InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global E-Waste Management Market Size, Share & Trends Analysis Report By Recycler Type (Glass Recycler, Metal Recycler, Plastic Recycler, And Printed Circuit Board Recycler), Material Recovery (Metal, Plastic, Glass), And Source Type (Household Appliances, Entertainment & Consumer Electronics, I.T. And Telecommunication)- Market Outlook and Industry Analysis 2031”
The global E-waste management market is estimated to reach over USD 216.01 billion by 2031, exhibiting a CAGR of 15.21% during the forecast period.
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The growing middle-income population in developing nations, combined with altering consumer preferences, is causing the rapid replacement of older versions of electronic products with newer versions. As a result, sales of electronic devices are increasing. Furthermore, electronic device makers use sustainable disposal strategies, such as take-back policies, to handle electronic devices at the end of their life cycle. Such factors are expected to benefit the market during the forecast period. Additionally, several legislation and policies are being implemented by governments around the world to efficiently manage e-waste. In India, for example, the Ministry of Environment, Forests, and Climate Change has made it mandatory for electronic equipment manufacturers to recycle and reduce e-waste in the country. Several other measures, such as the use of renewable resources, industrial process improvements, and green packaging choices, are also being implemented to reduce e-waste output.
List of Prominent Players in the E-Waste Management Market:
Market Dynamics:
Drivers-
Numerous guidelines and policies are being implemented by governments all over the world to handle e-waste efficiently. In India, for example, the Ministry of Environment, Forests, and Climate Change has mandated that producers of electronic equipment be held accountable for recycling and reducing the amount of e-waste in the country. To limit the amount of e-waste, several other measures are being used, such as changes to the manufacturing process, renewable resources, and eco-friendly packaging options. These rules promote an environment in which e-waste recycling is practicable. As a result, rising government regulations and policies to manage e-waste are likely to boost market expansion.
Challenges:
The lifespan of electronic devices is increasing shorter by the day, which aids in the production of low-cost and easily available products. Consumers prefer to acquire new devices rather than repair old ones because they are significantly less expensive. Furthermore, the environment is getting increasingly toxic as a result of landfills, mercury and lead seepage, and the loss of resources such as gold, copper, platinum, lithium, and silver, which are required to produce circuits and parts. Excessive waste could lead to a scarcity of resources. These metals can and should be recycled, but a lack of innovation in recycling processes is hampering recovery. Many of the factors listed above are impeding market expansion over the predicted period.
Regional Trends:
Asia Pacific E-waste management market is expected to register a major market share in terms of revenue and is projected to grow at a high CAGR in the near future. China is a major producer and consumer of electrical and electronic equipment. It generates the most e-waste in the Asia Pacific region. Growing government initiatives and active engagement in e-waste collection and recycling activities are also expected to drive the regional market. Moreover, Europe is a crucial region. Numerous government attempts to implement greener and more sustainable solutions, as well as lessen the negative impact of e-waste generation, are expected to enhance growth. For example, the European Commission launched a new circular economy action plan aimed at reducing electronic and electrical waste in 2020.
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Recent Developments:
Segmentation of E-Waste Management Market-
By Recycler Type-
By Material Recovery-
By Source Type-
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
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