The global E-waste market is expected to witness exponential growth during the forecast period. Fast technology development and substitution of apparatus coupled with the relocation from analog to digital technology is expected to fuel the worldwide industry. Novel innovations in equipment such as a bulge from curved to flat screen monitors are also expected to drive the industry. However, the economies of scale have certain customer compensation in terms of costs, which has amplified the requirement of many electronic goods such as mobile phones. It has also augmented the amount of e-waste.
The average natural life of most electronic products has continuously been reducing. Rapid obsolescence of electronic products has turn out to be one of the key factors directing the production of electronic waste. The electronic products which have arrived at their end-of-life for the consumer are called e-waste. Electronic waste or E-waste is waste material formed by rejected electronic equipment & components as well as matter implicated in their manufacturing or utilization. Though electronic waste is a general term, it covers up computers, televisions, fridges, washing machines, digital cameras, home entertainment systems, toasters, tablets, kettles, dryers, stereo systems, toys, and almost any business or the household item which contains electrical circuits and components like a battery.
E-waste is growing exponentially since the manufacture of electronic goods is increasing rapidly in various parts of the world owing to the preference of people in the direction of technology and electronic products. It is dissimilar from municipal waste as it comprises of various dangerous metals. It also includes various valuable and precious metals. Several e-waste materials are very hazardous to the environment and human beings, if not predisposed appropriately. For instance, polyvinyl chloride cable which is utilized for cables and connectors are very damaging, as they discharge dioxins on burning. These dioxins have consequences unconstructive immune and reproductive systems of human beings. Increasing E-waste market penetration in developed and emerging economies, and a high undesirability rate creates e-waste one of the greatest waste streams. It can be utilized as a source that comprises the useful material for cost-effective benefits in a recovery of iron, plastic, glass, copper, aluminum, and other valuable metals, However, many components contain toxic substances which unfavorably affect the environment and human health, increasing water, land and air pollution. A few toxic chemicals widely utilized are lead, mercury, BFR, phosphor compounds, polychlorinated biphenyls (PCBs), and flame retardants.
The growing amount of electronic waste each year will offer a great opportunity for the electronic waste management industry. Moreover, the inappropriate e-waste management system in various parts of the world is expected to hamper the growth of the global electronic waste management industry over the forecast period. The e-waste management industry has the perspective to recover and recycle materials. These reasons are expected to drive the e-waste management industry over the forecast period. The expansion of the industry is enhanced owing to the rising need for advancement in the latest technologies. A need towards the adoption of new technically advanced equipment directs to produce millions of tons of E-Waste around various regions which will propel growth
By region, the e-waste market can be segregated into Asia Pacific, North America, Europe, and the rest of the world. North America is projected to capture the largest revenue over the forecast period owing to the increased consumption of electronic devices in this part of the world coupled with their short life. Asia Pacific is expected to grow rapidly over the forecast period owing to increasing consumer electronics products coupled with stringent government policies for ecological balance and policies for reducing the pollution due to electronic waste. Europe is expected to be second in revenue generation over the forecast period.
By source, the e-waste market can be segregated into IT & telecommunication, consumer electronics, household appliances, industrial electronic products, and others. By raw materials, used in making electronic devices, the market can be segregated into glass, plastic, metal, fibers, and others. The metal section is expected to generate maximum revenue over the forecast period owing to the extensive use of devices made from metal. All the other section is scheduled to grow evenly over the forecast period due to the increasing quantity of electronic waste.
Prominent players in the e-waste market are Aurubis AG, Stena Metall AB, Electronics Limited, MBA Polymers Incorporation, Enviro-Hub Holdings Limited, Umicore, SIMS Recycling Solutions, Electronic Recyclers International Incorporation, LifeSpan Technology Recycling Incorporation,
CRT Recycling Incorporation, Metal LP, Triple M, Global Electric Electronic Processing Inc, Boliden AB, Stena Technoworld AB, and MBA Polymers, Inc are other players and the market expected to be competitive over the forecast period owing to the upcoming latest innovation in the electronic waste market over the forecast period.
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