E-waste Recycling Market Will Continue To Boom Says Market.us Analyst
E-waste is nothing but Electronic waste. It includes discarded computer monitors, motherboards, mobile phones and chargers, compact discs, headphones, television sets, air conditioners and refrigerators. In a simple way, we can say trash generated from broken, obsolete and surplus electronic devices[e-scraps].
As per a survey conducted by Global E-Waste Monitor 2017, India generates about 2 million tonnes (MT) of e-waste annually and ranks 5th among e-waste producing countries, after the US, China, Japan and Germany. The rapid expansion of technology and the consumption-driven society results in the creation of a very large amount of e-waste every minute. Electronics contains various toxic and hazardous chemicals and materials that are released into the environment if we do not dispose of them properly.
E-waste Recycling Process:
E-waste Recycling Process is simple that seeks to recover material from electronic waste Or we can say, E-waste recycling then refers to the reprocessing and re-use of these electronic wastes. About 95% of India’s e-waste is recycled in the informal sector and in a crude manner.
Step-by-Step Process of E-waste Recycling
Benefits of E-waste Recycling
- To Conserve Available Natural Resources
- To Prioritizes Environmental Protection
- To recover various valuable metals and other materials from electronics,
- Creates Jobs
- Saves Landfills and Reduces Global Warming
- Reducing pollution
- Helps cut down on production waste
Challenges for Electronics Recycling Industry
- Exporting e-waste to developing nations[Including hazardous and toxic materials, is leading to serious health hazards for the workers].
- Many products are being made in ways that make them not easily recyclable, repairable or reusable.
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Regional Assessment and Competitive Analysis
The global E-waste Recycling market 2021 is spanned across the top five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Geographically, North America has the major market share for this report global market. The strong research and development practices in the North American region have helped the market to grow. Also, the favourable regulations have helped the North American market to propel to the level of the market leader in the E-waste Recycling industry. Countries such as the U.S., Canada, and Mexico are the major players in this region.
The market for E-waste Recycling, in the remaining region, is growing at a higher growth rate with exploration creating growth prospects, especially, in the Asia-Pacific and Middle-East regions. The Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to the rising demand for E-waste Recycling. Countries such as China, Japan, and India are the major players in this region. Moreover, it is projected that the implementation of stringent rules and regulations in the major sectors has propelled the European region to witness stagnant growth in Germany, the U.K, and Italy. The Middle East & Africa is estimated to observe slow growth due to changing prices of raw materials and economic slowdown in the region.
Some of the major players functioning in the E-waste Recycling market are Ricoh, Sagemcom, Lenovo, Philips, EPSON, Cimsun tech, SAMSUNG, Xoceco, BR, Sharp, Canon(OTC:CAJFF), Panasonic(OTC:PCRFF), Muratec, HP(NYS:HPQ), Lexmark, TOEC, Fuji Xerox, kyocera and Jinheng Technology.
Among Product Type, this market is further categorized into Infocomm technology (ICT) equipment, Home appliances, types, which is Expected to Hold the Largest Share (2022–2031).
