The global e-waste management market is expected to reach $49.4 billion by 2020, a CAGR of 23.5% from 2014, according to a new report from Allied Market Research. Much of the reason for expansion in the market is the ever-growing need for the newest technology, the report states.
The Asia Pacific region contributes to the largest revenue share in the global e-waste management market, followed by European countries.
Other key findings of the study:
Presently, trashed e-waste holds a larger percentage share than recycled e-waste.
In the global e-waste management market, household appliances account for approximately 46% of e-waste as compared to other sources, followed by the IT and telecommunications sector.
The e-waste management rate in Asia-Pacific and European regions is higher than developed countries such as the US, Canada and Mexico.
Human health concerns and environmental hazards caused by e-waste production are leading to the rise of e-waste management programs all over the world. Key providers of recycling services, as profiled in the 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.