The E-Scrap recycling market is anticipated to grow at a significant CAGR of 10.9% during the forecast period (2024-2031). A surge in electronic waste generation, coupled with stricter environmental regulations and a growing emphasis on responsible waste management, is fueling the global expansion of the e-scrap recycling market. Recycling also addresses the rising demand for resource conservation and energy efficiency by recovering valuable materials for reuse. This reduces the environmental impact of e-waste and fosters a more circular economy. These converging forces position the e-scrap recycling market for continued expansion in the foreseeable future.
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In September 2023, E-waste recycling company Eco Recycling (Ecoreco) has partnered with India’s Ministry of Electronics & Information Technology (MeitY) and Centre for Materials for Electronics Technology (CMET) to introduce an efficient lithium-ion battery recycling technology. Developed in collaboration with the government of Telangana and industry partner Greenko Energies, the technology can recover over 95.0% of lithium, cobalt, manganese, and nickel from discarded Li-ion batteries with a purity level of around 98%. Ecoreco sees this innovation as a step towards self-reliance, promoting domestic recovery of valuable elements and aligning with India's aim of boosting indigenous capacity and manufacturing.
Further, in July 2022, Belgium-based Umicore announced its intention to embark on a substantial expansion of its battery recycling activities. The metals group intends to invest approximately €500 million in the construction of a cutting-edge plant with an annual capacity of 150,000 tonnes. Scheduled for commissioning in 2026, this greenfield project signifies a significant strategic move for Umicore and will leverage the latest advancements in the company's "pyro-hydro" technology.
Furthermore, in June 2022, Volkswagen AG and JX Nippon Mining & Metals Corp. initiated a trial project to recycle automotive lithium-ion batteries in Germany, scheduled for 2030. Supported by the German government, Volkswagen has formed a joint venture with JX and other entities. JX, a unit of Eneos Holdings Inc., will focus on extracting rare metals like lithium, cobalt, and nickel from batteries. Anticipating a surge in electric vehicle adoption, the global market is expected to grow exponentially by 2030, reaching ¥53 trillion by 2050. To address concerns over rare metal scarcity and battery prices, countries are promoting battery recycling, with the EU mandating recycled materials in batteries by 2030. Japan's Green Innovation Fund supports recycling technology development in alignment with decarbonization efforts. Such developments are further aiding to the global market growth.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product Type
o By Processed Materials
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- DOWA ECO-SYSTEM Co., Ltd., Eco Recycling Ltd (Ecoreco), JX Metals Corporation (ENEOS Holdings, Inc), Stena Metall AB, and Umicore SA among others.
Key questions addressed by the report
Global E-Scrap Recycling Market Report Segment
By Product Type
By Processed Materials
E-Scrap Recycling Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
Rest of Asia-Pacific
• Latin America
• Middle East & Africa
• Rest of the World
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