London, June 18, 2020 (GLOBE NEWSWIRE) -- The e-waste management market is expected to grow at a CAGR of 1.8% from 2019 to 2025 to reach $45.78 billion by 2025.
Electronics industry is the world's largest and fastest growing industry. In the industrialized world, the combination of rapid product obsolescence and discarded electronics is now the fastest growing waste stream. Electronic waste or e-waste is the waste generated from type of electric and electronic equipment that lose their value to users or no longer satisfy their original purpose. This term is applied to consumer, industrial, or regularly used household electrical equipment. By inclination towards adoption of technologically advanced electronic products, constant consumer demand for the latest version of e-devices, and growing preference for a luxurious lifestyle increases the usage of electrical and electronics equipment, resulting in a rise in the amount of e-waste produced each day.
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Around half the world’s population uses the internet and most people in the world have access to mobile networks and services. Many people are adopting more than one information and communication technology (ICT) devices. Apart from this, replacement cycles for electronic devices like mobile phones and computers are becoming shorter. At the same time, disposable incomes in many developing countries are increasing which has led to increase in the spending of middle-income population on electrical and electronic equipment, consequently generating more e-waste. These current trends suggest that the amount of e-waste generated will increase substantially over the next decades. However, most of the countries still lack proper disposal or recycling systems and policies which can efficiently help in e-waste management. Moreover, most of the countries still use improper recycling and disposal operations like open burning of plastic waste, exposure to toxic solders, river dumping of acids, and widespread general dumping which lead to increase risk to human health.
Currently, the overall collection and recycling rate for e-waste is very low (20%-25%) as compared to the total amount of e-waste generated, showing the improper documentation and collection methods across the world. The fate of majority of the e-waste generated is still unknown. In addition, the high cost of recycling e-devices results into generation of high amount of trashed e-waste. In most of the countries, e-waste is treated as the general waste which depicts lack of legislation in place, and lack of awareness about health and environmental hazards caused by e-waste. Thus, to overcome all these challenges, it is mandatory to keep high focus on e-waste management across the world.
The global e-waste management market studied in this report is majorly segmented by equipment type (small equipment, large equipment, temperature exchange equipment, displays &screens, small IT equipment, lamps), waste source(household appliances, IT& telecom equipment, consumer electronics, PCBs, industrial electronics, and medical equipment), material [metals (non-ferrous metals, ferrous metals), plastic and resins, other materials], methods [recycling & reuse, dispose/trash (land filling, incineration)], and by geography.
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On the basis of equipment type, small equipment accounted for the largest share of the overall e-waste management market in 2019. The large share of this segment is attributed to high amount of e-waste generated of small equipment as compared to other equipment; short lifespan of such devices; and continuously updating model, designs, and features in small equipment leading to their short life cycle and higher replacement rates. Growing disposable income of the middle-income populations across the world and their desire to opt for luxurious and smart lifestyles are driving greater adoption of small equipment, such as vacuum cleaners, microwaves, ventilation equipment, toasters, electric kettles, electric shavers, scales, calculators, radio sets, video cameras, electrical and electronic toys, small electrical and electronic tools, small medical devices, and small monitoring and control instruments among the populations. This in turn is contributing to the greater volume of e-waste generated every year, thereby driving the need for better e-waste management.
On the basis of method, the overall e-waste management market is majorly classified into two segments: recycling & reuse and dispose/trash. The recycling & reuse segment accounted for the largest share of the e-waste management market in 2019. The large share of this segment is attributed to the growing awareness about health and environmental hazards of e-waste among the population, implementation of regulations about e-waste management at country level, and growing reuse of extracted materials through recycling process in various industries. Moreover, the global awareness programs undertaken by various governments and non-governmental organizations (NGOs), and initiatives taken by the companies to organize take-back programs and connecting with recycling companies for proper recycle/reuse of their products also supported the largest share. Also, technological advancements for recovery of precious metals from electronic scrap makes recycling an attractive and feasible option. Reuse, on the other hand, is an economical and sustainable method to reduce e-waste generation globally.
On the basis of waste source, the e-waste management market is majorly classified into six segments: household appliances, IT & telecom equipment, consumer electronics, PCBs, industrial electronics, and medical equipment. The household appliances segment accounted for the largest share of the overall e-waste management market in 2019. Increased adoption of advanced household appliances owing to growing demand for comfort and luxury goods, increasingly busy lifestyle of the population and hence the reduced time for household chores, and higher disposable incomes are supporting the largest share and growth of this market. The PCBs segment is expected to grow at the fastest CAGR during the forecast period due to its vast use in production of electronic devices and need for better options for related waste management.
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Based on material, the e-waste management market is majorly classified into three segments: metals, plastic & resins, and others. The metals segment accounted for the largest share of the overall market in 2019, as metals or their components like metal tracks, metal solders, and conductive metals are widely used in production of almost all electric and electronic equipment.
Geographically, the global e-waste management market is categorized into six major geographies, namely, North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. In 2019, Europe accounted for largest share of the global e-waste management market, followed by North America, and Asia Pacific. The dominating position of European region in the e-waste management market is mainly due to increased consumption of electronic devices in the region and their increasingly shorter lifespans. Moreover, the e-waste collection rate in Europe is relatively higher as compared to other countries, which support the large share of Europe in the global e-waste management market. However, Asia-Pacific region is estimated to register the fastest growth during the forecast period, primarily due to increasing use of electronic products, higher volume of e-waste imported to the Asia-Pacific countries, and upgradation of government policies for reducing e-waste.
Some of the key players operating in the global e-waste management market are Electronic Recyclers International, Inc. (ERI), Aurubis AG, Sims Metal Management Limited, Umicore, Boliden AB, Global Electric Electronic Processing Inc., Triple M Metal LP, Tetronics (International) Limited, Enviro-Hub Holdings Ltd., and Stena Metall AB among others.
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Scope of the Report:
E-waste Management Market, by Equipment Type
- Small Equipment
- Large Equipment
- Temperature Exchange Equipment
- Screens
- Small IT Equipment
- Lamps
E-Waste Management Market, by Method
- Recycling & Reuse
- Dispose/Trash
- Landfill
- Incineration
E-Waste Management Market, by Waste Source
- Household Appliances
- IT & Telecom Equipment
- Consumer Electronics (CE)
- Printed Circuit Boards (PCBs)
- Industrial Electronics (IE)
- Medical Equipment
E-Waste Management Market, by Material
- Metals
- Non-ferrous Metals
- Ferrous Metals
- Plastic & Resins
- Other Materials
E-Waste Management Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U. K.
- Spain
- Italy
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East
- Saudi Arabia
- Kuwait
- Qatar
- United Arab Emirates (UAE)
- Rest of Middle East
- Africa
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