E-Waste Management Market Size, Share & Trends Analysis Report By Processed Material Type (Metal, Plastic, Glass, Others), By Source Type (Household Appliances, Industrial Electronics, Consumer Electronics, Others), By Application (Trashed, Recycled) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

wElectronic garbage, sometimes known as e-waste, refers to outdated electronics and electrical equipment. E-waste includes used electronics for recycling through material recovery, refurbishment, resale, reuse, or disposal. In industrialized and emerging nations, e-waste is one of the waste sources that is expanding quickly. Electrical, electronic, and consumer electronic equipment shorter lives are producing a lot of e-waste, increasing quickly every year. The main driver of the e-waste management market's growth is the rising necessity for updating to the newest technology. The drive to adopt new, technologically advanced equipment causes millions of tons of e-waste to be produced annually in many countries.

Government initiatives and rules for efficient e-waste management and an increase in e-waste collection zones worldwide are anticipated to help the problem. As a result, the market is growing. However, expanding the worldwide market depends on public knowledge of recycling initiatives in poorer nations and the associated expenses. Additionally, it is projected that the shorter life cycle of electronic gadgets would result in the disposal of useful electronic equipment as e-waste. As a result, possibilities for e-waste recycling solutions are being created, which is anticipated to significantly fuel market expansion.

Market Dynamics

Global E-Waste Management Market Drivers

Reduced Life Span of Electronic Devices and Lack of Precious Metal Sources

Electronic product sales have increased dramatically due to rapid technological development and ongoing product innovation. Globally, computers, televisions, and mobile devices are rapidly growing. With rising purchasing power and a rising trend in disposable income, the sale of these electronics is increasing steadily. Additionally, introducing new items with improved features and extra services encourages users to replace outdated products with more recent models. Due to this, these devices now only last 3–4 years on average. Consequently, the amount of e-waste is increasing rapidly and driving industry participants to grow their businesses to set up additional processing facilities and create an extensive network for collecting e-waste.

In the upcoming years, the continued sale of electronic items, particularly in emerging nations, will create a good climate for the management of e-waste. Additionally, daily product launches by companies in the electronic industry are made possible by rapid technological developments and ongoing product innovations, which shortens the lifespan of all white goods. Additionally, when disposable income rises, consumers can purchase high-end electronic equipment, which fuels demand for these products.

Additionally, the prices of certain metals have been rising quickly due to the ever-increasing demand and scarcity of these materials. To be used in another process, these metals must be recovered from e-waste. Unique and precious metals like silver, gold, palladium, platinum, indium, and gallium are found in e-waste. Consumer electronics, IT, and communication gadgets are all produced using these rare elements. The pricing of their items is similarly high due to the rarity of these metals. The need to recycle, repair, and reuse metal-based electronics has increased. As a result, these problems would undoubtedly prompt producers of electronic goods to search for raw materials from recovered e-waste.

Global E-Waste Management Market Restraints

High Recycling Cost

Problems with e-waste recycling have been caused by a lack of e-waste collection facilities and expensive processing techniques. Due to the lack of such a system, many obsolete products are tossed in the trash or kept in warehouses and storerooms. Therefore, a structure for regular collection of e-waste must be established to ameliorate the situation. The current state of recycling programs is hampered by an inadequate number of waste pickup zones. Customers are also unaware of these pickup zones, which causes waste to be disposed of inconveniently by burning it in conventional methods, for example. Pollution and health risks result from this.

Global E-Waste Management Market Opportunities

Initiatives by Electronic Manufacturers

Many electronic item makers today know the financial benefits of processing and recycling e-waste. During R&D and manufacturing processes, significant amounts of e-waste are produced, and firms are taking steps to recover the necessary elements from this trash. After being recycled, mobile phones contain valuable metals, including gold, silver, and palladium, that can be recovered. As a result, many leading cellphone makers have launched their own initiatives to collect old phones from users who want to upgrade their technology.

Many governments have also begun to take action by urging makers of electronic items to organize internal e-waste management projects or to outsource these initiatives to external organizations. Each year, the amount of e-waste in developed countries is increasing at an alarming rate. The improper recycling of this rising e-waste creates environmental damage and health risks. Additionally, some recyclable materials are wasted as a result of this because they are thrown out as rubbish. Increasing awareness of recycling initiatives is now essential to combat these issues.

Regional Analysis

The region-wise segmentation of the global e-waste management market includes North America, Europe, Asia-Pacific, and LAMEA.

The Asia Pacific and Europe will dominate the regional market

The Asia Pacific is forecasted to command the regional market while expanding at a CAGR of 11.57%. The actual life lifetime of electronic items like computers and smartphones has been significantly impacted by new product developments as a result of ongoing innovation and price reductions. Additionally, the region's numerous countries' rising per capita incomes have encouraged consumers to frequently upgrade their goods purchases. In the past ten years, sales of electronic equipment like computers, refrigerators, and mobile phones have increased, leading to an increase in the amount of e-waste in the area.

The volume of e-waste grows yearly due to increased sales of electrical and electronic equipment and reluctance to repair broken items. Since the cost of repairs can sometimes exceed the price of a brand-new product, users usually opt not to fix damaged or obsolete electronics. This contributes to the yearly increase of e-waste. Additionally, the transfer of e-waste from developed regions to developing nations like India, China, and Pakistan opens up a wide range of possibilities for efficient e-waste management.

Europe will likely have a revenue holding of USD 54 billion, growing at a CAGR of 14.66%. One of the waste streams in the EU that is expanding the fastest is electronic garbage, which includes refrigerators, cell phones, and laptops. E-waste recycling is crucial because of the explosive growth in electronic and electrical equipment waste, lack of valuable metals, and high mining costs. Europe has also established stringent environmental protection legislative frameworks because, in comparison to other continents, it has the least amount of area remaining for landfills. The area's market for recycling e-waste is expanding due to all these causes.

A significant amount of the overall garbage produced in Europe comprises electronic and electrical equipment. Stricter regulatory rules have been established in European countries due to rising pollution levels and decreased land for waste disposal. Therefore, the situation has improved due to significant attention being paid to controlling this garbage to prevent the unlawful transportation of e-waste to underdeveloped countries. Additionally, a high rate of electrical and electronic equipment recycling among consumers and collaboration between public and private sector organizations have fostered a favorable climate for the e-waste recycling business in this region.

Segmental Analysis

The global e-waste management market is analyzed across the process material, source, application, and region.

By Process Material Type Analysis

Per the process material type, the categories include metal, plastic, glass, and others.

The metal section is predicted to hold the largest share, advancing at a CAGR of 14.58%. Due to the dramatic changes in the electric and electronic industry over the past ten years, the amount of electronic scrap has expanded, and recycling and incineration of these materials have gained significant ground. Additionally, the lack of toxic waste discharge from cremation and scrap has raised the demand for effective scrap management strategies due to the rise in health risks such as kidney damage, bronchitis, and other ailments. Thus, mechanical recycling and thermo-chemical processes like pyrolysis, pyro-, hydro-, and bio-metallurgical processes play a significant role in metal recovery from e-waste (MREW) technology.

The plastic section will hold the second-largest share. Electronics use plastics with a different polymer makeup than recycled materials like milk jugs or soda bottles. Contrarily, the plastic in phone cases is typically a complex polymer blend, making recycling a challenge. Numerous technological advancements, including flame retardants, significantly hinder recycling plastic from e-waste. The expansion of e-waste management activities, particularly in developing nations, is a crucial driver of the segment's growth in the global market.

By Source Type Analysis

Per the source type, the categories include household appliances & industrial electronics, consumer electronics, and others.

The household appliance section is predicted to have the most significant shareholding, growing at a CAGR of 12.8%. The primary sources of e-waste are home appliances. The causes driving an increase in the sale of electronic devices include an increase in per capita income, technical advancements, and global population growth. Most electrical devices discovered in scrap nowadays are home appliances, including refrigerators, lighting, microwave ovens, toasters, and dishwashers. Small appliances like toasters, dishwashers, and microwaves now generate e-waste due to consumers' propensity for buying new devices over repairing them. Consequently, this is causing the development of e-waste.

The industrial electronic section will hold the second-largest share. The sale of computers and laptops has proliferated throughout the world. In addition, there is an enormous amount of e-waste due to the rising demand for other vital devices like printers, fax machines, and Xerox machines. Additionally, a significant portion of the revenue generation has been contributed by the IT industry revolutions and the rising sale and replacement of communication equipment in this region.

By Application Analysis

Per the application, the categories include trashed and recycled.

The trashed section will likely have the highest shareholding, growing at a CAGR of 6.3%. The more affordable and simple solution to handle the enormous amount of e-waste is trash. E-waste is disposed of using this approach either in landfills or incinerators. The main reasons for most of this e-waste being destroyed in developing regions are the absence of efficient recycling and recovery technology and the unlawful transfer of hazardous e-waste to developing countries. Additionally, lax legal frameworks and low labor costs advantage the developed regions in nations like India, China, Egypt, Pakistan, and Nigeria when it comes to disposing of this e-waste.

The recycled section will have the second-largest shareholding. The health of people has been severely harmed by the disposal of e-waste. Insufficient area for dumping has also given rise to worries about the volume of e-waste, which is constantly growing. Recycling has several advantages, including recovering rare metals from waste and lowering pollution levels. Computers, televisions, and mobile phones, among other e-waste items, can all be recycled. Detoxication, shredding, and refinement are standard recycling technologies.

Impact of covid-19

Even though the COVID-19 pandemic had only a little influence on the game engine business, consumers favored online games over offline games, resulting in a decline in demand for offline games, including video games. However, as the demand for online games has grown, several market participants have stepped up their efforts to advance gaming technology. New gaming goods are introduced to cater to the growing need for game engines among game creators. The games engine is primarily intended for use in creating video games.

It incorporates features like 3D graphics, scripting, sound, networking, streaming, artificial intelligence, memory management, and others into a single package. Additionally, dedicated servers and online data storage facilities are being used to improve online multiplayer gaming. Over time, cloud gaming has grown increasingly popular in the gaming business. It has also become huge popular among PC and mobile players alike in recent years.

Cloud games will experience a significant increase in demand during the anticipated period, contributing to the overall growth of the games engine market. Cloud games will see significant demand as 5G and internet access become more widely available. Businesses focusing on entering the market will find it quite profitable.

Recent Developments

• In 2022, Electronic Recyclers International, Inc. stated that it had earned its compliance certification and had successfully passed the Service Organization Control (SOC) 2 Type 1 assessment, making ERI the first and only SOC 2 accredited e-waste recycler in the sector.
• In 2022, Electronic Recyclers International, Inc. formally introduced OneDrumTM, the market's first mixed consumer battery collection product.