E-Waste Management Market Size & Share Sees Big Growth by 2024
Global E-Waste Management Market: Overview
The rejected electronic devices and components or the waste materials that are involved in their manufacturing are known as electronic waste or e-waste. The e-waste contains computers, televisions, mobile phones, white goods such as washing machines, tablets, dryers, stereo systems, kettles, fridges, toys, digital cameras, home entertainment systems, toasters; almost any of the components that involve power or the battery supply. As the manufacturing of the electronic appliances is on the rise; the generation of the e-waste has thus increased rapidly.
Global E-Waste Management Market: Segmentation
The global e-waste management market is segmented into its material recovery, source type, and regions. On the basis of material recovery, the global market is segregated into plastic, metals, glass, PCBs, ceramics, wood, and others. Based on the source type, the market is categorized into household appliances, entertainment and consumer electronics, IT & Telecommunications, and others. Region-wise, the e-waste management market is diversified into Asia Pacific, North America, Europe, and Rest of the World.
Global E-Waste Management Market: Growth Factors
The key reason for the growth of the e-waste is the increasing innovation of the products, especially in the electronics and home appliances middle East sector, for example, big huge size televisions are now replaced by the flat-screen televisions. In addition, the economic growth along with industrialization and urbanization, and the increase in the growth of the production of electronic goods and its low cost has increased the growth of the e-waste globally. This growth will continue to grow in the coming years. The e-waste management market has a good scope in the global market owing to its potential to recover and recycle the materials such as plastics, metals such as ferrous metals and the non-ferrous metals, glass, and others. These materials are recovered from different types of electronic waste resources. These waste may contain harmful toxic substances which can adversely affect the human health, thus the government of various regions is taking initiatives to invest in the e-waste management, thus triggering the market growth. Various measures are being adopted to reduce the amount of e-waste which includes the technical intervention such as, production process modification, product design, the use of renewable materials and energy, and much more.
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Global E-Waste Management Market: Regional Analysis
Region-wise, the e-waste management market is diversified into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.The region that dominates the world in generating the e-waste is the North America. To be specific, in the North American region the US is the region that produces the maximum e-waste. North America is followed by Europe and Asia-Pacific. The regions that produced the lowest e-waste is Haiti and Afghanistan. Many countries such as Egypt, China, Switzerland, England, Japan, and many others along with many IT and electronic goods manufacturing organizations have joined hands with the global organization StEP which helps in improving the methods to dispose of the e-waste.
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Global E-Waste Management Market: Competitive Players
The major market players in the e-waste management market include Aurubis AG, MBA Polymers, Inc., Global Electric Electronic Processing Inc., Stena Technoworld AB, Enviro-Hub Holdings Ltd., Boliden AB, Electronic Recyclers International, Inc., Umicore S.A., Tetronics (International) Ltd., and Sims Metal Management Ltd.
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