E-waste management market expected to reach $70 billion in 2024

The e-waste management market size has grown rapidly in recent years. It will grow from $60.25 billion in 2023 to $70 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%, according to Research And Markets.

The e-waste management market size is expected to see rapid growth in the next few years. It will grow to $118.32 billion in 2028 at a compound annual growth rate (CAGR) of 14%. The anticipated growth in the forecast period can be attributed to factors such as health concerns associated with improper e-waste management, the promotion of circular economy initiatives, the proliferation of smart devices, the electrification of transportation, and the emergence of urban mining and resource recovery practices. Key trends expected in the forecast period include technological advancements in e-waste management, innovations in recycling technologies, the integration of digital solutions for efficient processes, the adoption of advanced recycling technologies, and a focus on eco-design principles to enhance sustainability.

The increasing sales of electronic products are poised to drive the growth of the e-waste management market. According to the Japan Electronics and Information Technology Industries Association, electronic device production in May 2023 reached $2.17 trillion (32,099 million), reflecting an increase from $1.71 trillion (25,268 million) recorded in May 2022. The upward trend in electronic product sales is a key driver behind the growth of the e-waste management market.

Key players in the e-waste management market are actively developing digital technology solutions to enhance their service offerings. Zolo, an Australia-based e-waste recycling firm, introduced the Zolo Single Touch e-waste recycling software in September 2023. This innovative solution aims to streamline and revolutionize e-waste recycling processes by addressing prevalent challenges in the industry. Zolo Single Touch features real-time impact visualization, a simplified single-click recycling inventory upload, and comprehensive tracking capabilities adhering to ISO regulations. The software is designed to make the e-waste recycling process secure and transparent, offering efficiency and compliance benefits for recycling operations.

In June 2023, Elemental Holding Group, a Luxembourg-based global urban mining and recycling company, completed the acquisition of Colt Recycling LLC for an undisclosed amount. This strategic move allows Elemental Holding Group to enter the e-waste recycling market in the US and the fast-growing IT asset disposition (ITAD) segment, expanding its geographic presence in the e-waste sector to the North American market. Colt Recycling LLC, a US-based e-waste recycler and IT asset disposition (ITAD) company, brings valuable expertise and capabilities to Elemental Holding Group, contributing to its position in the evolving e-waste management landscape.

Major companies operating in the e-waste management market are Glencore International AG, Veolia Environment SA, Aurubis AG, Waste Management Inc., Boliden AB, Sembcorp Industries Ltd, Suez SA, Umicore N.V., Stena Metall Group, Sims Lifecycle Services, Covanta Holding Corporation, Sims Limited, OnePlus Technology Co. Ltd., Capital Environmental Holdings Ltd., Kuusakoski Group, Electronic Recyclers International Inc., Attero Recycling Pvt. Ltd, ecoATM LLC, Enviro-Hub Holdings Ltd., Cohen Recycling, Triple M Metal LP, MBA Polymers Inc., Lifespan Technology Recycling Inc, Big Belly Solar LLC, All Green Electronics Recycling LLC, Eltech Appliances, Cimelia Resource Recovery Pte Ltd, GNR Solutions Private Limited, Ecoreco. Research And Markets