SEATTLE (Recycling Monster): The latest research report published by The Insight Partners states that market revenue of global e-scrap recycling market is projected to touch $8.19 billion by 2028, growing at a CAGR of 14.3% from 2021. The market was valued at approximately $3.22 billion in 2021.

The proliferation of electronic devices, significant reduction in product lifecycle and scarcity of precious metals are being identified as the major drivers of e-scrap market growth, said the report.

The report segments the e-scrap recycling market into five regions- North America, Asia Pacific, Europe, the Middle East & Africa and South America. Europe had accounted for the largest market share in 2020. During the forecast period from 2021 to 2028, the Asia Pacific market is expected to record the highest CAGR growth. The higher adoption of various electronic devices in North American countries such as the U.S. and Canada will boost the volume of e-waste generated by the region.

Based on product type, the report segments the e-scrap recycling market into IT & Telecom Equipment, Small Household Appliances, Large White Goods, Consumer Electronics and Others.