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IN THE NEWSNovember, 2020: Electronic Recyclers International, Inc. announced their collaboration with Electronics Brand TCL, MRM and Fresno County for Safe Electronics Recycling.
The global electronic waste management market is estimated to garner sizeable revenue by growing at a moderate CAGR over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing generation of e-waste backed by rapid global digitalization and adoption of electronic appliance in every aspect of life. In 2019, more than 50 million metric tons of e-waste was generated globally. Improper and irresponsible disposal of e-waste can be hazardous to living organism. For instance, open disposal of lead in the environment can cause various diseases, including kidney and neurological disorders caused by lead poisoning. Moreover, various precious metals are used in electronic parts, which are obtained by expensive and extensive mining activities. These metals can be recycled, which will not only cut the costs, but also positively impact the environment. These factors are estimated to boost the market growth. In addition to this, growing government initiatives to control climatic issues caused by e-waste, is also estimated to boost the market growth. For instance, Environment Protection Agency (EPA) launched the UNIDO-GEF project for the management of Waste of Electronic or Electrical Equipment (WEEE) in March 2019.
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The global electronic waste management market is segmented by source into household appliances, commercial devices, industrial devices, and others, out of which, the commercial devices segment is anticipated to hold the largest share in the market during the forecast period on account of large volume of e-waste produced in the commercial sector. Increasing use of computers, AC, and other electronic gadgets in commercial places such as, offices, banks, and malls generates a huge amount of electronic-waste, which is estimated to boost the segment growth.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global electronic waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of increasing generation of e-waste backed by constant innovation in technology, launch of new products, and growing sale of electronic products in countries, such as, Canada, and U.S. Moreover, government initiatives to promote e-waste management is also estimated to boost the market growth.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the large number of consumer electronics manufacturers in the developing countries, such as, Japan, China, and India. Moreover, increasing population of tech-savvy generation is also expected to boost the market growth.
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The global electronic waste management market is further classified on the basis of region as follows:
Our in-depth analysis of the global electronic waste management market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising government regulations for reducing electronic waste, and growing environmental concerns are the major factors driving the market growth.
The market is anticipated to attain moderate CAGR over the forecast period, i.e., 2022-2030.
Lack of proper infrastructure for recycling is one of the major factors estimated to hamper the market growth.
The market in the Asia Pacific is estimated to provide most growth opportunities owing to the presence of various consumer electronic industries in the region, backed by industrial development and growing young population.
The major players in the market are Capital Environment Holdings Limited, Aurubis AG, Boliden Group, Eniro-Hub Holdings Ltd., Umicore, BA Polymers Inc., Electronic Recyclers International, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by treatment, material type, source, and by region.
The commercial devices segment is anticipated to hold largest market size on the back of increasing number of electronics devices being used in commercial sector.
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