The global Home Appliance Recycling Market is estimated to be valued at US$ 18.46 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The home appliance recycling market deals with recycling of discarded home appliances such as refrigerators, washing machines, dryers, dishwashers etc. Recycling of home appliances helps in proper disposing of hazardous materials from appliances and extracting valuable materials that can be reused, thus promoting circular economy.

Market key trends:
One of the key trends in the home appliance recycling market is rising focus towards sustainable waste management. Growing environmental concerns around improper disposal of home appliances that contain toxic substances such as heavy metals, refrigerants, and plastics are encouraging adoption of recycling processes. Recycling helps in reducing pollution and landfill usage by recovering materials from end-of-life appliances. It is estimated that recycling one million refrigerators can produce 45 million pounds of steel, 1.1 million pounds of aluminum and 25,000 tons of copper.
Market key trends:
Home appliance recycling market is witnessing significant growth driven by rising environmental awareness among consumers and stringent government regulations regarding electronic waste management. Governments across various countries are promoting home appliance recycling through incentive programs such as cash rewards, discounts on new appliance purchases, pickup services etc. to encourage households to responsibly dispose old appliances. Additionally, manufacturers are mandated to set up recycling programs to recover materials from end-of-life products and minimize landfill waste.

SWOT Analysis
Strength: It helps in proper disposal of hazardous materials from appliances and ensures their safe processing. It also promotes recovery and reuse of various materials.
Weakness: Collection and transportation of large obsolete appliances require proper infrastructure and incur additional costs. Lower recycling rates in some regions pose a challenge.
Opportunity: Growing environmental regulations and increasing demand for resource recovery present an opportunity for market expansion. Partnerships with municipalities and manufacturers can help boost collection rates.
Threats: Presence of informal recycling sectors and illegal dismantling units can hurt proper recycling. Market disruption from new waste management technologies is also a threat.

Key Takeaways
The global Home Appliance Recycling Market Growth  is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing environmental regulations mandating producers to set up take-back programs. The market size for home appliance recycling was valued at US$ 18.46 Bn in 2023.
Regional analysis indicates North America dominates with highest recycling rates led by regulations in states like California. Asia Pacific is the fastest growing market driven by strict laws in China.
Key players operating in the home appliance recycling market are ARCA Recycling, Canadian Appliance Recycling Inc, A2Z Home Appliances, UK Appliance Recycling Ltd, Energy Star, Morningside Recycling, Jingdong, A1 Appliances, GE Appliances, Best Buy, IKEA, Johnson Controls, ARCA Advanced Processing, LG Electronics, Samsung Electronics, Arc Recycling, DART Appliance Recycling, Godwin Appliance Recycling, UNTHA Recycling Technology, Mitsubishi Materials Eco-Recycle.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it