Market Analysis and Insights
The market for e-waste management was estimated to be worth US$ 56.60 billion in 2021. From 2021 to 2031, it is expected to increase at a CAGR of 14.06%, reaching US$ 189.13 billion.
Businesses have been prompted to invest in e-waste management infrastructure by the potential economic benefits of e-waste recycling, such as income from recovered materials and decreased raw material extraction costs.
E-Waste Management Market Scope :
|Revenue forecast in 2031
|US$ 189.13 bn
|CAGR of 14.06% during 2021-2031
|by Application, Processed Material Type, Source Type, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|SAP SE, Amazon Web Services, Inc, Huawei Technologies Co., Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Adobe, Google LLC, Facebook, Inc., and Heuritech
The act of processing, recycling, and disposing of electronic garbage or e-waste in an ecologically responsible way is referred to as ""e-waste management,"" sometimes known as ""electronic waste management.""
Computers, cellphones, TVs, refrigerators, printers, and other electronic appliances are just a few examples of the huge variety of electronic gadgets known as ""e-waste"" that have either reached the end of their useful lives, have become outdated, or are otherwise discarded.
In many pieces of electrical equipment, dangerous materials, including lead, mercury, cadmium, and brominated flame retardants, are present. When e-waste is improperly disposed of, these dangerous elements can seep into the environment, harming both human health and the environment.
Electronics also include precious metals, rare earth elements, and other priceless and scarce resources. Recycling e-waste enables the recovery and redistribution of these resources, lowering the demand for raw materials and lowering the environmental effects of mining.
In order to avoid unauthorized access and potential data breaches, proper e-waste management guarantees that data saved on electronic equipment is safely deleted or destroyed.
Key market segmentation
Insights on Type
The Trashed Segment Valued for the Highest Share
In 2022, the trashed segment had the biggest market share. Reusing, burning, and landfilling are the three methods used to dispose of electronic trash. Reuse is a cost-effective and long-lasting strategy for lowering the global production of electronic trash. The ecology and people's health are anticipated to be significantly harmed by both landfilling and incineration, though. Due to the worldwide awareness campaigns launched by several NGOs and governments that concentrate on the efficient collection, recycling, and treatment of e-waste, the recycled sector is expected to grow more substantially over the course of the projection period.
Insights from the Source
The Household Appliances Segment Valued for the Highest Share
In 2022, the market was led by the household appliances segment. Reusing e-waste from home equipment and disposing of it properly helps lessen environmental damage and preserve precious resources. Additionally, both the increasing demand for these items and the decreasing lifespan of these devices might be strongly linked to the growth of this market sector. More considerable growth is anticipated in the industrial electronics market. The segment's growth is primarily impacted by the developing global healthcare business along with an increase in the number of IT and telecom solution providers.
Insights on the Region
The APAC region accounted for the highest share.
Asia Pacific dominated the global e-waste management market in 2022 as a result of having the greatest revenue share. Rising disposable income in both emerging and established nations, together with the growing use of electronic gadgets, are major contributors to this significant market share. China, followed by India and Japan, is the Asia-Pacific region's biggest market for e-waste. Additionally, the large population and quick industrialization are the main factors anticipated to propel this region's market expansion. Due to growing government efforts and active involvement in e-waste collection and recycling operations, the worldwide market for e-waste management systems in Europe is predicted to grow substantially throughout the projected period.
Key Company Profiles
SAP SE, Amazon Web Services, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Adobe, Google LLC, Facebook, Inc., and Heuritech are a few significant market players in the market.
COVID-19 Impact and Market Status
Many localities imposed lockdowns and limitations during the early stages of the COVID-19 epidemic, which disrupted garbage collection services and recycling facilities.
The amount of appropriately handled e-waste may have decreased due to temporary closures or restrictions on e-waste collection drives and drop-off locations.
There may have been a rise in the production of e-waste as a result of more individuals working from home and relying on electronic gadgets for communication, entertainment, and productivity. More gadgets may have been used during lockdowns, which might have increased the amount of e-waste produced.
The recycling of electronic trash depends on a convoluted worldwide supply chain. International trade and transportation restrictions may have hindered the transit of recyclable materials and e-waste, which might have slowed down or stopped the recycling process.
The pandemic may have caused people and organizations to shift their attention and resources away from e-waste management activities in favor of pressing health and safety issues.
The pandemic may have caused some governments to reevaluate their priorities and budget allocation, which might have delayed or altered the adoption of e-waste management rules.
1. Circular economy ideas, which emphasize developing products for lifespan, repairability, and recyclability, were being adopted by several businesses and organizations. Circular economy strategies attempt to lessen the production of electronic waste by promoting the reuse and refurbishment of electronics.
2. EPR initiatives were spreading throughout many nations and areas. Manufacturers are more in charge of managing the end-of-life of their goods under EPR, including paying for and managing initiatives to collect and recycle e-waste.
3. To enhance the tracking and traceability of e-waste throughout the recycling process, technological solutions were being developed. This makes it possible to handle e-waste ethically and prevent it from entering risky or illegal recycling processes.
4. Online trade platforms for discarded electronics and e-waste materials were starting to emerge. In order to encourage the responsible management and reuse of electronics, these platforms link sellers of old electronics with refurbishers, recyclers, and purchasers.
5. More electronics makers were developing new products using eco-design concepts. Additionally, certifications like EPEAT (Electronic Product Environmental Assessment Tool), which aid consumers in identifying environmentally friendly gadgets, were becoming more popular.
Significant Growth Factors
E-waste creation has significantly increased globally as a result of the quick spread of electronic gadgets like cell phones, laptops, and other consumer electronics. The need for effective e-waste management solutions is expanding as a result of the increased volume of electronic trash.
Businesses and governments have been forced to implement appropriate e-waste management practices as a result of growing environmental concerns and harsher legislation regarding the disposal and recycling of e-waste. The need for e-waste treatment services has been spurred by the implementation of Extended Producer Responsibility (EPR) programs and waste management legislation.
The adoption of resource recovery programs and circular economy ideas has been sparked by the identification of the rich resources present in e-waste, such as precious metals and rare earth elements. E-waste recycling is becoming more popular as a result of the economic and environmental advantages of extracting and reusing these materials from e-waste.
E-waste recycling has become more efficient and economical because of advances in technology, such as better separation and processing methods. Automation and artificial intelligence-based technologies have enhanced sorting and disassembling procedures.
There is a dearth of appropriate e-waste management infrastructure and knowledge on the significance of responsible e-waste disposal in many places, especially in developing nations. This makes it more difficult to effectively collect and recycle e-waste.
E-waste recycling can be costly, particularly for outdated or ancient gadgets with complicated components. For certain recycling businesses, recycling may be financially difficult since the expenditures may exceed the income from recovered materials.
Some regions of the world continue to use risky and shady techniques for recycling e-waste, where people extract valuable materials while putting their health and the environment at risk, sometimes with little to no safety.
As they are made of a variety of materials, some of which are toxic, electronics must be recycled using specialized machinery and knowledge. Careful attention to safety guidelines and laws is necessary while handling dangerous materials.
E-waste transportation across borders, notably illicit dumping in underdeveloped nations, is still a major problem. To stop such practices, effective e-waste management requires international collaboration.
Recent Developments in the Global E-Waste Management Market: A Snapshot
• The merger agreement between the building firm SK Eco Plant and the e-waste and IT Asset Disposal (ITAD) company was signed in February 2022. TES. For a little under $1 billion USD, SK Ecoplant acquired 100% of TES.
• The OneDrum, the market's first mixed consumer battery collection solution, was publicly unveiled by Electronic Recyclers International, Inc. in 2022.
Frequently Asked Questions (FAQ) :
The rise in the government initiatives along with the e-waste collection zone throughout the world is the key factors anticipated to enhance the electronic waste management scenario in the next five to seven years. For example, the Ministry of Environment, Forest, & Climate Change in India has regulated electronic device manufacturers to reduce and recycle the e-waste within the nation that is generated by the disposal of electronic devices after use. On the other hand, a decrease in the life span of electronic equipment to generate huge waste after its disposal. Growing health hazards including kidney damage, Wilson’s disease, and bronchitis, owing to the insufficient discharge of toxic substances from the electronic incineration and scrap, are increasing the requirement for effective scrap management solutions. Moreover, the presence of valuable metals such as platinum, gallium, gold, and silver makes electronic scrap recycling a practical and attractive opportunity.
Processed Material Type Segment
The global e-waste management market contains metal, plastic, glass, other segments. The metal segment of the e-waste management component has a maximum revenue share within the e-waste management market in 2019. The electrical and electronic product encompasses components that use metal shoulders, metal tracks, and conductive metals. Metals are fundamentally used in all individual components, micro-controller, and printed circuit boards (PCBs), due to which the segment is projected to hold its dominance over the forecast period.
Source Type Segment
Based on the source type segment, the market is segmented into industrial electronics, consumer electronics, and others. The market for consumer electronics to possess the largest market share in 2019 and is anticipated to hold its position up to 2025. Extensive adoption of the electronic devices such as handheld electronic devices, household appliances, IT equipment, IT accessories, and PCBs in the commercial as well as residential sectors are the key factors boosting the demand for the segment
Based on the application, the market is segmented into the disposal, and recycle. The disposal segment is witnessed to hold a considerable market share for the e-waste management market in 2019. The disposal of electronic waste is undertaken in three processes namely landfilling, incineration, and reusing. However, both incineration and landfilling are witnessed to harm the human as well as environmental health to a great extent.
The Asia Pacific holds the title of one of the leading e-waste management market share regions with a significant growth rate over the forecast period. Growing disposable income in the evolving, as well as developed nations backed with the rising adoption of electronic devices, are the key factors for the industry growth. Moreover, developed nations such as the U.K., U.S., and Canada export a substantial amount of electronic waste produced by them to the Asia Pacific nations, which is anticipated to augur well for the regional industry over the forecast period.
The major players of the global e-waste management market are Electronic Recyclers International, Enviro-Hub Holdings, Aurubis AG, MRI (Australia), Sims Recycling, Boliden AB, Umicore S.A., Stena Metall AB, MBA Polymers, Tetronics, and more. The e-waste management market is fragmented with the existence of well-known global and domestic players across the globe.