World E-Waste Management Market to Witness Robust Growth

SEATTLE (Scrap Monster): The global e-waste management industry, which generated $49.88 billion in 2020, is expected to reach $143.87 billion by 2028, says the latest research report published by the Allied Market Research. This translates to a CAGR of 14.3%, said the report.

The projected growth in global e-waste management market will be mainly driven by the reduction in life span of electronic devices and the scarcity of sources for precious metals. However, the rising costs of recycling due to lack of adequate infrastructure facilities may likely hinder the market growth over the period. The report also noted that the presence of flame retardants has hindered the growth of e-waste plastic recycling sector.

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The work from home culture on account of Covid-19 pandemic has resulted in increased consumption of laptops and tablets, thus resulting in a large number of desktop computers becoming obsolete. Household appliances segment is likely to continue its dominance in terms of revenue during the forecast period.

Region-wise, the Asia Pacific region accounted for the highest share of electronic waste in 2020, and will continue to be the leader during the period until 2028. The North American market is also expected to grow at a significant pace. The increased adoption of mobile phones is likely to result in increased e-waste management by the African countries.