“Global E-waste Disposal Market to reach a market value of USD 172.1 Billion by 2031 growing at a CAGR of 13.4%”
The Global E-waste Disposal Market size is expected to reach $172.1 billion by 2031, rising at a market growth of 13.4% CAGR during the forecast period.
In Asia-Pacific countries like Japan and South Korea, where technological advancements and high rates of electronic device consumption are prevalent, there has been a heightened awareness of the environmental impact of e-waste. Thus, the Asia-Pacific region acquired $25,186.2 million revenue in 2023. Governments and industry associations in these countries have launched campaigns to educate the public about the importance of recycling e-waste and the potential hazards of improper disposal.
Advancements in recycling technologies and processes have made it more feasible to extract valuable materials from electronic waste. One of the significant advancements is the development of advanced sorting and separation technologies. As a result, the market is experiencing significant global growth, driven by technological advancements promoting sustainability and resource conservation. Additionally, the rapid expansion of the electronic industry has been a defining characteristic of the global economy in recent decades, driven by several key factors that have contributed to its growth and evolution. Thus, the exponential growth of the electronic industry underscores the necessity for robust e-waste disposal services and emphasizes the urgent need for comprehensive strategies to tackle the escalating challenges posed by electronic waste on a global scale.
However, E-waste disposal and recycling represent a complex and financially demanding process, presenting significant challenges for businesses, particularly smaller organizations lacking dedicated resources or expertise in waste management. Hence, these cost and complexity barriers can significantly deter market entry and growth in the market.
On the basis of source, the market is divided into household appliances, IT & telecommunication, consumer electronics, and others. The consumer electronics segment acquired 51.4% revenue share in the market in 2023. Consumer electronics, such as smartphones, laptops, tablets, and televisions, are widely used and frequently replaced as new models and technologies emerge. This results in many electronic devices being discarded annually, contributing significantly to e-waste generation. Advancements in recycling technologies have made extracting valuable materials from consumer electronics more feasible and cost-effective, driving the growth of the market.
Based on material, the market is segmented into metal, plastic, glass, and others. The plastic segment procured a 26% revenue share in the market in 2023. E-waste often contains plastic components such as casings, cables, and circuit boards. Recycling these plastics reduces the volume of waste sent to landfills, alleviating the strain on landfill capacities and reducing environmental pollution. Recycling plastic requires less energy than producing new plastic from raw materials. This leads to lower greenhouse gas emissions and contributes to energy conservation efforts.
Free Valuable Insights: Global E-waste Disposal Market size to reach USD 172.1 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered a 30% revenue share in the market in 2023. North America, particularly the United States and Canada, generates a significant volume of electronic waste due to high technology adoption rates, frequent device upgrades, and a large population. This creates a substantial market for e-waste disposal and recycling services. Growing awareness of environmental issues, pollution concerns, and the impact of improper e-waste disposal has led to increased demand for sustainable and environmentally friendly e-waste management practices.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 63.6 Billion |
| Market size forecast in 2031 | USD 172.1 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 13.4% from 2024 to 2031 |
| Number of Pages | 193 |
| Number of Tables | 280 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Source, Material, Region |
| Country scope |
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| Companies Included | Sims Limited, Umicore N.V., Boliden AB, MBA Polymers Inc, Tetronics Technologies Limited, Veolia Environnement S.A., Desco Electronic Recyclers, Electronic Recyclers International, Inc., Stena Metall AB, AURUBIS AG |
By Material
By Source
By Geography
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