Global e-waste management market expected to reach a value of around USD 11 billion by 2024, growing at a CAGR of around 20.2% between 2018 and 2024.
NEW YORK, UNITED STATES, February 19, 2020 /EINPresswire.com/ — Facts and Factors Research has published a new report titled “E-Waste Management Market – By Material Recovery (Plastic, Metals, Glass, PCBs, Ceramics, Wood, and Others) and By Source Type (Household Appliances, Entertainment, Consumer Electronics, IT & Telecommunications, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”.
According to the report, the global e-waste management market was valued at approximately USD 3 billion in 2018 and is expected to reach a value of around USD 11 billion by 2024, growing at a CAGR of around 20.2% between 2018 and 2024.
E-waste or electronic waste is the disposal of electronic or electrical equipment. Moreover, used electronic devices that can be reused, resold, refurbished, and recycled through material recovery are also considered as e-waste. Apart from this, electronic waste is generated when an e-product is disposed of after the end of its lifecycle. A large amount of e-waste is produced as a result of the massive consumption of electrical or electronic products by the consumers.
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Furthermore, the disposal of electronic waste is rapidly evolving as an environmental & public health issue across the globe. Inappropriate dismantling and processing of electronic wastes can prove to be hazardous for human health & ecosystem. Hence, proper e-waste management is the need of the moment.
The onset of new technologies like IoT to drive the market trends
Swift urbanization and industrialization witnessed both in the emerging economies as well as developed countries have resulted in the adoption of new technologies like IoT. This, in turn, has created a huge demand for electronic materials in the business sphere giving rise to the production of e-waste, thereby driving market trends.
Furthermore, health problems like bronchitis, Wilson’s disorder, and damage to kidneys are caused due to the release of electronic wastes, thereby generating the massive requirement for developing proficient methods to dispose of e-waste. This will prompt the proliferation of the e-waste management industry during the period from 2019 to 2025. Apparently, electronic equipment producers are enforcing sustainable e-waste disposable methods like green packaging alternatives, and usage of renewable electronic products along with the execution of take-back policy for managing e-devices at the end of their lifecycle. These aforementioned factors are projected to help the e-waste management industry gain traction over the forecast timeline. Moreover, governments across the globe are implementing laws & guidelines to effectively manage e-waste.
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Metals to dominate the material recovery segment by 2024 in terms of revenue
The growth of the metals segment over the forecast timeline is attributed to the massive usage of the metal tracks, conductive metals, and metal solders in manufacturing some of the key components of electronic & electrical items. Apart from this, metals find extensive applications in microcontrollers and printed circuit boards.
Consumer electronics segment to establish a dominant position among the source types by 2024
The segmental growth over the period from 2018 to 2024 is due to the massive demand for consumer electronic goods in the commercial as well as residential sectors.
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North America to contribute majorly towards the overall market revenue share by 2024
The regional market growth during the forecast timeframe is credited to a large amount of the e-waste produced in the North American sub-continent as a result of a reduction in the lifespan of the consumer electronic goods like computers, desktops, laptops, smartphones, and tablets producing a huge amount of e-wastes requiring effective disposable.
Some of the key participants involved in in the e-waste management business include Aurubis AG, MBA Polymers, Inc., Umicore S.A., Stena Technoworld AB, Tetronics (International) Limited, Global Electric Electronic Processing, Inc., Enviro-Hub Holdings Ltd., Electronic Recyclers International Incorporation, Boliden AB, and Sims Metal Management Ltd.
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This report segments the global E-waste Management market as follows:
Global E-Waste Management Market: Material Recovery Segment Analysis
Global E-Waste Management Market: Source Type Segment Analysis
IT & Telecommunications
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