New York, US, April 21, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “E-Waste Recycling Market information by Material, by Source and Region – forecast to 2030” market size to reach USD 99.67 billion, growing at a compound annual growth rate of 16.2% by 2030.
E-Waste Recycling Market Scope:
The use of AI in e-waste recycling will offer robust opportunities for the market over the forecast period. Because a wide range of dangerous materials that might pollute the atmosphere and impair health are not regularly monitored, electronic waste is one of the world’s fastest growing environmental challenges. Sensors connected to the Internet of Things (IoT) are used by waste management companies to track the state of waste bins around the region. Organizations can improve waste collection routes, timetables, and frequencies as a result of this. Artificial intelligence is used to scan waste or new things with cameras and appraise those using deep learning algorithms. AI can discern between items made of distinct materials as well as subtle differences between items made of the same substance, such as if an item has been chemically polluted, ensuring the cleanliness of the waste stream. For smart recycling and waste management, including AI into garbage sorting and disposal operations is a superior option. As a result, AI and a variety of sensors, including RFID tags, are employed. In the trash management industry, many intelligent dustbins incorporating AI programmes and Internet of Things (IoT) sensors have been developed.
Dominant Key Players on Electronic Waste Recycling Market Covered are:
- Umicore SA
- Quantum Lifecycle Partners (GEEP Inc.)
- Enviro-Hub Holdings Ltd.
- Stena Technoworld AB
- Tetronics International Limited
- Electronic Recyclers International Inc.
- SIMS Limited
- Aurubis AG
- Boliden AB
- Attero Recycling Pvt. Ltd.
- Great Lakes Corporation
- E-Parisaraa Private Limited
- Veolia Environment SA
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Market USP Exclusively Encompassed:
Rising Electronic Waste across the World to Boost Market Growth
The rising electronic waste across the world will boost market growth over the forecast period. Even as the lifespan of these goods has shrunk, the global industry for electronic trash recycling has grown dramatically in recent years. Policymakers face a new issue as more of these products end up in landfills and recycling facilities. The majority of people are completely unaware of the potentially hazardous repercussions of increased monitor, computer, and television usage. When these things are disposed of in landfills or destroyed, the toxic substances in them pose a health risk. Electrical goods that are incorrectly disposed of have the potential of harming the environment. Environmental toxins are expected to grow increasingly prominent as more e-waste is disposed of in landfills, increasing the risk of neurological disorders. Most electronic products have a limited lifespan—less than two years for computers and cell phones—which contribute to the growing e-waste problem. The majority of poor countries lack the waste removal infrastructure and technological capabilities required to safely dispose of hazardous waste. E-waste has been linked to a number of health risks in these countries.
Scarcity of E-Waste Collection Centers to act as Market Restraint
The scarcity of e-waste collection centers and lack of awareness in less developed countries may act as market restraints over the forecast period.
Lack of Regulatory Infrastructure to act as Market Challenge
The lack of regulatory and recycling infrastructure and high cost of recycling may act as market challenges over the forecast period.
Browse In-depth Market Research Report (199 Pages) on Electronic Waste Recycling Market:
Segmentation of Market Covered in the Research:
The global electronic waste recycling market has been bifurcated based on sources and material.
By material, metals will lead the market over the forecast period.
By source, household appliances will dominate the market over the forecast period.
APAC to Spearhead Electronic Waste Recycling Market
The APAC region will spearhead the electronic waste recycling market over the forecast period. New product developments for constant innovations and also constant fall in prices of electronic goods, increase in per capita income across several countries, increase in sales of electronic devices like computers, refrigerators, and mobile phones, increase in sales of electrical and electronic devices, hesitance to repair defective devices, dumping of e-waste from developed regions to developing countries like Pakistan, China, and India, rising environmental concerns, increasing electronic wastes, government efforts for electronic waste management in Japan and China, the presence of vast number of industry experts, immense technical knowledge, readily available workforce, and the implementation of several government policies are adding to the global electronic waste recycling market growth in the region.
COVID-19 Impact on the Global Electronic Waste Recycling Market
With the implementation of required work-from-home rules by companies and businesses, there has been a growing adoption of laptops and mobile devices, reducing the use of office desktops and computers. As a result of this circumstance, a recycling option for these machines has emerged, which is expected to boost market growth throughout the forecast period.
Nupur Recyclers, a global leader in metal scrap processing and recycling, is excited to help the country deal with its growing e-waste problem. The firm has been instrumental in bringing order to the largely fragmented recycling industry. It is currently looking to buy or partner with an e-waste management company in India, with the goal of deploying sustainable technology and investments to assist minimize the carbon footprint of outdated electrical gadgets.
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