Report Foresees 7.2% CAGR Growth to Global E-Scrap Recycling Market

SEATTLE (Scrap Monster): A new research report published by the Transparency Market Research (TMR) predicts global electronic scrap recycling market to grow at a CAGR of 7.2% by volume during the period from 2015 to 2022. The growth is mainly attributed to the shorter lifespan of electronic products and stricter rules pertaining to collection and processing of electronic waste by various governments across the world.

The report highlights the serious health and environmental issues caused by careless disposal and landfilling of electronic waste. The air and water pollution thus caused can be easily eliminated by proper recycling of end-of-life electronic devices. In addition to recovery of valuable materials, it also promotes conservation of precious natural resources.

Most electronic products are made up of metals, which are recyclable. In addition, electronic scrap contains toxic substances including lead, mercury, cadmium, arsenic and antimony. They are also found to contain traces of precious metals including gold and silver. Based on the type of metals extracted, the global electronic scrap recycling market is segmented into ferrous, non-ferrous and precious metals. Although ferrous metals remain the major market contributor currently, the report predicts substantial expansion to non-ferrous metals segment during the forecast period. The precious metals segment is likely to maintain its dominant position in terms of revenue generated throughout the period until 2022.

According to the report, global electronic scrap recycling market continues to remain consolidated, with the market being dominated by a small number of global players. The key players continue to expand their business by gaining competitive edge in the market through geographical expansion of their business. In addition, these companies have an edge over others with respect to innovation in recycling technologies, which in turn will help them to expand their business into new product categories. The key players in the market include Electronic Recyclers International, Inc., Sims Metal Management Ltd., Boliden Group, Umicore N.V., Dowa Holdings Co., Ltd., Ultromex Ltd., LS-Nikko Copper Inc., Glencore Xstrata Plc etc.

The report predicts that Europe will continue to remain as the largest market for electronic scrap recycling. The region will report tremendous growth in revenues from electronic scrap recycling in the coming years, it said.