| A00483 | Pages: 239 | Jun 2021 | 57490 Views | ||
| Author(s) : Abhijith Nair | Tables: 103 | Charts: 67 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The global e-waste management market size was valued at $49,880 million in 2020, and is projected to reach $143,870 million by 2028, registering a CAGR of 14.3% from 2021 to 2028. Ever increasing demand and scarcity of rare metals has been leading to rapid rise in prices of these metals. Such metals need to be recovered from e-waste for reuse in another production. For instance, in one million mobile phones in e-waste, there is around 250 kg of silver, 24 kg of gold, and nine tons of copper that can be recovered. This also benefits manufacturers to produce electronic devices with lower cost and gain cost advantages over competitors.
With offices and enterprises adopting mandatory work from home policies, there has been a greater adoption of laptops and mobile devices, thereby lowering the usage of office desktop and computers. This scenario has resulted in creating a recycling option for these equipment, which in turn is set to favor the market growth during the forecast period.Mandatory work from home polices adopted by both private and public organizations has boosted the adoption of mobile devices. For instance, as per the analysis by AMR, around 60 % businesses in Europe are planning to allow employees to work from home in the future. This scenario is estimated to create a lower adoption rate for enterprise IT equipment and accessories. For instance, in 2020, around 29% office desktop PC’s were abandoned and over 23% PCs are not expected to be required over the next year
E-waste contains special and precious metals including silver, gold, palladium, platinum, indium, and gallium. These scarce elements are widely used in production of consumer electronics and IT & communication devices. Due to scarcity of these metals, prices associated with their products is also high. This has increased the need to reuse, refurbish, and recycle devices made from metals. Thus, these issues certainly force manufacturers of electronic devices to look for raw materials available from recycled e-waste. This also benefits nations to reduce greenhouse gas emissions and certainly help reduce hazards of global warming.
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Nature of electronic devices is such that they get obsolete or need repair from time to time. This is a major cause for the generation of e-waste. The cost of replacing an electronic device is lesser than those getting repaired. Therefore, it has been observed that there is a growth in tendency to purchase a new product rather than repairing them. This increased obsolescence rate is leading to huge generation of e-waste currently. This leads to reuse, refurbishment, and recycle of waste generated and creates the need to setup wide network of collection zones. In emerging countries, with strict regulatory frameworks and initiatives of electronic product manufacturers, there are expected to be more opportunities for management of obsolete products.
By processed material type, the global e-waste management market share was dominated by the metal segment in 2020, and is expected to maintain its dominance in the upcoming years. As electronic scrap has increased over the past decade due to revolutionary changes in electric and electronic sector, incineration and recycling of these materials have gained high traction. Moreover, increase in health hazards such as kidney damage, bronchitis, and other diseases, owing to scarce discharge of toxic materials from incineration and scrap has increased need for efficient scrap management techniques. Aforementioned factors are expected to drive growth of the segment in the global market during the forecast period.
By source type, the global e-waste management market was dominated by the household appliances segment in 2020, and is expected to maintain its dominance in the upcoming years. Household appliances constitute a major part of the e-waste across the world. This has generated need to formulate effective policies to manage tremendous volume of e-waste. Several countries have mandated manufacturers and importers to take-back electronic products for end-of-life management. Manufacturers can sell electronic scrap for reuse or forward it to other companies for recycling. For instance, in Japan under Home Appliances Recycling Law, consumers of appliances such as refrigerators, air conditioners, and washing machines have to forward them to retailers to send them to companies. These policies are creating conducive environment for recycling e-waste.
Asia-Pacific dominates the e-waste management market, owing to various factors such as new product developments due to continuous innovations and constant decline in prices of electronic products. This has considerably affected actual life span of electronic products such as computers and mobiles. In addition, increase in per capita income across many countries of this region has led to frequent switching to upgraded versions of the products. These factors are collectively responsible for increase in sales of electronic devices such as mobiles phones, refrigerators, and computers in the last decade, which ultimately increase e-waste in the region.
Rise in sales of electronic and electrical devices as well as hesitance to repair defective devices increase the volume of e-waste each year. Users often refrain from repair of defective or obsolete products, as in some cases, the repair cost exceeds price of a brand new device. This results in rapid increase of e-waste each year. In addition, dumping of e-waste from developed regions to developing countries such as India, China, and Pakistan, is creating numerous opportunities for effective management of e-waste.
The report focuses on growth prospects, restraints, and e-waste management market analysis. The study provides Porter’s five forces analysis of the e-waste management to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the media & entertainment storage market trends.
The e-waste management market is segmented on the basis of processed material type, source type, application, and region. By processed material type, it is categorized into metal, plastic, glass, and others. By source type, it is classified into household appliances, industrial electronics, and consumer electronics. Depending on household appliance, the market is divided into refrigerator, washing machines, television, air conditioners, and others. By industrial electronics, it is bifurcated into IT & telecom equipment and medical equipment. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Post COVID-19, size of the e-waste management market is estimated to grow from 49,880 million in 2020 and projected to reach $143,870 million by 2028, at a CAGR of 14.3%. The current estimation of 2028 is projected to be higher than pre-COVID-19 estimates. In terms of economic impact, the market has experienced a positive growth trend, adoption of work from home policies has led to increased demand for mobile computing devices, which has reduced the usage of stationary desktop and devices, thus in order to reduce the operational cost, enterprises have been focusing on recycling these systems, creating an immense opportunity for the overall market growth.
With this growing opportunity, various companies have been actively investing in e-waste management. For instance, in January 2021, Petonic Infotech announced half a million-dollar investment in Prometheus e-waste Recycling. With this investment, Petonic Infotech aims to help Prometheus e-waste promote sustainable e-waste management across India. Furthermore, the funding will help Prometheus e-Waste bring a safe, hassle-free, and results-driven solution to tackle India's e-waste problem.
Driving forces that have direct implication on e-waste industry include decrease in life span of electronic devices that drive the growth of the e-waste management market, scarcity of precious metals that make recycling of e-waste essential, and high rate of obsolescence that adds e-waste in tremendous volume. However, high cost of recycling restricts e-waste management and less number of sufficient waste collection zones are some of the factors that could hinder market growth in the coming years. Furthermore, rise in initiatives by electronic manufacturers across the globe is an opportunistic factor for the growth of the global market.
Rapid technology advancement and frequent innovations in the product lead to surge in the sale of electronic products. Especially mobile devices, televisions, and computer devices are experiencing fast growth across the world. There is a continuous increase in the sale of these electronics with increase in purchasing power and rise in trend of disposable income. In addition, new product launches with updated features and additional services attract the customers to upgrade their old products with new products. This has reduced the life span of these devices to about 3-4 years. Thus, this is adding more and more e-waste at a tremendous rate, thereby encouraging industry players to expand their business and enable them build wide network for e-waste collection and setup more processing facilities. The ongoing sale of electronic products, especially in emerging countries would provide lucrative environment for e-waste management in the coming years. Moreover, rapid technology advancements and constant innovations in the product are enabling the electronic industry players to launch new products every day, which results in decreasing life of all white goods. In addition, with the increase in disposable income, the customers are able to afford the premium priced electronic devices, which in turn drives the demand for these devices.
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Ever increasing demand and scarcity of rare metals has been leading to rapid rise in the prices of these metals. Such metals need to be recovered from e-waste for reuse in another production. For example, in one million waste of mobile phones, there is near about 250 kg of silver, 24 kg of gold, and nine tons of copper that can be recovered. This would also benefit the manufacturers to produce the electronic devices with lower cost and gain cost advantages over competitors.
E-waste contains special and precious metals including silver, gold, palladium, platinum, indium, and gallium. These scarce elements are widely used in the production of consumer electronics and IT & communication devices. Due to scarcity of these metals, the prices associated with their products is also high. This has increased the need to reuse, refurbish, and recycle the devices made from metals. Thus, these issues would certainly force the manufacturers of electronic devices to look for raw materials available from recycled e-waste. This would also benefit the nations to reduce greenhouse gas emissions and certainly help to reduce the danger of global warming. The nature of electronic devices is such that they get obsolete or need repair from time to time. This is a major cause for the generation of e-waste. The cost of replacing an electronic device is lesser than those getting repaired. Therefore, it has been observed that there is a growing tendency to purchase a new product rather than repairing those. This increased obsolescence rate is leading to huge generation of e-waste currently. This leads to reuse, refurbishment, and recycle of waste generated. This creates the need to setup wide network of collection zones. In emerging countries, with strict regulatory frameworks and initiatives of electronic product manufacturers, there would be more opportunities for management of obsolete products.
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Key Benefits For Stakeholders
Key Market Segments
Key Market Players
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According to CXOs of the major companies, the e-waste management market is experiencing a rapid growth, Rapid technology advancement and frequent innovations in the product lead to surge in the sale of electronic products. Especially mobile devices, televisions, and computer devices are experiencing fast growth across the world. There is a continuous increase in the sale of these electronics with increase in purchasing power and rise in trend of disposable income. In addition, new product launches with updated features and additional services attract the customers to upgrade their old products with new products. This has reduced the life span of these devices to about 3-4 years. Thus, this is adding more and more e-waste at a tremendous rate, thereby encouraging industry players to expand their business and enable them build wide network for e-waste collection and setup more processing facilities. The ongoing sale of electronic products, especially in emerging countries would provide lucrative environment for e-waste management in the coming years.
Moreover, rapid technology advancements and constant innovations in the product are enabling the electronic industry players to launch new products every day, which results in decreasing life of all white goods. In addition, with the increase in disposable income, the customers are able to afford the premium priced electronic devices, which in turn drives the demand for these devices.
According to CXOs of leading companies, the e-waste management market is experiencing a colossal shift and growth, backed by ever increasing demand and scarcity of rare metals has been leading to rapid rise in the prices of these metals. Such metals need to be recovered from e-waste for reuse in another production. For example, in one million waste of mobile phones, there is near about 250 kg of silver, 24 kg of gold, and nine tons of copper that can be recovered. This would also benefit the manufacturers to produce the electronic devices with lower cost and gain cost advantages over competitors.
E-waste contains special and precious metals including silver, gold, palladium, platinum, indium, and gallium. These scarce elements are widely used in the production of consumer electronics and IT & communication devices. Due to scarcity of these metals, the prices associated with their products is also high. This has increased the need to reuse, refurbish, and recycle the devices made from metals. Thus, these issues would certainly force the manufacturers of electronic devices to look for raw materials available from recycled e-waste. This would also benefit the nations to reduce greenhouse gas emissions and certainly help to reduce the danger of global warming. The nature of electronic devices is such that they get obsolete or need repair from time to time. This is a major cause for the generation of e-waste. The cost of replacing an electronic device is lesser than those getting repaired. Therefore, it has been observed that there is a growing tendency to purchase a new product rather than repairing those. This increased obsolescence rate is leading to huge generation of e-waste currently. This leads to reuse, refurbishment, and recycle of waste generated. This creates the need to setup wide network of collection zones. In emerging countries, with strict regulatory frameworks and initiatives of electronic product manufacturers, there would be more opportunities for management of obsolete products.
The e-waste management market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 30-45% of the share. The degree of concentration is expected to remain same during the forecast period. On the other hand, ever-increasing demand and scarcity of rare metals has been leading to rapid rise in the prices of these metals. Such metals need to be recovered from e-waste for reuse in another production.
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