Market Trends of Global Waste Management Industry
E-waste segment holds the largest share
Development, introduction, growth, maturation, and disposal or recycling are all parts of the everyday life cycle of an electronic product. When an electronic product reaches the recycling stage, it may be because of the end of its useful life, technological advancements, or shifting market demands. New electronic devices and improved models of already-existing products, such as laptops, mobile phones, and televisions, are produced as a result of the rapid improvements in technology.
Iron, copper, tin, and aluminum are the primary metals in e-waste, accounting for more than 90 % of its weight. But the metals with the highest value are palladium, over an estimated USD 1.5 billion in e-waste produced annually in Minnesota; platinum, over an estimated USD 1 billion; copper, and tin, over an estimated USD 100 million each.
When measured per capita, Europeans (16.2 Kg) produce the most e-waste per person, followed by Oceania (16.1 Kg) and the Americas (13.3 Kg). African residents have the least amount of e-waste per capita.
India is now the world's third largest electronic waste producer after the US and China, with steadily increasing volume growth. In India, computer equipment represents nearly 70% of e-waste, followed by cell phones at 12%, electric appliances at 8%, and healthcare devices at 7%.
Globally, less than 1 % of waste is recycled, although this varies from region to region. It is known that only 17.4% of total global e-waste is collected and properly recycled. The rate of collection and recycling in Europe is by far the highest in the world at 42.5%. In second place, Asia had a rate of 11.7%. At just 0.9%, Africa is the lowest in the world.
Due to the increasing adoption of Advanced Electronic and Electrical Devices, which drive demand for replacing obsolete devices with new ones, North America and Asia accounted for approximately 24.9 million tonnes of e-waste.
Asia Pacific Emerged as the Most Significant Global Waste Management Market
Awareness about waste management is projected to increase due to government initiatives like the Swacch Bharat Abhiyan and the zero waste plans adopted by various Asia Pacific nations. This will have a favorable effect on expanding the market in the Asia Pacific.
China accounted for 32 percent of global plastic materials production in 2022, making it the world's largest producer. Other Asian countries were also significant plastic manufacturers, with Japan’s production amounting to 3% of the global plastic production and the rest of Asia producing 17% of the world’s plastic.
Rapid industrialization in major emerging economies in the region and stringent government regulations towards environmental protection are expected to boost the growth of the Asia-Pacific waste management market. The amended Waste Disposal and Cleaning Law of Japan requires company owners to record the location and other waste data when such items are stored outside of the business sites that generate them. The amendment also holds the original building contractors accountable for proper waste disposal.
In 2022, for example, the United Nations Environment Assembly endorsed a resolution to end plastic pollution and agreed to implement an international, legally binding agreement by the end of 2024. The Ellen MacArthur Foundation’s Global Commitment has signatories accounting for more than 20% of the plastic packaging market, including companies such as The Coca-Cola Company and PepsiCo, who have set ambitious 2025 targets to reduce plastic waste and progress the move to a circular economy.
China announced its five-year action plan for reducing plastic pollution in 2021, including bans on non-degradable plastic bags in supermarkets and shopping malls, major cities, and food delivery services. Japan enacted its Plastic Resource Circulation Act in 2022, following the founding of the Japan Partnership for Circular Economy (J4CE) the year before “for the purpose of strengthening public and private partnerships, with the aim of further fostering understanding of the circular economy among a wide range of stakeholders.”
