New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) -- 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%. as per the latest research report by Spherical Insights & Consulting.
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Abandoned electrical or electronic equipment that can be disposed of or recovered, reused, and sold through material recovery is referred to as "e-Waste" frequently. This garbage consists of modern electrical appliances including computers, televisions, refrigerators, and air conditioners that may include dangerous materials like brominated flame retardants, heavy metals like lead, mercury, cadmium, and beryllium, as well as other contaminants.
According to UN research, 50 million tons of e-waste were produced in 2018. E-waste is also referred to as urban mining. It is the procedure of disassembling electronic waste to separate its components for recycling or resale. Additionally, the increase in discretionary cash makes it easy 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.
Due to the increased danger of health issues including kidney damage, bronchitis, and Wilson's disease brought on by the inappropriate disposal of hazardous materials from electronic scrap and combustion, there is a growing need for efficient scrap management techniques. Recycling electronic waste is a desirable and sensible option because valuable metals like platinum, gold, silver, and gallium are readily accessible. There is a chance that these components will encourage market growth.
Based on the Type, the market is categorized into Glass, Metal, Plastic, and Others. The metal segment led the worldwide e-waste management market share by processed material type in 2021, and it is anticipated that it will continue to do so in the years to come. Due to the dramatic changes in the electric and electronic industries over the past ten years, the amount of electronic scrap has skyrocketed, and recycling and burning of these materials have become quite popular. Additionally, the lack of hazardous waste discharge from incineration and scrap has increased the risk of health risks including kidney damage, bronchitis, and other illnesses, which has increased the demand for effective scrap management solutions. During the projected period, the aforementioned reasons are anticipated to fuel segment expansion in the global market.
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Based on Source, the market is categorized into Industrial Electronics, Household Appliances, IT & Telecommunication, Consumer Electronics, Medical Equipment, and Others. The home appliances sector dominated the worldwide e-waste management market in 2021, and it is anticipated that it would continue to do so in the years to come. A significant portion of the global e-waste is made up of household appliances. Due to this, it is now necessary to create efficient regulations to handle massive amounts of e-waste. Manufacturers and importers are required by a number of nations to collect electronic items for end-of-life management. Manufacturers have the option of repurposing electronic waste or recycling it themselves. For instance, consumers of equipment like refrigerators, air conditioners, and washing machines in Japan are required to transmit them to shops so that they can send them to businesses under the Home Appliances Recycling Law. These regulations are fostering a climate that is favorable for recycling e-waste.
Many rules and policies are being put into place by governments all over the world to manage e-waste efficiently. For instance, the Ministry of Environment, Forests and Climate Change in India has legislated that producer of electronic devices be accountable for recycling and lowering the amount of e-waste in the nation. A number of other strategies are also being used, such as the use of renewable resources, adjustments to the production process, and eco-friendly packaging alternatives, to reduce the amount of e-waste.
The global e-waste management market is competitive, with a number of global & regional players operating. Some of the key players in the market includes, 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.
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Asia-Pacific is expected to dominant position in the e-waste management market during the forecast period due to a number of factors, including new product developments as a result of ongoing innovation and the ongoing drop in the price of electronic items. This has had a significant impact on the real-life span of electronic items like computers and smartphones. Additionally, the region's numerous countries' rising per capita incomes have encouraged consumers to frequently upgrade their goods purchases. In the past ten years, sales of electronic products including computers, refrigerators, and mobile phones have increased, contributing to an increase in the amount of e-waste generated in the region.
Browse key industry insights spread across 200 pages with 99 market data tables and figures & charts from the report “Global E-waste Management Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Type (Glass, Metal, Plastic, and Others), By Source (Industrial Electronics, Household Appliances, IT & Telecommunication, Consumer Electronics, Medical Equipment, and Others), By Application (Trashed and Recycled), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”, in detail along with the table of contents
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