Global E-waste Management Market Forecast to 2029 | Data Intelligence
The global e-waste management market is expected to grow at a high CAGR of 11.9% during the forecast period (2022-2029).
Electronic waste is electronic systems and products that are thrown away, unwanted and not working. Electronic waste contains stereos, televisions, copiers, VCRs, fax machines and computers that require electronic equipment management. Thus, e-waste is hazardous due to the presence of toxic chemicals, different types of complex materials that require proper management. E-waste management includes refurbishment, resale, disposal, reuse, recycling recovery through the recovery of materials, which are considered e-waste especially requiring shredding, metal sorting.
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The market is driven by the growing demand for e-waste management owing to the increase in the sale of electrical and electronic devices globally. According to the International Solid Waste Association report in 2019, e-waste generated about 53.6 million tons globally and is expected to reach about 72 million tons by 2030. This is mainly due to the growing demand advanced electronic and electrical devices. The organization also said e-waste is growing with an estimated 2.01 billion metric tons of solid waste per year. This growth in e-waste amplifies the demand from companies managing electronic and electrical equipment to reduce waste.
There is an increase in the adoption of advanced electronics and electronic devices with increasing government funding and subsidiaries for the implementation of recycling technology to improve environmental sustainability. For example, in 2020, according to the Global E-waste Statistics Partnership (GESP), global e-waste increased by 21% over the forecast period. More and more not
Partnerships and government programs to monitor and manage e-waste have created many opportunities for this market. For example, on July 2, 2020, the International Solid Waste Association (ISWA) collaborated with the United Nations University (UNU) and the International Telecommunication Union (ITU) to launch the SCYCLE program to create the Global E-waste Monitor 2020 to tackle the problem of e-waste. waste challenge.
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Market segmentation :
By type of material
By source type
l Household appliances
l In the trash
The global e-waste management market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the competition in the market. Electronic Recyclers International, Stena Metall AB, Aurubis AG, MRI, MBA Polymers Inc, Waste Management inc., Enviro-Hub Holdings Limited, LifeSpan Technology Recycling Inc, SIMS Metal Management Limited, Boliden AB, Tetronics Limited and Umicore SA are the major players of the market holding a large market share. Companies enter into collaborations, acquisitions, mergers and licenses to increase their market penetration. For example, on June 22, 2017, MBA Polymers was acquired by the Müller-Guttenbrunn Group (MGG) to expand the plastic recycling plant’s product portfolio.
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