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E-Waste Management Market Projected to Reach $114.5 Billion by 2031
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Market Dynamics and Opportunities:
The burgeoning e-waste management market is fueled by the growing need to handle and recycle electronic waste efficiently. Advancements in recycling technologies and proactive government initiatives are set to further propel market growth. However, illegal e-waste dumping and inadequate disposal systems, particularly in ASEAN markets, present significant challenges that could temper market expansion.
Market Segmentation:
By Method: The e-waste management market is segmented into recycling & reuse and disposal/trash methods. In 2024, the recycling & reuse segment is expected to command the largest market share and record the highest CAGR. This dominance is attributed to the increasing recovery of valuable materials such as gold, silver, and copper, as well as the rising need to comply with recycling targets and minimize environmental impact compared to disposal methods like landfilling and incineration.
By Waste Source: The market is divided into household appliances, IT & telecom equipment, consumer electronics (CE), industrial electronics (IE), medical equipment, and other sources. The consumer electronics segment is anticipated to hold the largest market share in 2024 due to frequent upgrades and replacements, increasing regulatory pressures, and growing awareness of environmental impacts. Conversely, the household appliances segment is projected to experience the highest CAGR, driven by rapid urbanization, changing consumer lifestyles, and rising environmental awareness.
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By Material: The market includes metals, plastics & resins, and other materials. The metals segment is expected to dominate in 2024, supported by the high demand for metals in various industries and the need to recover valuable resources from e-waste. The plastic & resins segment, however, is set to achieve the highest CAGR due to advancements in recycling technologies and the push towards reducing plastic waste.
Regional Insights:
Geographically, the e-waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to lead the market in 2024 and register the highest CAGR. This growth is driven by policy implementations aimed at reducing e-waste toxicity, advancements in technology, and increasing consumer electronics usage in the region.
Key Market Players:
Prominent players in the e-waste management market include Electronic Recyclers International, Inc. (ERI) (U.S.), Aurubis AG (Germany), Sims Limited (U.S.), Umicore (Belgium), Mangalam ECS Environment Pvt. Ltd. (India), Boliden Group (Sweden), Tetronics Environmental Technology Company (U.K.), TRIPLE M METAL LP (Canada), Enviro-Hub Holdings Ltd. (Singapore), Stena Metall Group (Sweden), Capital Environment Holdings Limited (Hong Kong), AMP Robotics Corporation (U.S.), Sembcorp Industries Ltd (Singapore), Tes Global Limited (U.K.), and Veolia (France).
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