E-waste or electronic waste management is the recycling of electronics and recovering or precious materials. The disposal of electronic waste can pose serious environmental threats and can cause many environmental issues.
What is the market size of e-waste management industry?
Critical Markets
The global market for e-waste management is expected to reach US$ 40 billion by 2025 from around US$ 25 billion in 2018.
The global market for e-waste management will grow at a significant rate in the coming years due to the increased use of electronic devices and the strict regulatory policies regarding waste management.
E-waste management is a method that uses different handling techniques to monitor the effects of electronic waste produced from different sources. The e-waste market has been on the rise due to the growing number of smart household appliances and electronic equipment.
The shorter life span of electrical, mechanical and electronic devices also produces large electrical waste. The tendency to adopt new advanced technological devices leads to millions of tonnes e-waste being generated.
E-waste is considered quite dangerous because of its extreme consequences for environmental and health hazards. The release of toxic chemicals into the atmosphere has increased concerns for health and thus requires successful e-waste management techniques.
The governments’ funding for small waste collection centres and large e-waste recycling will underpin the market growth. Major companies such as Fuji Xerox and Panasonic has started various initiatives about managing electronic waste. Dell also started using recycled plastics in its desktops and monitors.
However, the high e-waste management costs and insufficient waste collection capacity can hinder the market growth. Moreover, the lack of awareness of e-waste management activities in undeveloped markets is currently an issue.
MetalFasts
Around 50 million metric tonnes of e-waste was generated in 2018, which is expected to reach approximately 60 million metric tonnes by 2025. Nearly 20% of e-waste is properly documented and recycled while the status of the remaining 80% e-waste is uncertain.
This means that in many countries, there are no appropriate disposables or recycling schemes. The developed countries export e-waste for recycling to developing countries as the cost is comparatively lower. This raises the e-waste burden on emerging markets.
Electronic scrap generation and its treatment processes have been regulated in most countries around the world. The European Union (EU) has allowed all producers of electronic goods to be responsible for end-of-life care treatments.
Some of these requirements include the Restriction of Hazardous Substances Directive (RoHS), the Basel Convention, and the Waste Electrical and Electronic Equipment Directive (WEEE). Waste management policies and schemes increase jobs, transfer technological knowledge, helping to alleviate poverty and reduce health hazard.
Other main drivers behind the growth of e-waste management are the growing use of smart technology, the choice for green packaging, use of renewables and materials, modification of production processes, growth in emerging markets, and higher rates of replacement of advanced electronic products.
Nonetheless, e-waste disposal costs would likely restrain the market growth. Moreover, the high cost of recovering the materials remains the major obstacles for growth in e-waste management.