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E-Waste is often used for the word electronic waste, which is discarded electric or electronics which either can be recycled, reused and used for resale through material recovery or disposed. This scrap includes CPUs, TVs, Refrigerators, Air Conditioners and other modern electrical appliances which contains harmful materials like brominated flame retardants, and heavy metals like lead, mercury, Cadmium beryllium and other chemicals. According to the UN report an estimated amount of e-waste generated in 2018 was 50 million tons. E-waste is also known as urban mining. It is a process of extraction of parts from e-waste to recycle or resale.
Rise in the disposal income is providing easy access to new technologically advanced appliances. Additionally, the trend in young generation of using laptops, smartphones and other devices of upgraded versions is leading in frequent replacement of old devices is driving the market. Stringent rules imposed by certain agencies regarding disposal of e-waste is also providing boost to the market.
Key Market Driver -
Stringent regulations regarding disposal of E-waste
Key Market Restraint -
Careless disposal of electronic waste
However, the increasing carelessness of consumers in disposal of e-waste is creating difficulties in management of e-waste which can potentially hinder the market growth.
Based on the material, the market is segmented intometal, glass, plastic and other. Based on source, the market is segmented into household appliances, IT & telecommunication, consumer electronics, medical equipments and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some of the key players operating in the market includes Electronics Recyclers International, Inc., Sims Metal Management, Environmental Hub Holdings, Boliden AB, Umicore, and Others.
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The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to be the largest market for E-Waste Management. Rise in disposal income is leading consumers to adaption of new and developed electronic devices. Additionally, the rise in import of electronics from North America and other developed countries is expected to drive the market. The market of Middle East and Africa is expected to grow significantly attributed to the illegal dumping of e-waste from other countries. Moreover stringent regulations or collection and recycling of the waste is expected to boost the market. North America is expected to grow moderately due to the stringent rules imposed by Environmental Protection Agency (EPA). Europe is expected to show moderate growth due to the sensitivity regarding the environmental issues. Latin America is expected to show sluggish growth.
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