Electronics boom sees e-scrap recycling soar

Author:Suny Group

The global e-scrap sector is likely to reach US$ 41.3 billion by the end of this year, according to market analysts.

In terms of volume, the global electronic recycling market will exceed 140 million tonnes. This is up from almost 48 million tonnes in 2012; meaning the e-cycling sector witnessed an ‘impressive’ 23% compound annual growth rate during the last seven years. Back in 2012, the worldwide e-scrap industry was worth US$ 9.8 billion, reports research firm Transparency Market Research.

It’s evident that global sales of electronics have remained strong. For instance, worldwide revenue in the consumer electronics market topped US$ 307 270 million last year. This is expected to continue growing, probably reaching 337 755 million this year (+9.9%).

Keep in mind that up to 30 million smart home products will be sold in America alone this year. The US Consumer Technology Association says that’s a 23% increase compared to 2018.