A report by US-based Stratistics Market Research Consulting has said that the global e-waste management market is expected to reach $9.5 billion by 2022, grow at a CAGR of 21.4%. The market was valued at $2.4 billion in 2015.
Rapid product innovations as well as adoption of latest technologies and agreements are among the factors that are boosting the growth of e-waste management market, said the report. Key factors such as increasing market penetration in developing countries, replacement of markets in developed countries and a high undesirability rates are driving the market growth. However, toxic substances in the e-waste that increase pollution are hampering the market growth.
Reduction in the life span of electronic device is a challenge before the technology industry.
North American market is likely to witness the highest CAGR in exporting the e-waste to developing nations. The Asia-Pacific region generates larger revenue from the recycled e-waste than the North American market.
Desco Electronic Recyclers and Waste Management Inc., Triple M Metal LP, E-Waste Harvesters, E-Waste Systems, Inc., MRI (Australia) Pty Ltd., Global Electric Electronic Processing Inc., Aurubis AG, Tetronics International Ltd., Boliden AB, MBA Polymers, Inc., Stena Metall AB, Umicore S.A., CRT Recycling Inc., LifeSpan Technology Recycling Inc., Enviro-Hub Holdings Ltd., Electronic Waste Management, SIMS Metal Management, Ltd. and Electronic Recyclers International, Inc. are some of the key players in the market.