A new report projects that the global electronic scrap recycling market will climb to $34.32 billion by 2022 at a CAGR of 15.7%, with Europe continuing to lead the way — though Asia-Pacific is expected to experience the fastest growth. The small home appliances niche will likely see the fastest spurt by volume, says Transparency Market Research, the report authors.
Growth drivers are advancements in technology making devices outdated and generating massive volumes of e-waste; legislation prohibiting e-waste disposal in landfills, incinerating it, or shipping it overseas; its high content of valuable precious metals such as gold, silver, palladium, tantalum, and gallium; and e-cycling’s role in conserving energy, reducing greenhouse gas emissions, and saving resources by extracting fewer raw materials from the earth.
Some other key study points are:
Smelting and refining companies will increase their electronic scrap processing capacity.
The precious metals segment is expected to grow at a CAGR of 11.2%.
More gold is recovered from one ton of e-waste from circuit boards than from 17 tons of gold ores, among large factors driving the boom.