Electronic Waste Management Market Share, Size, Trends, Industry Analysis Report, By Material Recovery (Plastic, Glass, Metal, Others), By Recycler Type, By Source Type; By Region; Segment Forecast, 2024– 2032
- Published Date:Jan-2024
- Pages: 119
- Format: PDF
- Report ID: PM3357
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global electronic waste management market was valued at USD 54.57 billion in 2023 and is expected to grow at a CAGR of 9.60% during the forecast period. The electrical equipment has shorter life expectancy and it stops working or has passed its expiration date. Due to rapid technological advancements and the production of newer electronic equipment are replaced outdated versions of electronic equipment. These factors promoting industry expansion in globe. The toxic waste like Liquid crystal, lithium, mercury, nickel, selenium, brominated flame retardants, cadmium, chromium, cobalt, copper, and lead are released from electronic scrap, increase health risks including bronchitis, kidney harm, and Wilson's disease. Also, the presence of these highly toxic substances and heavy metals are hazardous to environment.
To Understand More About this Research: Request a Free Sample Report
The growing demand for newer version of consumable electronic product in developing countries is increasing the purchase rate of electronic devices and this new product is replacing an older one quickly as a result of changing customer preferences. There is a growing tendency away from repairing broken products and towards buying new ones, because new product is available at fewer prices. In developing countries with strict regulatory frameworks and actions from electronic device manufacturers, more possibilities for managing e-waste are anticipated. For instant Singapore introduce “co-create an e-waste Extended Producer Responsibility system. Through this system it is the responsibility of manufacture and supplier of electronic goods to make sure that e-waste is recycled in an environmentally responsible way.
Due to the growing use of information technology, the amount of electronic waste it generates, particularly computer, television, mobile waste, which are rapidly growing. This device is used maximum four to five years due to purchasing power of customer and raising disposal income. The business sector is major producer of electronic waste because they are the earliest user of electronic device. In order to properly manage electronic waste, electronic device manufacture adhere to sustainable disposal practices, such as take-back policies.
Industry Dynamics
Growth Drivers
Stringent Guidelines Regarding E-waste Management
Electronic devices and innovations are expanding and getting better all the time. These technologies now play a crucial role in both our way of living and our developing economy. But as technology advances, it becomes more difficult to protect public health and the ecosystem from the possibly harmful effects of improper waste handling and disposal. For the proper collection and disposal of e-waste, the government and different organizations with ties to the government have established a number of strict rules and guidelines. The regulation outlines the duties of each participant in the lifecycle of the product, including the manufacturer, producer, collection facility, dealers, purchaser, dismantler, and recycler.
Additionally, the Environmental Protection Agency states that both at work and at home, a long-term ecological approach to electronics care is crucial. Given how commonplace electronics are, the government is committed to being a responsible user of electronics and a leader in electronics stewardship in the United States. The EPA took part in the UNIDO-GEF project's talk on "Strengthening of National Initiatives and Enhancing of Waste of Electronic and Electrical Equipment." Step created a tool with assistance from the EPA that will improve the ability of collaborating nations to assess how much e-waste is produced, imported, and exported.
Report Segmentation
The market is primarily segmented based on material recovery, recycler type, source type, and region.
|
By Material Recovery |
By Recycler Type |
By Source Type |
By Region |
|
|
|
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa) |
To Understand the Scope of this Report: Speak to Analyst
Metal Recovery Segment is Expected to Witness the Fastest Growth During the Forecast Period
The metal segment hold the largest market share is anticipated in 2022. Metal components used in electronic and electrical goods include conductive metals, metal solders, and metal tracks. Since almost every component such as, printed circuit board (PCB), and microcontroller is made of metal, this market is anticipated to grow at the fastest rate during the forecast period. Home equipment contain large amount of metals which account for the majority of e-waste, which has an average metal content of more than 60%.
The plastic segment is holding second largest market share in terms a growing number of electric gadgets/devices, such as computers, kettles, food processors, and phones, are made of plastic. Consumer electronic devices have made use of a variety of plastic resins, such as expanded polystyrene, high impact polystyrene, and acrylonitrile butadiene styrene.
The Metal Recycler Segment Accounted for the Second-Largest Market Share in 2022
Metal recycler segment hold largest market share due to the expanding use of metal in electronic device and systems. For instance, January 2023, aluminium is most demanded metal in automobile industry to reduce the overall weight of electronic cars and it is corrosion resistance. Government takes a initiate to reduced electronic waste by introducing various program with the help of Multi-National Companies, other Corporates, Retailers, Bulk Consumers, Equipment Manufacturers these entities willing to discard their electronic waste by recycling at the end of device expiry.
The plastic recycling segment grow significantly during the study period. Because many MNC such as Microsoft, Dell, HP, and Panasonic introduced efforts to organise extensive take-back programmes to recycle or reuse outdated equipment by collaborating with recycling businesses.Top of Form
The Consumer Electronic is Expected to Hold the Significant Revenue Share During the Projected Timeframe
The growth of consumer electronics segment is due to the increasing use of the advance technology in the residential and business sector, and commercial aviation sector in various Asian countries like India and China. The equipment like rrefrigerators, washing machines, air conditioners, dishwashers, and vacuum cleaners are widely used in daily life. Large portions of the electronics that are attributed to e-waste are communication and entertainment devices, including smartphones, computers and laptops, televisions, DVD players. People use the most recent smartphones more rapidly and disposed of their used, broken, or outdated device without recycling or reused. But maximum people not properly disposed of, these communication devices could wind up in landfills. Such reason are boost the electronic waste management market growth during forecast period.
The Demand Asia Pacific is Expected to Witness Significant Growth During the Forthcoming Years
Asia Pacific market is growing due to the presence of the largest manufacture countries like China of electronic devices. China is the world's largest producer and consumer of electrical and electronic devices. The regional market is also likely to be driven by expanding government programmes and active participation in e-waste collection and recycling activities.
North America has significant rules, regulation, and acts by their government about electronic waste management. Electronic Device Recycling Research and Development Act, through these act government provide funds for research and development to reduce the amount of toxic waste and increase the reuse and recycling of electronic products. In the many states government in the region impose electronic waste polices like Separate collection and processing of electronic waste from the solid garbage stream is required.
Competitive Insight
Some of the major players in the global market include Capital Environment, Eri, Enviro-Hub Holdings, Sembcorp Environmental, Tetronics Technologies, Umicore, Veolia, WM Intellectual Property, Sims Lifecycle Services, Boliden, Electronic Recyclers, MRI Pty, MBA polymer, Aurubis, Boliden.
Recent Developments
- In March 2023, Bharat Petroleum Corporation, take a special initiative "Sound Management of waste Disposal”, for reduction & recycling of e-waste.
- In March 2023, Saline County arrange a program for the collection and recycle types of old devices, including microwaves, cameras, game consoles, televisions, and computers, for free. Almost any gadget that has a cord or runs on batteries is acceptable.
Electronic Waste Management Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 58.4 billion |
|
Revenue forecast in 2032 |
USD 121.49 billion |
|
CAGR |
9.60% from 2024- 2032 |
|
Base year |
2023 |
|
Historical data |
2019- 2022 |
|
Forecast period |
2024 - 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
By Material Recovery, By Recycler Type, By Source Type, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
Capital Environment Holdings Ltd., Eri, Enviro-Hub Holdings Ltd., Sembcorp Environmental Management, Tes, Tetronics Technologies Ltd., Umicore Ag & Co., Veolia, WM Intellectual Property Holdings, L.L.C.,Sims Lifecycle Services, Boliden AB, Electronic Recyclers International, MRI Pty Ltd., MBA polymer Inc., Aurubis AG, Boliden AB. |
FAQ's
The global electronic waste management market size is expected to reach USD 121.49 billion by 2032.
Key players in the electronic waste management market are Capital Environment, Eri, Enviro-Hub Holdings, Sembcorp Environmental, Tetronics Technologies, Umicore, Veolia, WM Intellectual Property.
Asia Pacific contribute notably towards the global electronic waste management market.
The global electronic waste management market expected to grow at a CAGR of 9.3% during the forecast period.
The electronic waste management market report covering key segments are
© 2024 Polaris Market Research and Consulting. All rights reserved
