At 13.9% CAGR, Global E-Waste Management Market Size to Hit US$ 1,07,465.9 Million by 2028
As per Facts and Factors study, The global e-waste management market was worth around USD 49,218.5 million in 2021 and is estimated to grow to about USD 1,07,465.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.9% over the forecast period.
NEW YORK, Jan. 12, 2023 /PRNewswire/ -- As per Facts and Factors study, The global e-waste management market was worth around USD 49,218.5 million in 2021 and is estimated to grow to about USD 1,07,465.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.9% over the forecast period.
E-Waste Management Market: Overview
Electronic waste (E-waste) is defined as e-waste which includes special and precious metals such as gold, silver, platinum, palladium, gallium, and indium which are broadly utilized in the manufacturing of consumer electronics and IT and communication devices. The major factors that are expected to drive the growth e-waste management market in the forecast period are the reduced electronic product life cycle and the rise in the concern regarding the conservation of the environment and health.
The growing e-commerce sales of electronics are also expected to boost the growth of the e-waste recycling market in the coming years. The governments of various countries across the globe are increasingly introducing various policies for e-waste management across the value chain of the electronic devices industry. In addition, several non-profit organizations and government agencies are also taking initiatives to increase awareness regarding the proper disposal of e-waste among consumers. This factor will have a positive impact on the e-waste management market. The government policies and standards for e-waste management are also expected to cushion the e-waste management market's expansion.
Furthermore, the organizations that have been specialized by third-party auditors will present additional potential prospects for the expansion of the e-waste management industry in the future years. Moreover, the accessibility of valuable substances in e-waste is further anticipated to propel the growth of the e-waste management market. However, the advancing countries' unlawful dumping of e-waste may provide an additional impediment to the expansion of the e-waste management market in the near future.
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Facts and Factors published the latest report titled "E-Waste Management Market By Equipment Type (Small Equipment, Large Equipment, Temperature Exchange Equipment, Screens, Small IT Equipment, Lamps), By Method (Recycling & Reuse, Dispose/Trash, Landfill, Incineration), By Waste Source (Household Appliances, IT & Telecom Equipment, Consumer Electronics (CE), Printed Circuit Boards (PCBs), Industrial Electronics (IE), Medical Equipment), By Material(Metals, Non-ferrous Metals, Ferrous Metals, Plastic & Resins, Other Materials), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028" into their research database.
E-Waste Management Market: Growth Drivers
The growing burden of e-waste generation in emerging countries drives the overall e-waste management market.
The continuous increase in the volume of e-waste due to technological advancements led to the introduction of new products at a rapid pace, particularly in the portable electronics category, such as tablets and wearables like smartwatches, and others are driving the E-Waste Management Market in the forecast period. In addition, rapid industrialization, growing populations, and a rapidly expanding middle-class population that is able to afford more gadgets. This, along with a growing consumer taste for modern devices with improved design, features, and functions, is driving the increase in the volume of e-waste created. The growth in the information and communication technology (ICT) industry and the large volume of discarded electronics are rapidly contributing to the burden of e-waste globally, driving the E-Waste Management Market in the coming years. With the majority of countries exporting their e-waste, it has created a significant opportunity for the e-waste importers to capitalize on the lucrative market.
E-Waste Management Market: Restraints
The high cost of recycling e-devices is a major impediment to the E-Waste Management Market.
The presence of valuable materials, highly polluted and toxic compounds, transportation costs, sorting costs, deteriorating infrastructure, and inadequate financing for e-waste treatment are all contributing factors to the high cost of recycling e-devices. Apart from the vast differences in e-waste disposal practices, the materials used in electronic devices, such as iron, aluminium, copper, lead, nickel, tin, and plastics, are the most difficult to recycle due to their poor reclamation value and labor costs. Furthermore, LCDs, CRTs, mouse and keyboards, printers, copiers, and coffee pots include roughly 60% to 70% of their entire weight in plastic. Because of these considerations, the cost of recycling e-waste is nearly ten times that of disposing of it. This is one of the major problems impeding the global adoption of e-waste management strategies.
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Global E-Waste Management Market: Segmentation
The E-Waste Management Market is segregated based on Equipment Type, Method, Waste Source, and Material.
By waste source, the market is segmented as Household Appliances, IT & Telecom Equipment, Consumer Electronics (CE), Printed Circuit Boards (PCBs), Industrial Electronics (IE), and Medical Equipment. The Consumer Electronics segment dominated the market in the forecast period. The extensive adoption of electronic devices in the residential and commercial sectors has been the key factor fuelling the demand for consumer electronics. The industrial electronics segment includes IT & telecom equipment and medical equipment and is anticipated to grow at a rapid pace during the forecast period. The growth of the segment is due to the increasing establishment rate of IT and telecom solution providers along with the growing healthcare industry across the globe.
By material, the market is segmented into Metals, Non-ferrous Metals, Ferrous Metals, Plastic & Resins, and Other Materials. The metal segment accounted for the leading share in the market in the forecast period. Electronic and electrical products consist of components that use metal tracks, metal solders, and conductive metals. Metals are basically used in every individual component, printed circuit boards (PCBs), and microcontrollers, because of which this segment is estimated to exhibit the highest growth over the forecast period. In addition, the plastic segment is also projected to show considerable growth over the forecast period due to the growing usage of plastic in numerous electric devices, including food processors, computers, kettles, lawnmowers, and telephones.
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List of Key Players in E-Waste Management Market:
Electronic Recyclers International Inc. (ERI)
Sims Metal Management Limited
Global Electric Electronic Processing Inc.
TRIPLE M METAL LP
Tetronics (International) Limited
Enviro-Hub Holdings Ltd.
Stena Metall AB.
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Market size value in 2021
USD 49,218.5 Million
Revenue forecast in 2028
USD 1,07,465.9 Million
CAGR of almost 13.9 % 2022-2028
2016 – 2021
2022 – 2028
By Type, By Application, By Payload and By Propulsion System
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Electronic Recyclers International, Inc. (ERI), Aurubis AG, Sims Metal Management Limited, Umicore, Boliden AB, Global Electric Electronic Processing Inc., TRIPLE M METAL LP, Tetronics (International) Limited, Enviro-Hub Holdings Ltd., Stena Metall AB., and Others
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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In 2021, Unicore launched CEWASTE, a 2.5-year project funded by the EU's research and innovation program. One of the project's first stages is to identify the sorts of waste streams that included high concentrations of CRMs and investigate whether they could be recovered and recycled using present methods.
Asia Pacific region leads the global E-Waste Management market.
The Asia Pacific dominates the e-waste management market due to an increase in disposable income in developed and developing countries. In addition, the constant latest innovations and continuous decrease in the costs of electronic products will further boost the growth of the e-waste management market in the region during the forecast period.
North America is expected to grow at a considerable rate in the forecast period. The increase is due to the region's growing population, as well as government laws in the United States and Canada that have resulted in an increase in e-waste collection and disposal. Furthermore, open burning and illegal disposal of garbage endanger the health of humans and animals, prompting governments to enact severe regulations against illegal dumping of waste on land and in seas, propelling the region's e-waste management industry.
Global E-Waste Management Market is segmented as follows:
E-Waste Management Market: By Equipment Type Outlook (2022-2028)
Temperature Exchange Equipment
Small IT Equipment
E-Waste Management Market: By Method Outlook (2022-2028)
Recycling & Reuse
E-Waste Management Market: By Material Outlook (2022-2028)
Plastic & Resins
E-Waste Management Market: By Waste Source Outlook (2022-2028)
IT & Telecom Equipment
Consumer Electronics (CE)
Printed Circuit Boards (PCBs)
Industrial Electronics (IE)
E-Waste Management Market: By Region Outlook (2022-2028)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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