Fort Collins, Colorado, April 19, 2024 (GLOBE NEWSWIRE) -- The e-waste management market was valued at USD 66.6 Billion in 2023 and is anticipated to grow CAGR at 13.4% to reach USD 207.1 Billion by 2032.
Properly disposing of electronic waste, or e-waste, is crucial to prevent environmental damage. E-waste includes a variety of gadgets such as computers, mobiles, laptops, stereo systems, DVDs, and wires, as well as commercial and industrial appliances, medical devices, solar panels, electronic tools, and other gadgets. Disposing these items safely is essential because they contain harmful substances such as lead and mercury that can harm the environment and living beings. Therefore, it's vital to manage e-waste effectively to avoid any negative impact on the environment.
The e-waste management system is growing due to increased buying and disposal of electronic devices and awareness of the harmful effects of improper disposal. Electronic devices contain heavy metals like zinc, chromium, lead, and mercury that can harm the nervous system, bloodstream, and vital organs, so they must be disposed of carefully.
Companies invest in e-waste management and recycling systems because they focus on the circular economy and achieving zero waste. By using recycled raw materials and sustainable inputs in their manufacturing processes, organizations are able to make new products that contain metals, plastic, and other materials that don't need to be produced, thus reducing the use of raw materials.
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Segmentation Overview:
The E-Waste management market has been segmented into processed material, source, application, and region. The e-waste management market sees significant demand for recycling metals as it reduces environmental pollution and allows companies to use recycled materials instead of mining metals. Disposal is a considerable application segment, with landfilling not being highly recommended. Recycling and reusing are preferred methods as they separate valuable materials that can be used to produce other goods.
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E-Waste Management Market Report Highlights:
- The E-Waste management market growth is anticipated at a CAGR of 13.4% by 2032.
- It's crucial to dispose of electronic waste properly to prevent environmental damage. E-waste contains harmful substances like lead and mercury that can harm the environment and living beings. Disposing of electronic devices carefully is necessary because they contain heavy metals that can harm the nervous system, bloodstream, and vital organs. Companies invest in e-waste management and recycling systems to achieve zero waste and reduce the use of raw materials in their manufacturing processes.
- Due to its affordable costs and supportive regulations, China is a major global producer of electronic devices and machines for various industries. As a result, the country accounts for around 38% of total electronics production and consumption, leading to high levels of electronic waste.
- Some prominent players in the E-Waste Management market report include Aurubis AG, Enviro-Hub Holdings Ltd., Sims Ltd., Umicore, Electronic Recyclers International Inc., MBA Polymers Inc., Boliden AB, Stena Recycling, Tetronics Technologies Ltd., Veolia Environment S.A., and others.
Industry Trends and Insights:
- Umicore N.V. will use AI in partnership with Microsoft to speed up research in battery material technologies for electric vehicles. The technology will support battery scientists in developing new materials, enabling faster time-to-market and more cost-efficient development processes.
- Aurubis AG, the biggest copper producer in Europe, has partnered with Codelco, the leading Chilean mining group, to collaborate on sustainable copper mining practices. This collaboration aims to enhance the eco-friendliness of Aurubis AG's supply chain and improve its green credentials.
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E-Waste Management Market Segmentation:
By Processed Material: Metal, Plastic, and Glass
By Source: Industrial and Consumer
By Application: Disposal and Recycle
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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