Electronic Waste (E-Waste) Management Market is projected to grow at a CAGR 33.45%
Knowledge Sourcing Intelligence announces the publication of a new report on “Electronic Waste (E-Waste) Management Market – Forecasts from 2020 to 2025” to their offering.
The superabundance of consumer electronics, growing industrial digitization, almost ubiquitous adoption IoT, and wireless connectivity and planned to obsolesce are some of the prime factors which are estimated to thrust the market to new heights.
As per the report, the market pertaining to Electronic Waste (E-Waste) Management Market is expected to reach US$20.879 billion by 2025, from US$3.697 billion in 2019.
The e-waste management is expected to witness an exponential growth around the world primality due to due to rapid technological developments, the transition of analog to digital technologies, device substitution, innovations consequently adoption in consumer electronics such as flat-screen TVs, rapid upgrades of cellular and handheld devices are adding to the excessive amount of e-waste that is being produced around the world annually. Further, the average natural life of the majority of the electronic products has have been decreasing rapidly due to the planned obsolescence of electronic products. The increasing capacity to afford a variety of electronics by household in both developing and emerging economies are driving the production of e-waste as players in the electronic industries are coming out with various innovative products to entice the consumers and driving the sales as well as the rate for discarding the old products that are driving the amount of e-waste.
The very name suggests that is different from the municipal waste and constitutes a variety of hazardous materials like dioxins which gest released into the atmosphere upon the burning of PVC cables suggesting that improper disposal has negative externalities for both human beings and the environment. A few of the toxic substances that are found include BFR, flame retardants, lead, mercury, phosphor compounds, and polychlorinated biphenyls (PCBs), among others. This is leading to growing health hazards like bronchitis, kidney damage, and Wilson’s disease resulting from the crude disposal methods strengthening the need for efficient scarp management techniques. E-wastes also comprise materials that have valuable applications if recovered properly like aluminum, copper, gallium, glass, gold, iron, platinum, silver, among others which makes e-waste recycling an economically incentivizing option leading to a conducive environment for the e-waste management market growth.
There are government regulations and multilateral agreements that are responsible for propagating the market for e-waste management solutions. For example, among the developed nations Switzerland, has been reported as the leading country in e-waste collection and disposal and was the first country in the world to institutionalize a formal management system for e-waste. An exemplar and trendsetter the countries e-waste management system is based on the principles of extended producer responsibility (EPR) which is by far reportedly the most feasible means that has been able to strike a balance between the economy and environment of e-waste treatment and disposal.
Moreover, form a multilateral perspective the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal was formulated to prevent e-waste transportation from developed to less developed countries. It essentially an international treaty to minimize the transportation of toxic waste and has been objectively drawn up with to prevent the transfer of from developed to less developed countries. As of November 2016, the European Union and 184 states had become parties to the convention, this convention was also be ratified by China and has banned the import of e-waste since 2000. However, there are certain soft issues such a unauthorize transport of e-wastes to emerging economies and e-waste import by less developed countries. One particular factor and subfactors that are expected to restrain the growth of the market to a certain extent, albeit the profound opportunities which it can potentially tap, is the fact that management of e-waste has emerged as confusing urgency for nations around the world since this kind of waste consists of various substances, both organic and inorganic substances that have the propensity to find its way in the food chain that still leaves an ample room for technological investigation, as well as learning and development for regulators in the developing countries where the e-waste disposal mainly remains unorganized and crude.
As a part of the report, the major players operating in the electronic waste (e-waste) management market, which have been covered are Tetronics, Global Electric Electronic Processing, Enviro-Hub Holdings, Umicore, Boliden Group, MBA Polymers, Aurubis, SIMS Recycling Solutions, and Ecoreco Ltd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/electronic-waste-e-waste-management-market
This report segmented the Electronic Waste (E-Waste) Management Market on the basis following terms
By Material recovery
By Recycler type
- Metal Recycler
- Plastic Recycler
- Glass Recycler
- Printed Circuit Board Recycler
By Source Type
- Communication And Technology
- Consumer Electronics
- By Geography
- United Kingdom
- Middle East and Africa
Leave a ReplyWant to join the discussion?
Feel free to contribute!