SEATTLE (Recycling Monster): The latest research report published by The Brainy Insights suggests significant growth to global e-waste recycling market over the next decade. The market size is anticipated to record notable growth to surpass $130 billion, upon comparison with $25 billion currently.

According to the report, Europe is expected to dominate the market during the forecast period, mainly on account of the Waste Electrical and Electronic Equipment (WEEE) Directive, which requires all electronic waste to be collected, treated, recycled, and recovered properly. It must be noted that the region has already committed to implementing a circular economy.

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During the previous year, the metals and chemicals segment dominated the market with a market share of 39% and revenue of 9.75 billion. By source, the market was dominated by the household appliances market, which accounted for 45% market share and revenue of 11.25 billion.

The projected expansion of the global e-waste recycling market will be propelled by the rising use of electronics and the corresponding increase in discarded electronics. The high upfront investment costs for setting up e-waste recycling facilities continues to remain as a barrier to market growth. However, supportive regulatory frameworks by various governments may provide boost to recycling, the report noted.