E-Waste Management Market to Cross USD 153.16 Billion by 2030 owing to Rising Electronic Usage and Stringent Regulatory Frameworks

AUSTIN, TEXAS, UNITED STATES, January 17, 2024 /EINPresswire.com/ -- SNS Insider published an exclusive report, titled, "E-Waste Management Market Size, Share & Segmentation By Processed Material (Metal, Glass, Plastic, And Others), By Source (Household Appliance, Consumer Electronics, Industrial Electronics, And Others), By Application (Disposal And Recycle), By Region And Global Forecast For 2023-2030".

The SNS Insider report indicates that the size for e-waste management market was USD 58.85 billion in 2022, with a projected increase to USD 153.16 billion by 2030. The forecast anticipates a compound annual growth rate (CAGR) of 12.7% during the period from 2023 to 2030.

E-Waste Management Market Scope & Overview

Electronic waste, or e-waste, refers to discarded electronic devices and equipment that have reached the end of their useful life. Effective e-waste management is essential to mitigate environmental and health risks associated with improper disposal. E-waste management involves the collection, recycling, and proper disposal of electronic devices. The rapid technological advancements leading to shorter product lifecycles contribute to the escalating e-waste problem.

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Market Analysis

The e-waste management market is witnessing robust growth driven by several factors. Stringent environmental regulations and policies globally are compelling businesses to adopt sustainable e-waste management practices. Rising awareness among consumers about the environmental impact of electronic waste is driving demand for recycling services. Advancements in technology are creating a surge in electronic device consumption, necessitating effective e-waste management solutions. Government initiatives and collaborations between industry stakeholders are promoting research and development in innovative recycling technologies. Increasing corporate social responsibility and the circular economy concept are influencing companies to invest in comprehensive e-waste management solutions.

Impact of Recession

The ongoing recession has both positive and negative impacts on the e-waste management market. Economic downturns often lead to increased emphasis on cost savings and resource efficiency, driving businesses to adopt sustainable practices, including e-waste management, as a means to streamline operations and cut expenses. Contrarily, financial constraints during a recession may reduce funding for e-waste management initiatives, hindering the development and implementation of sustainable solutions. Balancing economic recovery with environmental sustainability becomes crucial during recessionary periods to ensure continued progress in e-waste management.

Impact of Russia-Ukraine War

The Russia-Ukraine war can influence the e-waste management market, both positively and negatively. The war may stimulate international collaborations and agreements to address common environmental challenges, including e-waste management. Increased global cooperation can lead to shared resources and expertise. Disruptions in the supply chain due to geopolitical tensions may affect the recycling industry, causing delays and shortages in raw materials needed for e-waste processing. Instability can also impact consumer confidence and corporate investments in sustainability initiatives. Strategic planning and resilient policies are crucial to navigating the e-waste management market amid geopolitical uncertainties.

Key Regional Development

Strict environmental regulations and a mature recycling infrastructure drive the e-waste management market. Increasing consumer awareness and corporate sustainability goals contribute to sustained growth. The European Union's stringent e-waste directives and strong emphasis on the circular economy position the region as a leader in e-waste management. Robust recycling systems and public awareness campaigns further bolster market development. Rapid economic growth, coupled with a surge in electronic device consumption, fuels the e-waste management market in the Asia-Pacific region. Governments are implementing policies to address the growing e-waste problem, presenting opportunities for market expansion.

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Key Takeaway from E-Waste Management Market Study

- The metal segment is poised to dominate the market, driven by the abundance of valuable metals in electronic devices. Recycling processes focused on recovering metals such as gold, silver, copper, and aluminum contribute significantly to the market's growth.

- Within the e-waste management market, the industrial electronics segment holds prominence due to the extensive use of electronic equipment in industrial settings. The need for specialized recycling processes tailored to handle complex industrial electronics further amplifies the significance of this segment.

Recent Developments Related to E-Waste Management Market

-Mahindra's subsidiary has recently forged a strategic alliance with the leading e-waste management firm, Attero, marking a significant move towards sustainable and responsible business practices. The collaboration aims to address the pressing issue of electronic waste, combining Mahindra's corporate prowess with Attero's expertise in effective e-waste management solutions.

-Blue Planet Environmental Solutions, a prominent waste management company, has successfully secured a substantial investment of $35 million. This significant funding underscores the growing recognition and support for sustainable waste management practices in the corporate landscape.

Key Players Listed in E-Waste Management market report are:

- RecycleSmart Solutions
- Ecube Labs Co. Ltd.
- Enevo
- IBM
- Veolia
- Tes
- Capital Environment Holdings Limited
- Eniro-Hub Holdings Ltd.
- Tetronics Technologies Limited
- Sembcorp Environmental Management.

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