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E-waste Management Market To Accomplish Growth At CAGR of 4.1% By 2025, on Account of Consumer’s Inclination Toward Technologically Advanced Gadgets | Grand View Research, Inc.

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E-waste Management Market To Accomplish Growth At CAGR of 4.1% By 2025, on Account of Consumer’s Inclination Toward Technologically Advanced Gadgets | Grand View Research, Inc.

June 09
07:24 2022
E-waste Management Market To Accomplish Growth At CAGR of 4.1% By 2025, on Account of Consumer’s Inclination Toward Technologically Advanced Gadgets | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the proliferation of electronic devices is expected to lead to a significant amount of waste generation, thereby driving the e-waste management industry.

E-waste Management Industry Overview

The global e-waste management market size was estimated at 44.7 million metric tons in 2016 and is expected to reach 63.705 million metric Tons by 2025, registering at a CAGR of 4.1% during the forecast period.

With rapid urbanization and industrialization in developing as well as developed economies, adoption of novel technologies is gaining momentum. Technologies such as the Internet of Things (IoT) are leading to use of electronic devices in practically every human activity. Therefore, proliferation of electronic devices is expected to lead to a significant amount of waste generation, thereby driving the market.

Gather more insights about the market drivers, restrains and growth of the Global E-waste Management Market

Rising health hazards such as bronchitis, kidney damage, and Wilson’s disease, due to inadequate discharge of toxic materials from electronic scrap and incineration, are augmenting the need for efficient scrap management techniques. Furthermore, the presence of precious metals such as gold, silver, platinum, and gallium makes electronic scrap recycling an attractive and feasible option. These factors are poised to positively influence market growth.

 

China e-waste management market size, by processed material, 2014 - 2025 (Million Metric Tons)

 

Furthermore, widening base of middle-income population in developing economies and shifting consumer preferences are resulting in rapid replacement of older versions of an electronic product with a newer version. This, in turn, is boosting the sales of electronic devices. Moreover, electronic device manufacturers follow sustainable disposal practices in order to adequately manage electronic devices at their end-of-life period, such as take-back policy. Such factors are anticipated to work in favor of the market during the forecast period.

Governments across the globe are implementing numerous regulations and policies to effectively manage e-waste. For instance, in India, the Ministry of Environment, Forests and Climate Change has mandated that electronic device manufacturers are responsible for recycling and reducing e-waste in the country. Additionally, several other methods are being implemented to minimize e-waste generation, including use of renewable materials, production process modifications, and green packaging options.

 

E-waste Management Market Segmentation

Based on the Source Insights the market is segmented into Industrial Electronics, Consumer Electronics, Others

  • The consumer electronics segment was the leading contributor to the e-waste management market in 2016. The trend is poised to continue through 2025. Consumer electronics can be segmented into household appliances, handheld electronic devices, IT accessories, IT equipment, and PCBs.
  • The industrial electronics segment includes IT & telecom equipment and medical equipment. It is anticipated to progress at a CAGR of over 3.5% during the forecast period. The growth of the segment can be attributed to increasing establishment rate of IT and telecom solution providers coupled with growing healthcare industry across the globe.

 

Based on the Processed Material Insights the market is segmented into Metal, Plastic, Glass, Others

  • The metal segment accounted for the leading share in the market in 2016. It is likely to post a CAGR of more than 4.0% over the forecast period. Electronic and electrical products comprise components that use metal tracks, metal solders, and conductive metals. Metals are essentially used in every individual component, printed circuit boards (PCBs), and microcontrollers, owing to which this segment is estimated to exhibit the highest growth over the forecast period.
  • The plastic segment is also projected to post healthy growth over the forecast period owing to rising usage of plastic in numerous electric devices, including food processors, computers, kettles, lawnmowers, and telephones. The glass and other material segments are expected to rise at a moderate growth rate from 2017 to 2025.

 

Based on the Application Insights the market is segmented into Disposal, Recycle

  • The disposal segment dominated the market in 2016. The disposal of e-waste is carried out through three procedures, including landfilling, reusing, and incineration. However, both landfilling and incineration are observed to have a negative impact on the environment as well as human health to a large extent.
  • Reuse is an economical and sustainable method to reduce e-waste generation globally. Recycling is likely to register a substantial CAGR of over 3.5% during the same period owing to global awareness programs undertaken by various governments and non-governmental organizations (NGOs) that focus on the effective collection, treatment, and recycling of e-waste. Moreover, companies such as Microsoft, Dell, HP, and Panasonic Corporation have already introduced initiatives by connecting with recycling companies to organize large take-back programs in order to recycle or reuse obsolete equipment.

 

Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa

  • Asia Pacific was at the forefront of the arena in 2016. The region is estimated progress at a CAGR of approximately 6.0% over the forecast period. Rising disposable income in developed and developing economies coupled with the increasing espousal of electronic devices is one of the key growth stimulants for the market in the region.
  • The Middle East & Africa region is expected to post the highest CAGR over the forecast period owing to illegal dumping of e-waste from developed countries coupled with rising government regulations for systematic collection and recycling of electronic scrap in the region.

 

Market Share Insights

  • March 2022: Sims Lifecycle Services (SLS), a global leader in IT asset disposition (ITAD), data center IT circularity and electronics recycling, today announced its 2025 sustainability goals to demonstrate its dedication to corporate responsibility and alignment with many goals set forth by its global clientele.
  • August 2012: EU rules on treating waste electrical and electronic equipment, to contribute to sustainable production and consumption.

 

Key Companies Profile:

Companies in the market are largely investing in research & development to introduce cost-effective and technologically advanced recycling equipment.

Some of the prominent players in the e-waste management market

  • Electronic Recyclers International, Inc.
  • Enviro-Hub Holdings Ltd.
  • MRI (Australia) Pty Ltd.
  • Sims Recycling Ltd.
  • Umicore S.A.;and Waste Management, Inc.

 

Order a free sample PDF of the E-waste Management Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web https://www.grandviewresearch.com/

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