E-waste Disposal Market Size, Share, Growth, And Industry Analysis, By Type (Home Appliances and ICT Equipment), By Application (Components Recycling and Material Recycling), Regional Forecast By 2032

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E-waste Disposal Market Report Overview

The global e-waste disposal market size was USD 11.47 billion in 2023 & the market is expected to reach USD 26.24 billion by 2032, exhibiting a CAGR of 9.63% during the forecast period. Veolia, URT, Kuusakoski, Electronic Recyclers International and IRT are top companies operating in the e-waste disposal market.

 The global COVID-19 pandemic has been unprecedented and staggering, with the e-waste disposal market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Any abandoned electrical or electronic device is referred to as "e-waste." Included in this are both functional and damaged things that are discarded in the trash or given to a Goodwill or similar non-profit retailer. When an item in the store is not purchased, it is frequently thrown away. The poisonous compounds in e-waste naturally leach off the metals when it is buried, making it particularly hazardous. It is not a recent problem to figure out the best way to get rid of old and unused devices; this problem has existed at least since the 1970s. However, a lot has evolved since then, most notably the volume of devices thrown away today.

Increased environmental consciousness, a rise in the requirement for recycled content, and strict government rules on e-waste disposal are all factors that have contributed to the market's expansion. By kind, application, and region, the market for disposal of e-waste is divided. ICT equipment, home appliances, and other sorts are separated from one another in the market based on type. The category for ICT equipment is predicted to expand at the highest CAGR during the projected time frame.

COVID-19 Impact: Implementation of Work-from-Home Policies Created Opportunities for the Market’s Overall Growth

The projection for 2031 is expected to be greater than pre-COVID-19 projections. In terms of financial impact, the market has seen a positive growth trend. The implementation of work-from-home policies has expanded the market for mobile computing devices and decreased utilisation of stationary desktop and devices. As a result, businesses have been concentrating on recycling these systems in order to cut operational costs, which has created a significant opportunity for the market's overall growth. Many businesses have made active investments in e-waste disposals in response to this expanding possibility.

Latest Trends

"Redesigning Items to be Sustainable and Raising Awareness among Consumers to Reduce E-waste Creation"

Design has emerged as the crucial element in the transition toward a more sustainable society for EEE and to effectively address the detrimental effects of E-waste. Redesigning items and implementing clever end-of-life options are all part of design for sustainability, which also emphasises raising consumer and manufacturer awareness and changing linear behaviour into circular behaviour. This strategy necessitates a stronger emphasis on circular design, in-build sustainability, and consequently, a stronger focus on reducing E-waste creation. Designers and producers are emphasising the development of durable, waste-free, and environmentally regenerative goods and materials.

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E-waste Disposal Market Segmentation

• By Type Analysis

According to type, the market can be segmented into Home Appliances and ICT Equipment

• By Application Analysis

Based on application, the market can be divided into Components Recycling and Material Recycling.

 Driving Factors

"Growing Number of Electronic Devices per Household is Tremendously Expanding the E-waste Sector"

The average American family now possesses up to 24 electronic devices, as per additional knowledge from the Consumer Technology Association, which shows that consumers are purchasing more electronic products than ever before. As electrical technology advances, older devices get progressively less useful. Consequently, it is anticipated that the market for e-waste disposal will expand due to the rising number of electronic gadgets.

"Regulatory Rules by Governments to Avoid Damage to Health help the Disposal Industry to Grow"

Manufacturers are subject to severe regulatory rules from governments around the world regarding the disposal of e-waste. The proliferation of e-waste frequently endangers human health. An increase in disorders related to respiratory ailments and the physical toll has been observed in facilities that run irregularly disposed e-waste. Televisions, refrigerators, laptops, and gaming equipment are just a few instances of the devices that might produce e-waste. The importance of preventing these used items from ending up in landfills and adding to waste streams is being recognised by many states. Instead, they are searching for methods of recycling. The e-waste disposal market growth is then anticipated to develop as a result.

Restraining Factors

"Exposure of Poisonous Compounds to Employees Result in Health Related Problems  "

Electronic waste can be harmful, is not biodegradable, and builds up in the earth, air, water, and other living things. As an illustration, the atmosphere is polluted by poisonous compounds that are released during open-air burning and acid baths used to recover precious materials from electronic components. In addition, these practices expose employees to high concentrations of pollutants like polychlorinated biphenyls (PCBs), brominated flame retardants (BFRs), mercury, lead, beryllium, thallium, and arsenic. These pollutants have been linked to unrecoverable health consequences such as cancer, spontaneous abortions, neurodegenerative disorders, and lower IQs.

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E-waste Disposal Market Regional Insights

"Asia Pacific to Lead the Regional Market due to Boosted Revenue of Electronic Devices and New Product Developments in the Region"

Over the length of the forecast, the Asia Pacific region would dominate the e-waste disposal market share. Increased per capita income in a number of nations, boosted revenues of electronic devices such as computers, fridges, and cellular phones, increased sales of electrical and electronic devices, reluctance to repair defective devices, the export of e-waste from advanced nations to developing nations such as India, Pakistan, and  China rising environmental concerns, and new product developments for ongoing innovations and constant falls in prices of electronic goods are just a few of the factors contributing to this trend.

Even though the US now exports the most e-waste globally, efforts are being made to expand domestic recycling programmes. The National Center for Electronics Recycling is a US-based company dedicated to expanding the domestic market for e-waste disposal. A significant amount of the US's e-waste was exported in 2010, but as the country develops its local recycling industry, this is projected to change. Implementation of domestic e-waste green initiatives will lessen exports to developing countries and the negative effects on the environment and public health caused by disposal in those countries.

Key Industry Players

"Introduction of Growth Strategies by the Key Players to get an Advantage Over Competitors"

The existence of several notable industry players, a majority of whom have succeeded over time by offering consistent results, makes the worldwide e-waste disposal sector extremely competitive. These players are anticipated to hold a sizable part of the market in the coming years. Leading providers of e-waste and reuse services may benefit from growth strategies including the introduction of unique services since they will open up new potential for revenue generation and give them an advantage over rival providers. In an effort to boost their market presence and revenue shares, well-established market companies may form cooperative agreements with smaller competitors.

LIST OF TOP E-WASTE DISPOSAL COMPANIES

• Veolia (France)
• URT (U.S.)
• Kuusakoski (U.S.)
• Electronic Recyclers International (U.S.)
• IRT (U.S.)
• GEEP (India)
• Sage (U.K.)
• Stena Metall Group (U.S.)
• Dongjiang (China)
• E-Parisaraa (India)
• Dynamic Recycling (U.S.)
• Enviro-Hub Holdings (Singapore)
• Gem (India)

Report Coverage

This report covers the e-waste disposal market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.