Global E-waste Management Market to Expand at a CAGR of 6.1% between 2020 and 2028

According to a new market research report published by Brisk Insights, “E-waste Management Market (by Product Type (Computers & IT Equipment, Mobile Devices, Televisions, and Hard-copy Devices), by Vertical (Industrial & Commercial Electronics and Consumer Electronics), by Material (Metal, Plastic, Glass, and Other Materials), by Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2020 -2028”, the global e-waste management market is expected to expand at a CAGR of 6.1% during the forecast from 2020 to 2028.

Market Insight

Over the last few years, there has been an increasing acknowledgment regarding the impact of humans and their evolving lifestyle on the environment, thereby necessitating the need to adopt a sustainable approach with respect to our consumption habits. Improving the standard of living, advancements in technology and evolving digital habits of consumers have shaped our consumption habits with regards to technology-related products, leading to increased e-waste volumes worldwide. The direct impact of e-waste dumping includes the release of toxic compounds including acids, carcinogenic chemicals, heavy metals in soil and thereby leading to the bio-magnification of heavy metals. Thus, the imminent need to control, manage, and recycle e-waste in order to limit health hazards that arise due to scrap landfill and incineration is the major factor driving the growth of the e-waste management market. In addition, stringent regulations pertaining to electronic scrap generation and recycling along with waste management programs and initiatives by the governments worldwide is expected to increase the awareness, leading to better and increased e-waste management during the forecast period from 2020 to 2028. On the contrary, high costs accompanying e-waste management, especially for procuring high-end recycle machinery coupled with technical complexities involved in their operations have somewhat hindered the market growth so far. However, with an increase in awareness regarding the effects of e-waste on the environment and health of people, demand for e-waste management will surge in the coming years.

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The global e-waste management market is highly fragmented and is characterized by the presence of both recycling firms and those involved in electronic scrap treatment. Some of the major vendors profiled in the research report include Electronic Recyclers International, Inc., E-waste Harvesters, Inc., Desco Electronic Recyclers, MRI (Australia) Pty Ltd., Enviro-Hub Holdings Ltd., Umicore S.A., E-waste Systems, Inc., Sims Recycling Ltd., and Waste Management, Inc. among others.