Press release
Growing with 15.7% of CAGR The Global E-Waste Management Market Reach USD 244.6 Billion by 2032
Reduction in life span of electronic devices and scarcity of sources of precious metals are driving the growth of the market. E-waste initiatives by electronic manufacturers across the globe are expected to provide major growth opportunities for the e-waste management market during forecast period.
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The global e-waste management market size was valued at USD 57.8 billion in 2022, and is projected to reach USD 244.6 billion by 2032, growing at a CAGR of 15.7% from 2023 to 2032.
The e-waste management market is segmented on the basis of material, source type, application, and region. In terms of material, the market is divided into metal, plastic, glass and others. By source type, the market is divided into household appliances, industrial electronics, and consumer electronics. Based on application, it is bifurcated into trashed and recycled. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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● Recent Partnerships
In April 2022, Call2Recycle Inc. partnered with Cell Block FCS and ERI and launched One Drum, the first mixed consumer battery collection product in the market. One Drum solution allows customers to place and transport large volumes of consumer single-use and rechargeable batteries in one convenient container eliminating the need to sort by chemistry or individually bag or tape battery terminals.
In December 2020, MG Motor India partnered with TES for recycling batteries of its electric vehicle, ZS EV. The partnership ensures environmentally-sustainable and secure recycling of ZS EV batteries.
● Recent Acqusition
In January 2020, Sembcorp Industries, through its wholly-owned subsidiary SembWaste, acquired Veolia ES Singapore (VESS) and public cleaning business of Veolia ES Singapore Industrial. The acquisition is expected to enhance e-waste management capabilities of the Sembcorp Industries.
● Recent Investment
TES announced investment in Green Li-ion, a start-up technology innovator based in Singapore focused on creating sustainable models for battery recycling. This investment is aimed at extending Green Li-ion's proprietary battery recycling technology to TES's suite of battery recycling solutions.
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On the basis of application, the trashed segment held the largest market share of the e-waste management market in 2022. This is attributed to the e-waste being disposed-off in the form of trash due to the absence of efficient recycling and recovery technology and the unlawful transfer of hazardous e-waste to developing countries. However, the recycled segment is expected to grow in the future at a CAGR of 17.8% from 2022 to 2032, as the popularity and demand for refurbished products is growing at an increasing rate.
On the basis of source type, the home appliances segment held the largest market share of the e-waste management market in 2022. This is attributed to increase in per capita income, technical advancements, and global population growth. However, the consumer electronics segment is expected to grow in the future at a CAGR of 17.8% from 2022 to 2032, as the production of consumer electronics is happening at a large scale.
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On the basis of region, Asia-Pacific dominated the e-waste management market in the year 2022. This is due to the new product development, price reductions and increasing per capita income. The region is expected to dominate the market as it is growing at a CAGR of 17.8% from 2022 to 2032.
The major key players operating in the e-waste management market such as Eniro-Hub Holdings Ltd., TES, Capital Environment Holdings Limited, Tetronics Technologies Limited, ERI, WM Intellectual Property Holdings L.L.C., Sembcorp Industries (Temasek Holdings), Veolia, MRI Technolgies, and Umicore.
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