Global E-Waste Recycling and Reuse Service Market Has Potential to Further Rise at USD 1400 Million in 2020 And Haul It Further Up to USD 2100 Million by 2026 With A CAGR of 7%.

Global E-Waste Recycling and Reuse Service Market Has Potential to Further Rise at USD 1400 Million in 2020 And Haul It Further Up to USD 2100 Million by 2026 With A CAGR of 7%.

E-waste is electronic and electrical waste that includes unused or surplus material like computers, printers, monitors, telephones, cell phones, batteries, lamps, etc. Electronic waste describes discarded electronic waste which comprises of various steps for managing electronic equipment waste such as first use, recycle and then dispose. Electronics that are intended for refurbishment, reuse, re-sale or salvage through material recovery are also considered as e-waste.

Technological advancement has always played vital role in invention of novel machinery, equipment’s in the modern world. Moreover, IT sector has had an unprecedented growth since past ten years that has fuelled the upsurge in usage of wide range of electronic products in daily life. The rising demand for electronic products has led to bigger investment in manufacturing of innovative products with shorter life as a result enormous amount of e-waste is being created since last few years.  The processing of e-waste in emergent nations is a leading cause affecting human health and environment. Electronic scrap like CPU’s contain harmful materials like lead, beryllium, cadmium and certain flammable material that may involve significant risk to health workers.

There has been a growing need for more effective disposal, recycling, and reuse strategies. This has thus gone about as the essential driver for the advancement of the worldwide e-squander reusing and reuse services market. Certain entrepreneurs who are willing to take the risk of managing e-waste has a greater chance to initiate their own business, India is of the major producers of e-waste and that has a better opportunity for e-waste management business.

Prospective of e-waste recycling business

With the invention of newer technologies like AI, Cyber-security, Human Augmentation, Everything-as-a-Service (XaaS) etc. need for production of technically advanced machines, processors are on rise. Additionally, crypto currency a novel form of digital currency requires high powered computers in turn which involves immense use of cables for data mining. Many of the electronic items consist of precious raw materials like gold, silver, platinum, etc.  Every year, approximately 44.7 million tonnes of e-waste is produced around the globe containing up to 65 billion US dollars’ worth of raw materials like gold, silver and platinum. The total global e-waste is anticipated to surge nearly by 17% to 52.2 million tonnes in 2021, or around 8% every year.

The e-waste recycling and reuse service market is spread far and wide, yet it is geologically classified as North America, Europe, Asia Pacific, and rest of the world, Europe being the major shareholder in recycling of e-waste.

Market analysis

The rapidly budding problem of e-waste on account of accumulation of toxic-waste has given rise to production and discard of electronic equipment. According to the stats global e-waste recycling and reuse service market was anticipated to grow from $9.84 billion US dollars to 41.36 dollars from 2012 to 2019 with CAGR 23.06%. However, with the rise in e-commerce and online shopping on global scale there is spike in landfill and the issue of disposal is widening, thus giving opportunity for e-waste importers lucrative end. The global e-waste recycling and reuse service market has potential to further rise at USD 1400 million in 2020 and haul it further up to USD 2100 million by 2026 with a CAGR of 7%.

The market is divided based on material type and source such as metals and chemicals, plastics, glass, and others, further consumer electronics and industrial electronics. On account of growth there are several key players, some of the major players such as Aurubis AG, Boliden AB, Stena Technoworld AB, Sim Recycling Ltd., Umicore S.A., MBA Polymers Inc., Enviro-Hb Holdings Ltd., Waste Management Inc. etc.

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