E-Waste Management Market Forecast and Opportunity Assessment by Future Market Insights
The growing market penetration in developing countries, replacement market in developed countries and a high undesirability rate make e-waste one of the fastest waste streams. This form of waste is posing a serious concern in disposal and recycling to both developing and developed countries. E-waste can be used as a resource that contains useful material for economic benefit in recovery of plastic, iron, glass, aluminium, copper and other precious metals such as silver, gold, platinum and palladium, and lead, cadmium, mercury etc. However, some components contain toxic substances which adversely affect human health and environment, increasing land, air and water pollution. Few toxic chemicals widely used are lead, cadmium, mercury, beryllium, BFR, polyvinyl chloride and phosphor compounds, polychlorinated bi-phenyls (PCBs), etched chemicals, and arsenic and flame retardants. Vain and incompetent waste management results in greenhouse gas and toxic emissions, and the loss of precious materials and resources.
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One of the main reasons for growth of e-waste is rapid product innovation, especially in electronics and home appliances like migration from analogue to digital technologies and to flat-screen televisions and monitors. Additionally, economic growth coupled with urbanization and industrialization, and mass production of electronic goods have led to price reduction of these goods, almost doubling the universal demand for such products which eventually turn into e-waste. According to the UN, more than 33% increase in electronic waste is expected in the coming four years.
Major regions across the globe generating e-waste is the United States, followed by Europe and Asia-Pacific. The average e-waste produced by the U.S. in 2012 was estimated to be about 29 kg per person. The lowest e-waste producing countries were Haiti, which generated less than 8,000 tonnes of waste in 2012, followed by Afghanistan.
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Many IT and electronic goods manufacturing companies like Dell, Cisco, HP as well as multiple agencies from Switzerland, Egypt, England, China, Japan and others have joined hands with StEP (Solving the E-waste Problem), a global organization for improving e-waste disposal methods. Various other measures are being adopted to minimize e-waste, including technical intervention like product design, production process modification, use of renewable material and energy, and green packaging option. Then there is the policy-level intervention which clearly defines e-waste for regulation. It includes a take back policy wherein producers are responsible for the complete lifecycle of their products. Lastly, awareness building measures are taken where citizens can get to know what necessary steps they need to follow in order to avoid e-waste, like donating electronics for reuse which could extend the lives of the electronic products, opting for products which are made of less toxic material and use minimal packaging, and offer leasing or take back options.
Future Market Insights (FMI) is a leading market intelligence and consulting firm.We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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