Global E-Waste Management Market Will Reach $11B by 2024

Estimated reading time: 4 minutes

The global e-waste management market was valued at approximately $3.0 billion in 2017 and is expected to generate revenue of around $11.0 billion by the end of 2024, growing at a CAGR of around 20.2% between 2018 and 2024.

The rapid technological advancement and continuous innovation in the product have led to an upsurge in the sales of electronic devices and products across the world. Particularly computer devices, mobile devices, and television are experiencing the highest growth rate which is expected to drive the e-waste management market growth over the forecast period. Moreover, due to rising purchasing power and growing trend of disposable income of people, the sales of the electronic devices are growing significantly. New product launches with advanced features and additional services attract the consumers to upgrade old products with the new ones. This has been decreasing the lifespan of electronic devices to around 3-4 years. Accordingly, this is also generating e-waste at a tremendous rate. The ongoing sales of electronics products mainly in the developing countries anticipate offering growth opportunities for e-waste management in the future years. Such factors are expected to drive the e-waste management market growth over the forecast period.

Disposal of the e-waste is the problem faced by most of the regions. Computer wastes are landfilled and may produce contaminated leachates that could pollute the groundwater. Acids and sludge are produced due to the melting of computer chips; when disposed on the ground may give rise to the acidification of the soil. It is projected that around 75% of electronic items are stored due to the uncertainty of management. These electronic junks are left unattended in warehouses, houses, offices, etc. and usually get mixed with the household wastes that are disposed of at landfills. Thus, demand for the proper e-waste management is growing at a high scale. The International Association of Electronics Recyclers (IAER), estimated that 3 billion electrical and electronic appliances could become e-waste. Globally, around 20-50 MT of e-waste is disposed of every year, which accounts for 5% of all municipal solid waste.  

The e-waste management market is segmented on the basis of material recovery into PCBs, plastic, ceramics, metals, glass, wood, and others. Metal segment held major revenue share in 2017. The growth is attributed to the metals that are mostly used in every component, printed circuit boards (PCBs), and microcontrollers. Electrical and electronic products consist of components that use conductive metals, metal tracks, and solders. 

Based on source type, the e-waste management market has been segmented as household appliances, entertainment and consumer electronics, IT & telecommunications, and others. Consumer electronics is expected to contribute for significant revenue share in 2017. The increasing acceptance of consumer electronics in the commercial and residential sectors is the major driving factor which will increase demand for the product.

Europe held a substantial revenue share in 2017 in the global e-waste management market. Waste electrical and electronic equipment (WEEE) which includes TV-sets, computers, cell phones, and fridges is the highest growing waste streams in the Europe region and it is anticipated to exceed over 12 million tons in 2020. WEEE may cause environmental and health problem as it is a mixture of materials and components due to hazardous content. Moreover, electronic waste directives European Union adopted to regulate e-waste disposal is expected to further drive industry growth in the region.

Asia Pacific e-waste management market is projected to grow at the highest growth rate over the forecast timeframe. Increased demand for electronic equipment and rapid growth in the electronics industry has led to the production of large amount of electronic waste in the region. Moreover, governments are taking initiatives for disposing of e-waste in emerging countries such as China and India to recycle and extract metals which can be a major threat to the environment and human health. Such factors are expected to drive the e-waste management market growth over the forecast period.

Latin America e-waste management market accounted for the significant growth rate during the forecast timeframe. The growth is attributed due to lifestyle-related change coupled with the adoption of the modern lifestyle in the region. Moreover, recycle and separation of e-waste has become the main source of income for numerous people in the region. Such factors are expected to drive industry growth in the Latin America over the forecast period.

About Us

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.