E-waste Management Market Size, Share & Industry Analysis, By Category (Temperature Exchange Equipment, Screens and Monitors, Lamps, Large Equipment, Small Equipment, and Small IT and Telecommunication Equipment), By Type (Recycled and Unrecycled), and Regional Forecast, 2024-2032

The global e-waste management market size was 52.44 million tons in 2023 and is projected to grow from 54.64 million tons in 2024 to 69.68 million tons by 2032, exhibiting a CAGR of 3.3% during the forecast period. Asia Pacific dominated the e-waste management market with a market share of 44.6% in 2023. Moreover, the e-waste management market in the U.S. is projected to grow significantly, reaching an estimated value of  10.19 Million Tons by 2032, driven by the increasing awareness regarding E-waste disposal.

According to the United Nations (UN), e-waste is any waste product with a battery or plug. It contains toxic and dangerous substances, such as mercury, that pose severe risks to human and environmental health. E-waste, e-scrap, electronic waste, and end-of-life electronics are terms frequently used to label used electronics that are approaching the end of their life. They are donated, discarded, or recycled.

According to the UN, in 2021, each person on the planet was estimated to produce an average of 7.6 kg of e-waste, which means that 57.4 million tons of e-waste will be generated worldwide. This development has given rise to e-waste management activities and initiatives.

The COVID-19 pandemic affected social lives in multiple ways and highlighted the interrelations between the environmental and communal systems of the world. The measures were taken to control the spread of the virus across society, including lockdowns and halt in manufacturing and trade activities, which led to a decline in economic growth, limitations on mobility, and additional need for digitization and quarantine in homes. It was expected that digitization and an increase in time spent at home would increase the consumption of electrical and electronic equipment as a result of switching of firms and businesses to home offices, providing the staff with laptops and other office gear for home use, and a simultaneous increase in disposal of such gear and gadgets, partly as a result of house-cleaning during the first lockdowns in 2020. However, statistics exhibited a surprising development from a global perspective.

Lower consumption of electrical and electronic equipment in the first three quarters of 2020 led to a decrease in waste generation of electronic and electrical equipment due to the COVID-19 pandemic, particularly in the first and second quarters of 2020. The reductions were 30% in low-income and middle-income countries, whereas it was a mere 5% in high-income countries. The population in low and middle-income countries is continuously growing the gap in access to modern communication technologies and other electronics, causing the digital divide. This inequality is causing a large social side-effect globally.

E-waste Management Market Trends

Adoption of Circular Economy to Boost Market Growth

Looking at the current scenario for the production and consumption of electronic and electrical goods, a new strategy is essential. E-waste is generally considered a post-consumer problem, but the issue encompasses the lifecycle of the product irrelevant to the user. Designers, investors, traders, manufacturers, miners, consumers, raw material producers, policy-makers, and others can play a crucial role in reducing waste, retaining its value within the system, and further extending the economic and physical life of the electronic item. It also influences the ability of the product to be restored, recycled, and reused.

Keep products in use for as long as possible and then recycle materials that go into them to minimize or even eliminate waste. Digital sustainability means adopting technology that has environmental, societal, and financial benefits. Circularity is making this improved technology possible.

Technological advancements, such as the Internet of Things (IoT) and cloud computing, can potentially dematerialize the electronics industry. Moreover, the rise of various facility business models and improved product tracking and return led to global circular value chains.

A circular economy approach favors closed-loop arrangements in which resources are carefully engaged to generate pioneering products. These products can be used for a longer period by sharing, reusing, restoring, and reprocessing. A longer period and clever design indicate greater productivity. Hence, the circular economy approach is expected to be the spine of future sustainable economies.

Various tech firms have stepped up to be part of the solution for the e-waste issue. For instance, HP designs its products to be tough and easily repairable so they can stay in use for a longer time. In contrast, its service-based products and solutions lessen environmental impacts through extended life, device optimization, and product take-back. HP’s repair, reuse, and recycling services also support recovering products, components, and materials for the next generation of products.

E-waste Management Market Growth Factors

Stringent Guidelines Regarding E-waste Management and Disposal to Augment Growth

Electronic equipment and technologies are continuously advancing and growing in number. These technologies have become a critical part of our lifestyle and our emerging economy. However, with technological advancement comes the growing challenge of guarding human health and the environment from the potentially damaging effects connected with improper handling and disposal of waste.

Government and various government-affiliated organizations have issued certain stringent rules and guidelines for properly collecting and disposing of e-waste. For instance, the Indian government drafted e-waste management rules in 2016, which are applicable to every manufacturer, producer, bulk consumer, consumer, collection center, e-retailer, dealer, refurbisher, dismantler, and recycler involved in the manufacture, sale, purchase, transfer, storage, collection, and processing of e-waste or electrical and electronic equipment. The rule specifies the responsibility of each component of the product's lifecycle, including manufacturer, producer, collection center, dealers, consumer, dismantler, and recycler.

Additionally, according to the Environmental Protection Agency (EPA), a long-term ecological method for electronics stewardship is essential at work and at home. Considering the prevalence of electronics, the federal government is dedicated to being an accountable consumer of electronics and a front-runner in electronics stewardship in the U.S. The EPA participated in the presentation of the UNIDO-GEF venture for “Strengthening of National Initiatives and Enhancement of Regional Cooperation or the Environmentally Sound Management of POPs in Waste of Electronic of Electrical Equipment (WEEE).” With support from the EPA, Step developed a tool that will enhance the capability of participating countries to evaluate the quantity of e-waste generated, imported, and exported.

RESTRAINING FACTORS

Lack of Awareness Regarding Proper Disposal of E-waste to Limit Market Growth

E-waste disposal is a crucial environmental issue the world is facing currently. Lack of knowledge regarding the proper disposal of e-waste that may contain hazardous elements may end up in landfills. This factor further leads to the leakage of heavy, toxic, and hazardous metals, including mercury, Lead, arsenic, and cadmium, into the soil.

These toxic materials become a serious issue when they seep into groundwater systems causing groundwater pollution. Besides, laborers at landfills can be exposed to these harmful contaminants leaking from e-waste. E-waste products include computers, television sets, cell phones, printers, scanners, and fax machines.

However, increasing government initiatives that create consumer awareness regarding reusing and refurbishing electrical and electronics materials are expected to provide a positive outlook for e-waste management.

E-waste Management Market Segmentation Analysis

By Category Analysis

Rapid Increase in Demand to Cater to Small Equipment Segment Growth

In terms of category, the market is segmented into temperature exchange equipment, screens and monitors, lamps, large equipment, small equipment, and small IT and telecommunication equipment.

The majority of the market share was accounted for by small equipment, followed by large equipment, temperature exchange equipment, screens and monitors, small IT and telecommunication equipment, and the lamps segment, which represented the smallest share. The small equipment segment consists of vacuum cleaners, ventilation equipment, microwaves, electric shavers, trimmers, calculators, radio, cameras, and others. Growing inclination toward technology and advanced electronics is fostering the demand for small equipment. However, the temperature exchange equipment segment is expected to be the fastest-growing segment.

By Type Analysis

Unrecycled Segment to Dominate Owing to Lack of Consumer Awareness of the Negative Environmental Impact of E-waste

In terms of type, the market is segmented into recycled and unrecycled.

The unrecycled segment is expected to hold a major share of the market, owing to the lack of awareness regarding the detrimental effects of e-waste on the environment. Moreover, the lack of availability of data regarding properly collected and recycled e-waste indicates the management of e-waste outside the authorized collection system.

REGIONAL INSIGHTS

The market size in Asia Pacific was 23.39 million tons in 2023 and registered a favorable growth rate during the forecast period. China is the hub for electrical and electronic equipment manufacturing and consumption. It produces the highest amount of e-waste in Asia Pacific. Additionally, growing government initiatives and active participation in e-waste collection and recycling activities are likely to drive the regional market.

Europe is one of the key regions in terms of e-waste recycling and reusing. Various government initiatives to practice greener and more sustainable solutions and reduce the adverse impact of e-waste generation are likely to boost growth. For instance, in 2020, the European Commission launched a new circular economy action plan involving reducing electronic and electrical waste.

North America has stringent regulations and policies for e-waste collection and disposal. In the state of Victoria, it is illegal for e-waste to enter landfills as it contains hazardous substances and must be separated from other waste. The EPA imposes the Victorian Government’s e-waste policy in the state. The presence of major recycling and reprocessing firms in the region is expected to fuel the e-waste management industry growth.

Latin America is expected to grow considerably, owing to the adoption of the latest technologies. This is expected to increase the demand for electronics, further driving the e-waste generation rate. The Middle East and Africa are expected to create opportunities for e-waste recycling, owing to their ability to feed the domestic industries' income through precious metal recovery.

List of Key Companies E-waste Management Market

Government Initiatives to Improve the Business

The e-waste management market share is fairly consolidated and competitive, with the presence of regional and international companies. Some of the key players operating in the e-waste management industry are Capital Environment Holdings Limited, ERI, Enviro-Hub Holdings Ltd., Tes, Boliden AB, and Umicore, which accounted for a major market share in 2023.

 LIST OF KEY COMPANIES PROFILED:

• Capital Environment Holdings Limited (Hong Kong)


• Eri (U.S.)


• Enviro-Hub Holdings Ltd. (Singapore)


• Sembcorp Environmental Management (Singapore)


• Tes (Japan)


• Tetronics Technologies Limited (U.K.)


• Umicore Ag & Co. Kg (Germany)


• Veolia (France)


• WM Intellectual Property Holdings, L.L.C. (U.S.)


• Sims Lifecycle Services, Inc. (U.S.)


• Boliden AB (Sweden)

KEY INDUSTRY DEVELOPMENTS:

• July 2023 – ERI announced providing responsible IT asset disposition and e-waste recycling services to support businesses in achieving their ESG and circular economy objectives.


• July 2022 – ERI, one of the leading recyclers of electronics and cybersecurity intensive hardware destruction companies, and Redrock Environmental Group teamed with the County of Madera. This collaboration is planned to provide the residents of Madera County with an appropriate way to recycle undesirable consumer electronics correctly.


• April 2022 – ERI, one of the e-waste management players, partnered with Call2Recycle and CellBlock FCS for an Innovative Battery Collection Solution, OneDrum. OneDrum permits customers to place and transport huge volumes of consumer single-use and rechargeable batteries in one suitable container, eliminating the necessity to categorize it by chemistry or separately bag the battery terminals.


• February 2022 - TES, an e-waste and IT Asset Disposal (ITAD) firm, and SK Eco Plant, a South Korean construction firm, signed an acquisition agreement. SK Eco Plant acquired TES's 100% share for around USD 1 billion.


• September 2019 - Sims Limited, the parent company of Sims Lifecycle Services, traded its European trade operations concerned with the recycling of e-scrap controlled by the extended producer responsibility programs.


• November 2018 - Tetronics International, one of the electronic waste processors supported by funding from Innovate UK, a government investment agency, developed a potential solution to retrieve valuable materials from the waste electrical and electronic equipment. The new clean plasma technology converts old electronic devices into value by retrieving precious metals, including gold, silver, copper, and tin, and simultaneously removing hazardous materials.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on crucial aspects, such as leading companies, products, and products. Also, it offers insights into market trends and highlights vital industry developments. In addition to the abovementioned factors, the report encompasses various factors contributing to the market's growth in recent years. It includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the e-waste management industry's latest market dynamics and opportunities.

Report Scope & Segmentation