E-WASTE MANAGEMENT MARKET: OVERVIEW
The Global E-waste Management Market Size was valued at USD 52.13 Billion in 2021. The market is projected to grow USD 145.11 Billion in 2030, at a CAGR of 13.2%.
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E-waste contains rare and precious metals like gallium, gold, silver, palladium, indium, and platinum. These rare elements are used in the production of consumer electronics, IT, and communication devices. The price of these metals' products is expensive since they are uncommon. This has increased the necessity of recycling, repairing, and reusing metal-based technology. These issues surely encourage manufacturers of electronic devices to look for raw materials in recovered e-waste. This assists nations in reducing their greenhouse gas emissions, which unquestionably lowers the hazards associated with global warming.
Having more spare income makes it easier to buy brand-new, cutting-edge technology. The younger generation's urge to often switch out old technology for newer models of computers, telephones, and other gadgets is what is driving the sector. The company is also aided by the rigorous guidelines that some organizations have established for the disposal of e-waste.
There has been a good growth tendency in the market in terms of its economic impact. The adoption of work-from-home policies has led to a rise in the demand for mobile computing devices and a decline in the use of stationary desktops and devices. As a result, businesses have been concentrating on recycling these systems to reduce operational costs, which has significantly aided the market's growth overall.
Due to this growing possibility, numerous businesses have been actively investing in e-waste management. Petonic Infotech disclosed in January 2021 that it had invested $500,000 in Prometheus e-waste Recycling. With this support, Platonic Infotech intends to help Prometheus e-waste expand sustainable e-waste management market across India. The funding will also help Prometheus E-Waste deliver a straightforward, safe, and efficient solution to the e-waste problem in India.
Global E-waste Management Market Report Coverage
|Market Size in 2021:||USD 52.13 Billion|
|Forecast Period 2021-2030 CAGR:||13.2%|
|2030 Value Projection:||USD 145.11 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||99|
|Segments covered:||COVID-19 Impact Analysis Report, By Type, By Source, By Application|
|Companies Covered:||ERI., Aurubis AG, Sims Lifecycle Services, Inc., Umicore, Boliden Group, GEEP Inc., TRIPLE M METAL LP, Tetronics, ENIRO-HUB HOLDINGS LTD., Stena Metall AB, and Others.|
|Growth Drivers:||1) Increased Product Innovation Boosts Market Growth. 2) Growing Environmental and Health Concerns Fuel Market Growth|
|Pitfalls & Challenges:||Careless Disposal of E-Waste Limit Market Growth|
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E-WASTE MANAGEMENT MARKET: TREND
Increased Product Innovation Boosts Market Growth
The e-waste management industry is anticipated to rise in revenue as a result of quickly expanding product innovation, particularly in home electronics and appliances such the conversion of analogue to digital technologies, monitors, and flat-screen televisions. According to the UN, managing e-waste is anticipated to increase by over 33% during the following four years. Thanks to collaborations between leading businesses like Dell, HP, and Cisco from Japan, China, and England and worldwide organizations like addressing the E-waste Problem, there are now more opportunities for the e-waste management industry to thrive. Due to an increase in the number of refrigerator sets being thrown from home appliances, the market for e-waste management is anticipated to see revenue growth.
E-WASTE MANAGEMENT MARKET: DRIVERS
Growing Environmental and Health Concerns Fuel Market Growth
The global e-waste recycling and reuse services market is predicted to develop over the forecast period as a result of growing health and environmental concerns. E-waste contains a range of substances, including harmful substances to human health. Frequently, these parts are not disposed of properly. Burning releases, a chemical like cadmium into the atmosphere, which has a negative influence on neighboring ecosystems, causes cancer, and has a rapid negative impact on soil health. The negative effects of lead have a long history. Greenpeace is only one of the many environmental groups that have significantly raised public awareness. Governments from numerous nations have so devised their own sets of rules for the efficient treatment of e-waste.
E-WASTE MANAGEMENT MARKET: RESTRAIN
Careless Disposal of E-Waste Limit Market Growth
The challenges associated with illegal e-waste disposal in emerging economies are predicted to impede the growth of the worldwide e-waste management market. E-waste management and disposal facilities are located in most developed countries. However, illegal wastelands and dumping sites are regularly used to dump e-waste in these countries. These devices are very difficult to recycle as a result of such illegal disposal, which results in a considerable income loss. Furthermore, such illegal dumping could cause a fire if the proper safeguards are not taken.
The Global E-waste Management Market is segmented by Type, Source, Application, and Region. Based on the Type, the market is categorized into Glass, Metal, Plastic, and Others. Based on Source, the market is categorized into Industrial Electronics, Household Appliances, IT & Telecommunication, Consumer Electronics, Medical Equipment, and Others. Based on Application, the market is categorized into Trashed and Recycled. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global E-waste Management Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
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North American is anticipated to have the largest market share of the worldwide market for e-waste management due to the stringent rules that the Environmental Protection Agency has put in place in this area. Additionally, the rising per capita earnings in the region's several nations have compelled people to regularly upgrade the devices they buy. Sales of electronic goods including mobile phones, laptops, and refrigerators have surged over the past ten years, which has led to an increase in the amount of e-waste produced in the area. However, Asia Pacific is anticipated to see the greatest growth rate throughout the projected period of the global e-waste management market due to the constant innovation and the decline in electronic goods' prices. The actual lifespan of electronic devices like computers and cellphones has been significantly impacted by this. Additionally, a variety of opportunities for effective e-waste management are emerging as a result of the movement of e-waste from industrialized regions to developing countries like China and India.
E-WASTE MANAGEMENT MARKET: KEY PLAYERS
- Aurubis AG.
- Sims Lifecycle Services, Inc.
- Boliden Group
- GEEP Inc.
- TRIPLE M METAL LP
- ENIRO-HUB HOLDINGS LTD.
- Stena Metall AB
E-WASTE MANAGEMENT MARKET: RECENT DEVELOPMENT
- July 2018- Boliden invested more than 72 million in metal leaching units to recycle e-waste. This will improve the ability of leftover material to recover metals.
- July 2016- Electronic Recyclers International began offering electronics recycling in Indiana in response to the widespread illegal and unethical export of e-waste by many businesses.
E-WASTE MANAGEMENT MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global E-waste Management Market. The Global E-waste Management Market is segmented by Type, Source, Application, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global E-waste Management Market.
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