Pune, India, April 19, 2021 (GLOBE NEWSWIRE) -- The global demand for E-Waste Management market in terms of revenue was estimated to be USD 33.58 Billion in 2017 and is expected to reach USD 102.46 Billion in 2026, growing at a CAGR of 11.8% from 2020 to 2026. High Expenditure and Short Life of Electronics Products are key driving factors for the growth of E-Waste Management Market
E-Waste or Electronics Waste is any electronics components that have been dumped or thrown away. Some of the products which are undesirable and stopped working or at the end of their working life are included in this waste. Device like Mobile phones, Computers, Televisions, Fax machines, Kitchen Appliances are some of the everyday use Electronics items. Dumping of these products leads to dangerous E-Waste as they hide toxic materials and chemicals causing serious environmental issues and a chain of pollution. In 2018, UN estimated that 50 million tons of E-Waste was generated worth $62.5 billion annually and ‘Tsunami of E-Waste’ name was given. Globally various organizations made agreements & policies in attempt to control and manage the E-Waste. E-Waste Management consists of different methods which are adopted in attempt to reduce the effects of waste are Repairing, Recycling, Dismantling to Reuse Materials and Disposal methods includes Burning, Burial, Recovery or Dissolution of Metals.
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Availability of valuable substance in E-waste and Short Life cycle of Electronics are key driving factors for the growth of E-Waste Management Market
The major factors driving the growth of global E-Waste Management market is short life cycle of electronics as well as presence of valuable substance in E-waste. With the advancement in technology and designs, it urges the consumers to replace old products with the brand-new ones. Due to this cycle, E-Waste is generated. Global E-Waste Monitor 2020 report recorded that 53.6 million metric tons (Mt) of E-Waste was generated in 2019 globally and only 17.4% of E-Waste was collected and recycled. The reason behind this alarming numbers is mainly by large expenditure on electronics equipment, fewer options for repairing and short life which are also expected to contribute the growth of E-Waste Management Market. Moreover, increase awareness among people about environment conservation along with increased use of refurbished product is also expected to fuel the market growth. However, Lack of awareness among consumers with high cost of recycling is expected to hamper the growth of E-waste management market. On the other hand, lack of stringent regulatory framework in developing economies for E-waste management is expected create opportunities in untapped region with expansion strategy of various key market players.
Europe is dominating the Global E-Waste Management Market
Europe is expected to dominate the global E-Waste Management market within the forecast period attributed to good collection and recycling culture. As reported in ITU news in 2019, Switzerland sets the great example to deal with environmental issues as from the past decade they are supporting and encouraging to adopt environmental friendly E-Waste methods in developing countries like Egypt, Colombia and Peru. The country has collected and recycled around 95% of E-Waste in 2016. They created ‘Take-Back’ system for consumers to take E-Waste back to the electronic shops.
Asia-Pacific is also emerging in this market due to many E-Waste policies followed by countries like Taiwan, India, Japan, China and South Korea. Countries like India and China have high number of dumping spots which will contribute to improving E-Waste Management in these areas. North America is also expected to follow Europe in terms of market size owing to the stringent regulatory policies and increasing awareness among people along with increased use of refurbished products. All the above mentioned factors are expected to promote the market growth over the forecast period.
The regions covered in this Global E-Waste Management Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Food Waste Management is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
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Key Players for E- Waste Management Market Report:
Some major key players for Global E-Waste Management Market are MBA Polymers, Aurubis AG, Boliden AB, Sims Metal Management Ltd, Umicore, Trojan Electronics Ltd, Stens Metall Group, Tetronics International, Triple M Metal, Enviro-Hub Holdings, Global Electric Electronic Processing Inc, Electronics Recyclers International and others.
News: East Coast Electronics Recycling (ECER) urges Organizations to adopt E-Waste Resolutions.
January 12, 2021; The article published in Accesswire briefed that the leading ECER is urging other businesses, governments, schools and hospitals to adapt three E-Waste resolutions in 2021: 1. To conduct an audit to identify disposable and recyclable electronics items, 2. Ask employees to conduct audit for their home & office and 3. Choose righteous E-Waste partner.
Over 100 E-Waste Collection Points setup by Globe
January 13, 2021; In order to encourage about practicing proper disposal of battery operating devices and electronics items and also assisting environmental protection acts, Globe sets up 100 collection points for E-Waste disposal. The company is also aiming to expand the points to other Globe stores in coming months for easy participation of public and other organizations.
Global E-Waste Management Market Segmentation:
Global E-Waste Management Market report is segmented on the basis of types, sector and region & country level. Based upon types, Global E-Waste Management Market is classified into electronic devices, home appliances, medical equipment, laboratory devices. Based upon the end-user, global E-Waste Management market is classified into home, industries, hospitals & laboratories, educational institutes.
By Type:
- Electronic devices
- Home appliances
- Medical equipment
- Laboratory devices
By End-User Type:
- Home
- Industries
- Hospitals & laboratories
- Educational Institutes
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