Future of E-waste Management Till 2027- Demand, Revenue and Growth Factors
E-waste or electronic waste is the discarded electronic or electrical devices and equipment. An electronic/electrical device reaches to the recycle stage due to end of its life cycle, new innovations in technology, or owing to the changing expectations of the consumers. The reduced life span of electrical, electronic and consumer electronic devices (mobile phones, TVs, computers, fridges, washing machines, and others) has already led to a significant amount of e-waste being generated and it is increasing exponentially. The increasing desire of people for adopting newer and technologically advanced devices has led to generation of tons of e-waste across the globe. These products contain materials having high value, at the same time, they can lead to environmental pollution if incinerated or land filled.
There are many factors driving the e-waste management market globally. The continuous innovations in electronics and electrical industries along with the migration from analog to digital technologies have led to tremendous increase in the e-waste being generated, thereby fueling the global e-waste management market. Furthermore, the awareness about harmful effects caused by e-waste materials to environment and health of living beings has significantly contributed to growth of e-waste management market worldwide. In addition, the requirement to recycle and reuse the valuable substances/minerals present in electrical and electronic devices is another factor bolstering the global e-waste management market. The global e-waste management market is further strengthened owing to a number of government rules being implemented for the regulation, reuse and recycling of e-waste.
Get PDF Brochure @ https://www.theinsightpartners.com/sample/TIPTE100000152/
Lack of awareness regarding efficient and low cost recycling process, especially in non-developed regions, leads to higher cost for recycling the e-waste, thereby limiting the e-waste management market in such regions. Another major challenge for global e-waste management market is unlawful dumping of e-waste materials by developing nations into remote locations of emerging regions. This leads to misuse of e-waste and being hazardous to environment and health. Moreover, the awareness about e-waste management is much lesser in developed regions which in fact produce large amount of e-waste materials.
With rapid advancement in technologies for the development of electrical and electronic devices, the amount of e-waste materials generated is believed to increase exponentially year on year, thus providing opportunities for global e-waste management market. Initiatives taken by leading electronic manufacturers (such as Dell, HP, Cisco, etc.) towards effective e-waste management methods, thereby promoting similar practices in order to get environment friendly certifications from third party auditors are expected to be key opportunity areas for the players in this market.
The global e-waste management market has been segmented based on recycler type into glass recycler, plastic recycler, metal recycler, and printed circuit board (PCB) recycler. Furthermore, the market is classified on the basis of material recovery as metal, plastic, and glass including others. In addition, the global e-waste management market has been segmented based on source type into household appliances (washing machines, refrigerators, air conditioners, etc.), entertainment & consumer electronics, and IT & telecommunication (computers, phones, printers, etc.).
The global e-waste management market has been geographically segmented as North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). Currently, North America is the largest producer of e-waste materials, which the region exports to developing nations for recycling, dominates the global e-waste management market. The cheap production cost of advanced electrical and electronic products and large base of users in APAC are believed to spur the e-waste management market significantly in the region. The major players operating in this market include Aurubis AG, Global Electric Electronic Processing Inc., Boliden AB, Stena Technoworld AB, Electronic Recyclers International, Inc., Sims Metal Management Ltd., MBA Polymers, Inc., Umicore S.A., Tetronics Ltd., and Enviro-Hub Holdings Ltd. among others.