Global Statistics Representing E-waste Management Market Scenario
E-waste is one of the fastest growing pollution problems across the globe as it contains materials that are hazardous to environment and human health. Discarded computers, VCR, cell phones, television, audio equipment, stereos, copiers, fax machines, electric lamps are some of the major type of e-waste. E-waste that landfilled produces contaminated leachates, which eventually pollute the groundwater. Thus, proper management is important for its disposal and recycling. The International Association of Electronics Recyclers (IAER) estimated that 3 billion electrical and electronic appliances could become e-waste. Globally, around 20–50 MT of e-waste is disposed every year, which accounts for 5% of all municipal solid waste. Several initiatives are being taken to reduce the e-waste by governments for e-waste management across various regions. Some of the leading players in the e-waste management market are taking measures for recycling the waste to reduce the environmental hazards and pollution.
Global e-waste management market was valued at USD 2600 million in 2017 and expected to grow at CAGR 13.5% over the forecast period 2019–2026.
Growing government initiatives to reduce e-waste, increasing middle-class population in developing economies, and shifting consumer preferences are driving the demand for new and updated consumer durables, which, in turn, piling up the number of old electronic devices and accessories. For instance, Union Minister for Environment, Forest, and Climate Change has made it mandatory to all the manufacturers of electronics goods to source back 15% of their products as e-waste.
Innovation in home appliances and technology upgradation in electronics devices has led to generation of more e-waste, thus, boosting the growth of the e-waste management market. With growing the industrialization, electronics goods are increasingly becoming affordable and eventually increasing demand for these products. This increased purchase of electronic products is giving birth to a greater number of e-waste such as discarded old appliances like refrigerator and washing machine.
Key Intended Audience
Global e-waste management market is segmented by types, source type, and application.
By types, e-waste management market is segmented into trashed and recycled. As per the estimation of EPA, currently about 60% of discarded electronics end up in the trash. However, recycling is expected to increase over the forecast period.
On the basis of source type, the market is segmented into household appliances, entertainment and consumer electronics, IT & telecommunications, and others. Consumer electronics is likely to witness the highest growth over the forecast period–2026. It mainly includes household appliances, entertainment and consumer electronics, IT & telecommunications, and others.
On the basis of application, e-waste management market is segmented into disposal and recycle. Disposal segment is expected to hold the largest market share during the forecast period–2026. It carried out mainly by three types i.e. landfilling, reusing, and incineration.
On the basis of geography, the global e-waste management market is segmented into North America, Europe, Asia Pacific, and LAMEA.
North America is expected to dominate the global e-waste management market since it is extremely prone to environment contamination. Increased adoption of electronic products and their reduced durability is generating large amount of e-waste in North America.
Waste electrical and electronic equipment (WEEE) such as TV-sets, computers, cell phones and fridges are wilder growing in Europe and is expected to reach 12 million tonnes by 2020. Rising metal prices combined with waste electrical and electronic equipment (WEEE), there is a huge opportunity for e-waste recyclers in Europe. European legislation and policies are also driving the market for e-waste management.
Asia Pacific is one of largest e-waste generators in the world due to high consumption of electronics goods. China, Japan, India, and Hong Kong are some of the major e-waste generating countries in the region. According to National WEEE Task Force, India generated 146,000 tonnes of e-waste or WEEE in 2005. In developing countries, people are buying more electronic goods for replacing old, resulting into generating e-waste.
LAMEA is likely to witness considerable growth in the global e-waste management market during the forecast period due to government regulations for systematic collection and recycling of electronic waste.
Some of the key players in the global e-waste management market are Enviro-Hub Holdings Ltd. (Singapore), Global Electric Electronic Processing Inc. (Canada), MBA Polymers, Inc. (U.S.), Electronic Recyclers International, Inc. (U.S.), Aurubis AG (Germany), Boliden AB (Sweden), Sims Metal Management Ltd. (Australia), Umicore S.A. (Belgium), and Stena Technoworld AB (Sweden).
In December 2017, MBA Polymers, Inc. founded a plant in India to develop waste management and post-consumer plastic production unit in Pune, India. The new plant has capacity of recycling up to 100 MT of electronic and automotive plastic waste to produce post-consumer plastic for the booming Indian and Asian market.
E- Waste Management Market Segmentation
Why buy this report?
E-waste management market has huge potential as electronic waste is one fastest growing forms of the waste. For instance, as per the U.S. Environmental Protection Agency (EPA), Japan recycles more than 2 million tons of electronic waste annually where as U.S. only recycles about 679,000 tons annually. This statistic is showing that Asia pacific region has significant opportunity in e-waste management market. Furthermore, the advent technology is expected to play a major role in the success of e-waste management.
Moreover, following sections are specifically covered in the report.