Portland, Oregon –The global e-waste management market is predicted to grow at almost 12 percent a year between 2020 and 2027.
According to a recent report by Allied Market Research, the market was pegged at US$41.97 billion in 2019, and is anticipated to reach $102.62 billion by 2027, growing at a CAGR of 11.9 percent from 2020 to 2027.
Shorter life spans for electronic devices mean the volume needing handling is growing, while at the same time the scarcity of precious metals increases the value of the used products for meterial recovery.
However, a rise in recycling costs incurred due to dearth of infrastructure and e-waste initiatives by electronic manufacturers across the globe is expected to negatively impact market growth.
The metals segment held the largest share in 2019, accounting for more than half of the global e-waste management market, due to an increase in electronic scrap.
However, the plastic segment is expected to register the highest CAGR of 13.3 percent during the study period thanks to the development of e-waste management initiatives in developing regions.
The consumer electronics segment is anticipated to experience the fastest CAGR of 14.6 percent during the forecast period, in step with the global increase in the sale of devices.
However, the household appliances segment held the largest share in 2019, contributing to nearly half of the global e-waste management market.
The global e-waste management market across LAMEA, followed by North America, is expected to register the highest CAGR of 16.3 percent during the study period.
However, the market across Asia-Pacific dominated in 2019, accounting for more than two-fifths of the market. This was attributed to rising disposable incomes and a greater tendency to upgrade to the latest editions of electronic devices.