Global e-waste management market drivers

Despite the sensitivity regarding environmental issues, e-waste continues to be one of the fastest growing waste streams in the world. To tackle this issue, there is a growing need for efficient scrap management techniques due to the improper disposal of hazardous materials from electronic scrap and combustion.

Recycling electronic waste is a desirable and sensible option because valuable metals such as platinum, gold, silver, and gallium are recovered and the need to mine natural resources is reduced. There is a chance that these components will stimulate market growth in the near future. The worth of the valuable substances found in these outdated electronic devices has increased the demand for its recycling in order to recover valuable metals, plastics, and other critical materials.

?According to their source, the e-waste market is divided into the following segments: Industrial Electronics, Household Appliances, IT & Telecommunication, Consumer Electronics, Medical Equipment, and Others. Based on their type, the e-waste market is divided into 4 categories - Glass, Metal, Plastic and Others. It is anticipated that the metal and the home appliances segments will continue to dominate the global e-waste management market in the years to come. An analysis by Market Research Future (MRFR) reveals that during the forecast period of 2020-2030, the e-waste management market is expected to grow at a CAGR of 16.2%.

What drives the e-waste management market?

?Increasing e-waste volume across the world:

Most electronic products have a short lifespan—less than two years for computers and cell phones—which contributes significantly to the growing e-waste problem. Also, the vast majority of consumers are unaware of the potentially harmful consequences of increased computer, monitor, and television use. When hazardous elements in these goods are disposed of in landfills or destroyed, they pose a health risk – and most people are unaware of this serious concern.

Use of AI in e-waste recycling:

A wide range of hazardous materials that can pollute the environment and harm human health are not closely monitored. Recycling organizations and facilities can use Artificial Intelligence to keep a track of the status of waste bins and improve waste collection routes, schedules, and frequencies throughout the region.

Inadequate regulatory and recycling infrastructure:

Product lifespans have been shortened as a result of rapid technological advancements, which encourage consumers to frequently replace old technology with newer models of computers, phones, and other gadgets. The wealthy nations have several technical options for waste processing, but they are costly. For most of these developed countries, the cheapest option has been to export the majority of trash to developing and underdeveloped countries - where established collection channels for e-waste - from generator to recycler - are lacking.