Increasing Electronic Waste Across the Globe Is likely to Drive the E Waste Market Size By 2022
The global electronic waste recycle market is estimated to reach USD 39,498.81million by 2024 with a CAGR 13.03% during the forecast period (2018–2024).
Increasing electronic waste across the globe and rise in employment opportunities in developing countries are some of the factors responsible for the growth of the market during the forecast period. However, the lack of regulatory and recycling infrastructure is expected to hamper the growth of the market. There is a lack of established collection channels for e-waste from the generator to the recycler in developing countries like India and Pakistan. Currently, in most developing countries, regulations and standards imposed by government agencies for electronic waste recycling are not being followed by e-waste management companies; this has led to a negative impact on market growth. Moreover, there is a severe lack of monitoring and enforcement of the regulations on e-waste management in developing countries, which has further increased the use of non-standardized methods for e-waste recycling. Hence, the lack of regulatory and recycling infrastructure in developing countries expected to hamper the growth of the global electronic waste recycling market during the forecast period.
Competitive Analysis
The prominent players profiled in the electronic waste recycle market include Tetronics International Limited (Wiltshire), Electronic Recyclers International Inc.(US), Sims Metal Management Limited (US), Aurubis AG (Germany), Boliden AB (Sweden), Attero Recycling Pvt. Ltd (India), Umicore S.A (Belgium), GEEP Inc (Canada), Enviro Hub Holdings Ltd (Singapore), and Stena Technoworld AB (Sweden).
Segmental Analysis
The electronic waste recycle market segment has been categorized on the basis of material, source, and region.
Based on source, the electronic waste recycle market has been segmented into consumer electronics and industrial electronics.
Based on material, the electronic waste recycle market has been categorized into metals and chemicals, plastics, glass, and others.
Regional Analysis
Geographic analysis of the electronic waste recycle market spans across North America, Europe, Asia-Pacific (APAC), and the Middle East & Africa, and South America.
Europe is expected to be the largest electronic waste recycle market during the forecast period. The market in this region has been further categorized into Germany, the UK, France, Italy, Spain, and the rest of Europe. Germany accounted for largest market share in 2018 at a CAGR of 10.32% during the forecast period. The UK is the second-largest market expected to register the highest CAGR of 15% during the forecast period. Germany holds the largest market share in the European electronic waste recycling market. Also, the country has stringent rules & regulations for recycling and reuse of electronic waste. These are some of the factors responsible for the growth of the market in this region.
Asia-Pacific is expected to register the highest CAGR during the forecast period. For the purpose of analysis, the market in Asia-Pacific has been categorized as China, Japan, India, and the rest of Asia-Pacific. The growing development and penetration of Electronic Waste Recycling technology in China, Japan, India, Australia, New Zealand, South Korea, and Taiwan rapidly drive market growth in this region. The growing demand for electronic waste recycling technology among Asian healthcare & life science sector for drug research and diagnostics purpose also boost the market growth in Asia-Pacific. Furthermore, there is high adoption of electronic waste recycling technology among banking and financial services, IT & telecommunication, retail, media & entertainment industries in the Asian countries.
Europe holds the largest market share in the electronic waste recycling market. The region has proper legislation by the governments for various countries, which is driving the growth of the market. Additionally, increasing awareness about e-waste recycling and government initiatives are factors expected to drive the growth of the market.
The rest of the world segment is expected to account for a significant market share in the global electronic recycling market during the forecast period.The region has been segmented into the Middle East & Africa and South America. The market in the Middle East & Africa is driven by countries such as Saudi Arabia, the UAE, Oman, South Africa, and Egypt owing to the growing ownership of mobile phones, laptops, and other consumer electronic devices. Additionally, the region exhibits the presence of various e-waste management facilities, which allows the recycling of e-waste products and drives the growth of the market.
The South America market is driven by growth in countries such as Brazil, Argentina, Peru, Chile. Brazil accounts for the largest market share in South America due to the increasing volume of e-waste generated by the country. Additionally, the increasing consumption of new consumer electronic devices with advanced technology replacing the older ones has instilled the need for e-waste recycling.
More Information@
Electronic Waste Recycling Market by Source, Share, Growth and Analysis – 2024 | MRFR
Electronic Waste Recycling Market is probable to expand at 13.03% CAGR over 2024, Global Electronic …
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