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Global E-waste Management Market Size to grow by US$ 147.11 Bn in 2030

Global E-waste Management Market Size is expected to be worth USD 52.13 Billion in 2021 and is estimated to reach up to USD 147.11 Billion by 2030, at a compound annual growth rate (CAGR) of 14.50% from 2022 to 2030.


E-waste Management Market

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The term "e-Waste" is frequently used to refer to abandoned electrical or electronic equipment, which can be disposed of or recovered, reused, and put on the market through material recovery. This waste comprises computers, televisions, refrigerators, air conditioners, and other contemporary electrical devices that contain hazardous substances like brominated flame retardants, heavy metals like lead, mercury, cadmium, and beryllium, as well as other compounds. The UN research estimates that 50 million tons of e-waste was produced in 2018. Another name for e-waste is urban mining. It is the process of removing components from electronic waste for recycling or resale. Moreover, the rise in disposable income makes it simple to purchase new, cutting-edge gadgets. The industry is being driven by the desire among the younger population to frequently replace outdated equipment with newer models of laptops, cellphones, and other gadgets. The business is also being helped by strict regulations set by some organizations regulating the disposal of e-waste.


Many businesses have been actively investing in e-waste management due to this expanding possibility. For instance, Petonic Infotech revealed in January 2021 that it had invested half a million dollars in Prometheus e-waste Recycling. Petonic Infotech hopes to assist Prometheus e-waste in spreading sustainable e-waste management throughout India with this funding. Additionally, the financing will assist Prometheus e-Waste in bringing a simple, secure, and effective solution to the e-waste issue in India.


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The demand for effective scrap management strategies is increasing due to the increased risk of health problems like kidney damage, bronchitis, and Wilson's disease caused by the improper disposal of harmful elements from electronic scrap and combustion. Additionally, the availability of valuable metals like platinum, gold, silver, and gallium makes recycling electronic scrap an appealing and practical choice. These elements have the potential to stimulate market expansion.

With fast-rising product innovation, notably in household electronics and appliances like the switch from analog to digital technologies, monitors, and flat-screen televisions, the e-waste management market is predicted to experience revenue growth. In the next four years, managing e-waste is expected to increase by over 33%, according to the UN.


The North America region is expected to dominate the market share owing to the strict regulations implemented by the Environmental Protection Agency in this region. Additionally, the region's numerous countries' rising per capita incomes have encouraged consumers to frequently upgrade their electronics product purchases. In the past ten years, sales of electronic products including refrigerators, computers, and mobile phones have increased, contributing to an increase in the amount of e-waste generated in the region.


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The Asia Pacific region is expected to witness the highest growth rate during the forecast period of the market due to the ongoing innovation and the drop in the price of electronic items. This has had a significant impact on the real-life span of electronic items like computers and smartphones.


KEY INDUSTRY DEVELOPMENTS:


July 2018- Boliden invested more than 72 million in metal leaching units to recycle e-waste. This will improve the ability of leftover material to recover metals.


July 2016- Electronic Recyclers International began offering electronics recycling in Indiana in response to the widespread illegal and unethical export of e-waste by many businesses.


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