Electronic Waste Recycling Market Scope
Globally,
the size of the Electronic
Waste Recycling Market is expected to reach USD 99.67 billion at a CAGR of
16.2% during the forecast period 2022-2030 driven by Increasing Electronic
Waste Across the Globe and o Rise in Employment Opportunities in Developing
CountriesThe electronic waste recycling market has seen significant growth as
recycling e-waste is being witnessed as a growing trend across the globe and
has initiated to protect human and environmental health mainly due to the
widespread environmental pollution impacts of e-waste.
The
market is driven by the increasing volume of electronic waste generated
annually. Concerns over the effects of e-waste and depleting resources of
minerals can drive the market demand. Waste management companies are going ahead and creating mobile applications for the
convenience of customers and providing payment as incentive to boost
responsible e-waste management. Entrepreneurs in Africa are procuring
electronic equipment in large quantities to extract rare minerals and rebuild
gadgets. Development of power banks made using recycled minerals is likely to
favor the market growth.
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Electronic
Waste Recycling Market Segmentation
The Electronic Waste Recycling Market is segmental
into the electronic waste reusing market is completed based on material,
source, and district. Based on sources, the Electronic Waste Recycling Market
is sectioned into modern gadgets and purchaser hardware. In light of the
material, the Electronic Waste Recycling Market comprises of plastics, glass,
metals and synthetic compounds, and others like pressed wood, concrete, wood,
elastic, and ceramics. Based on the areas, the Electronic Waste Recycling
Market is fragmented into Africa, Europe, North America, the Middle East,
Asia-Pacific, and South America.
Electronic
Waste Recycling Market Regional Analysis
According to the market analysis the worldwide
Electronic Waste Recycling Market is segmented into different regions. Europe
is projected to lead the e-waste recycling advertise and hold its portion
during the evaluation time frame because of the quickly rising execution of
electronic waste reusing programming, arrangements, stages, and frameworks
across industry verticals like security, auto, medical services, IT and
Telecommunication, agribusiness, retail, and assembling. Besides, there is an
ascent in the reception of electronic waste reusing innovation for picture and
discourse acknowledgment and information mining which drives the Electronic Waste Recycling Market Growth.
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COVID-19
Impact
The
COVID-19 pandemic can have a negligible impact on the global electronic waste
recycling market owing to consumer electronic products taking a hit in 2020.
Shutdown of factories and restrictions placed on ecommerce firms and physical
stores have led to the downfall. According to the report by the U.N., nearly 5
million tons of waste was avoided during 2020.
Industry
News
In October 2018, one of the main organization
Tetronics presented a Plasma Metal Recovery System (PMRS) which is made
uncommonly to handle calcined gadgets waste and car and synthetic catalysts.
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