E-Waste Management Market Set to Growth $67.1 Billion by 2030 with 3.5% CAGR, Says Reports Insights

New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- As per the research report “E-Waste Management Market” published by Reports Insights, the market was worth USD 50.9 Billion in 2022 and is projected to reach over USD 67.1 Billion by the year 2030, registering a CAGR growth of 3.5%.

E-waste management refers to the collection, transportation, and processing of electronic waste. This e-waste includes items such as computers, televisions, DVDs, cell phones, microwaves, hard drives, fans, printers, lamps, and other electronic devices. The e-waste management industry is growing rapidly as technology continues to advance and the number of electronic devices in use among the population continues to increase. The growing usage of such electronics among the population results in an increased volume of electronic waste that needs to be properly disposed of. This disposal plays a vital role as E-waste can contain a variety of toxic chemicals, including lead, cadmium, mercury, and flame retardants. These chemicals are released into the environment during the processing of e-waste, such as when electronic devices are broken down for materials recovery. Additionally, e-waste can also release pollutants such as dioxins and furans, which can have harmful effects on human health and the environment. Thus, proper treatment and management of these toxic chemicals released from electronics play a crucial role in preventing negative environmental effects.

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However, several factors are required to be considered for safe e-waste management. One of them is facilities or infrastructure for the collection and processing of e-waste. Many developing countries, where a large portion of e-waste is generated, do not have the necessary infrastructure in place to properly manage and dispose of e-waste. Also, many people are not aware of the environmental and health hazards associated with improper disposal of e-waste and do not know how to properly dispose of their electronic devices. Further, to tackle the growing concerns of such improper e-waste management, several developed countries have implemented regulations and programs to address this issue. The regulations include the European Union's Waste Electrical and Electronic Equipment (WEEE) Directive and the United States' Electronic Waste Recycling Act. The goal of these regulations is to reduce the amount of electronic waste in landfills, conserve resources, and reduce air and water pollution. Thus, both regulations are focused on reducing the environmental impacts of e-waste and increasing the recycling and proper disposal of electronic devices at the end of their useful lives.

E-Waste Management Market Report Scope are:-

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Key Market Highlights

• The global E-waste management market size is estimated to exceed USD 67.1 billion by 2030 and grow at a CAGR of 3.5% during the forecast period (2022-2030).
• Globally, E-waste management is separated based on source, each further sub-segmented: office equipment (keyboards, mice, laptops cases, USD memory sticks, others), medical & laboratory equipment (defibrillator, digital sphygmomanometer, hot plates, dialysis machines, imaging equipment, microscopes, calorimeters, and others), cell phone batteries and button cells, it and telecommunication equipment (routers, chipsets, networking cards/equipment, printed circuit boards, modems, others), domestic appliance (refrigerator, television, smartphones, tablets, wearables, others).
• In the context of type, the market is divided into disposal (reuse, landfill, and incineration) and recycling.
• The market is also categorized as per processed material: metals, glass, and plastic.
• The market is geographically segregated into five regions: Europe, North America, the Asia-Pacific, South America, and the Middle East and Africa.
• Asia-Pacific and the Middle East and Africa are expected to support the industry growth during the forecast period in terms of government initiatives to conduct a large volume of e-waste management.

E-Waste Management Market Segmentation Details:

Based on the source, the IT and telecommunication equipment segment is expected to contribute the largest share to the E-waste management market statistics. IT and telecommunication equipment include routers, chipsets, networking cards/equipment, printed circuit boards, modems, and others.  These equipment are responsible for the major generation of e-waste in terms of switches, relays, printed circuit boards (PCBs), and others. If left untreated, this equipment poses serious health risks such as damage to blood systems, peripheral and central nervous systems, and kidney damage. Thus, proper management of this equipment is as crucial as saving the environment to prevent any further damage to human lives due to released toxic chemicals such as lead, cadmium, and others.

Based on type, disposal such as landfill, reuse, and incineration are anticipated to account for the largest share contribution during the forecast period. This type of e-waste management is primarily observed in developing countries such as India, Brazil, and Mexico due to the large volume of illicit e-waste exported to these regions. Thus, high expenditures are initiated by government authorities to reduce the extent of such disposal which increase the risks of improper waste management.

Based on processed material, the metal segment is anticipated to contribute significant shares to the market growth in terms of volume. A large segment of metals such as steel, aluminum, copper, palladium, and others are extracted from huge landfills. All these metals are further processed to be reused in several industrial applications such as appliances, tools, car parts, and many more. Thus, methods such as the hydrometallurgical process, pyrometallurgical process, and bio-hydrometallurgical approach or bioleaching are adopted to extract heavy as well as precious metals from e-waste.

Based on region, Asia Pacific is projected to account for the largest share contribution to the market growth. Large-scale initiatives by non-profit organizations are being adopted in this region to reduce the environmental pollution caused by e-waste. Due to illicit dumping, especially in India, strict government regulations are being imposed on electronics manufacturers to either consider alternatives for toxic chemicals within electronics or increase the rate of e-waste recycling. Further, growing awareness among the population in terms of the collection and proper disposal of e-waste is also expected to support the market growth in this region.

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Recent Developments

• In July 2021, Singapore implemented its first e-waste management system utilizing the extended producer responsibility principle.
• In July 2022, a partnership was formed between top US-based electronic recyclers, ERI and Redrock Environmental Group, to offer proper electronic waste recycling options for the citizens of Madera County.

List of Major E-Waste Management Market Players

The market research report provides a comprehensive examination of the market conditions that aid stakeholders in gaining a thorough understanding of market dynamics such as drivers, restraints, challenges, and opportunities. Further, such analysis also offers a detailed understanding of growth prospects across various applications, new product introductions, technological advancements, and business strategies, which help market players stay ahead of the latest market trends. Listed are key players currently active in the market —

• Capital Environment Holdings Limited (Hong Kong)
• Eri (U.S.)
• Tetronics Technologies Limited (U.K.)
• Enviro-Hub Holdings Ltd. (Singapore)
• Sembcorp Environmental Management (Singapore)
• Tes (Japan)
• Umicore Ag & Co. Kg (Germany)
• Veolia (France)
• WM Intellectual Property Holdings, L.L.C. (U.S.)
• Sims Lifecycle Services, Inc. (U.S.)
• Boliden AB (Sweden)

Global E-Waste Management Market Segmentation: 

• By Source
  • Office Equipment
    • Keyboards
    • Mice
    • Laptops Cases
    • USD Memory Sticks
    • Others
  • Medical & Laboratory Equipment
    • Defibrillator
    • Digital Sphygmomanometer
    • Hot Plates
    • Dialysis Machines
    • Imaging Equipment
    • Calorimeters
    • Others
  • Cell Phone Batteries and Button Cells
  • IT and Telecommunication Equipment
    • Routers
    • Chipsets
    • Networking Cards/Equipment
    • Printed Circuit Boards
    • Modems
    • Others
  • Domestic Appliance
    • Refrigerator
    • Television
    • Smartphones
    • Tablets
    • Wearables
    • Others
• By Type
  • Disposal
    • Reuse
    • Landfill
    • Incineration
  • Recycling
• By Processed Material
  • Metals
  • Glass
  • Plastic

Frequently Asked Questions About This Report:-

What are the key drivers for the growth of the e-waste management market?

What are the different sources of electronic waste in the e-waste management market?

What are the types of e-waste management services offered in the market?

What are the processed materials obtained from e-waste in the e-waste management market?

What is the regional distribution of the e-waste management market?

How do the trends in the e-waste management market vary by region?

What is the impact of government regulations and policies on the e-waste management market?

What is the competitive landscape of the e-waste management market?

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