It is expected that in the coming years, demand for rare earths will grow as consumer preferences shift towards hi-tech and green products. As the world battles through supply chain issues and geopolitical concerns disrupt the timely flow of materials, there is a rising concern surrounding the environmental, economic, and sociopolitical stability of the long-term supply of these metals. Therefore, the recovery of the RE elements is extremely important. E-waste is an excellent source of precious metals, and the recycling of e-waste needs to be dramatically ramped up.

Electronic waste (E-Waste), also known as Waste Electrical and Electronic Equipment (WEEE), is the term used to describe end-of-life appliances that use electricity. It includes discarded items such as computers, consumer electronics (e.g., cell phones, tablets, and laptops) and kitchen appliances.

According to ‘Global Rare Earth Metals Recycling Market Report 2022-2026: Recycling of Rare Earth Metals Leads to Steady Material Sourcing & Net-Zero Goals by 2050 to Promote Recycling of Rare Earth Metals’, the global rare earth metals recycling market is estimated to be USD 248 million in 2021 and is projected to reach USD 422 million by 2026, at a CAGR of 11.2% from 2021 to 2026.[Ref: https://energyindustryreview.com/metals-mining/rare-earth-recycling/ ]