Demand for E-Waste Management Increases in Response to Rising Environmental Risks Related to E-Waste Production
The ever-growing need for adapting the latest technology is the prime factor for a large volume of E-Waste generated across the globe. The Asia Pacific region contributes to the largest revenue share in the global E-Waste management market, followed by European countries. Analysis of the market indicates that the global volume of E-waste accounted for 57.7 million tons in 2013.
E-Waste Management Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $49.4 billion by 2020, registering a CAGR of 23.5% during the period 2014 – 2020.The ever-growing need for adapting the latest technology is the prime factor for a large volume of E-Waste generated across the globe. The Asia Pacific region contributes to the largest revenue share in the global E-Waste management market, followed by European countries. Analysis of the market indicates that the global volume of E-waste accounted for 57.7 million tons in 2013.
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StEP (Solving the E-waste problem) is a German based establishment that manages the processing of E-Waste in developed countries.Ruediger Kuehr, executive secretary of StEP, states that Rapid product innovations and replacements for electronic gadgets account for the rise in E-Waste worldwide. The monumental rise of E-Waste brings across an impending need for all countries to manage their E-Waste effectively. The U.S. is a major exporter of used electronic goods. The region exports a large quantity of CRT (cathode ray tubes) monitors and a considerable number of cellphones, amongst other electronic devices. National Center for Electronics Recycling (NCER), is a U.S. based non-profit organization dedicated to the enhancement of national infrastructure for recycling E-waste. NCER states that, nearly 54 million tons (49 metric million tons) of E-Waste, i.e. approximately 43 lbs (20kg) per person, is generated every year across the globe. The study estimates that U.S. generates a large quantity of E-waste, major portion of which is shipped to developing countries (mainlyAsia) and West Africa, where it is usually disposed-off in backyards or recycled. These deposits ultimately cause numerous health issues and environmental hazards.
Jason Linnell, an Executive director of NCER has mentioned that the U.S is yet to fully utilize its recycling capacity as compared to other countries. Presently, North Americais largely taking initiatives to recycle its E-Waste. The StEP estimated that the U.S generated about 258.2 million units of used-electronics (monitors, cellphones, computers and TV sets) in 2010, of which, 171.4 million were collected for recycling and 14.4 million were exported. The E-Waste management initiatives in North America should significantly reduce E-waste exports and propel the domestic market. Adoption of E-Waste management programs by all the countries globally, would further minimize the health concerns and significantly reduce environmental hazards. Presently, North Americais a leader in exporting E-Waste to developing countries. These exports generate a large quantity of trash for recycling in emerging markets. The Asia-Pacific comparatively generates a larger revenue from the recycled E-Waste. However,North Americais also in the process of recycling the E-waste, which would add to a larger share of its revenue in the global market.
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From the year 2000 – 2005, the Organization for Economic Co-operation and Development (OECD), identified a growth of approximately 22% in Information and Communications Technology (ICT) market in China, declaring it to be the 6thlargest ICT market in 2006, followed by the U.S,Japan,Germany, UK and France. Thus, in the wake of constant innovation and rapidly increasing adoption of new technologies, there exists a need more than ever before, for the adoption of E-Waste management programs, globally.
Key findings of E-Waste Management Market:
– Presently, the trashed E-waste holds a larger percentage share as compared to the recycled E-Waste.
– In the global E-Waste management market, household appliances generate the largest amount i.e. approx. 46% of E-Waste as compared to other sources, followed by the IT and Telecommunications sector
– The IT and Telecommunications sector is expected to produce a large volume of E-Waste by 2020
– Asia-Pacific region would generate the highest revenue for the E-Waste management market by 2020.
– The E-Waste management rate in Asia-Pacific and European regions is higher than developed countries such as U.S,Canada and Mexico
Human health concerns and environmental hazards caused due to E-Waste production, annually, are leading to the rise of E-Waste management programs all over the world. The government agencies with the help of E-waste management players, are strategically focusing on new and innovative E-Waste Management programs. These programs are focused at reducing the world’s E-Waste and its hazards. Lack of awareness regarding the hazards associated with E-Waste in the LAMEA region and the lack of E-Waste recycling plants inthe United States, support the growth of the global E-Waste management market, at a faster pace. The key providers of recycling services, profiled in this report are Stena Metall AB, SIMS Recycling Solutions, Umnicore, Electronic Recyclers International Incorporation, Tetronics Limited, CRT Recycling Incorporation, LifeSpan Technology Recycling Incorporation, Triple M Metal LP, MBA Polymers Incorporation and Enviro-Hub Holdings Limited.