India e-Waste Management Market to Offer Opportunity Worth USD 5,198.52 Million by 2032 | Metals are A Hidden Treasure Trove Says Astute Analytica
India's consumer e-waste management market presents a significant opportunity due to rapid e-waste generation and potential for valuable metal recovery. However, the market is hampered by the dominance of the informal sector, limited formal recycling capacity, and low consumer awareness about responsible disposal. With government initiatives and increased investment, the formal sector holds promise for sustainable and profitable solutions.
New Delhi, March 25, 2024 (GLOBE NEWSWIRE) -- According to Astute Analytica, the India e-waste management market is projected to reach a valuation of US$ 5,198.52 million by 2032 from US$ 1,660.46 million in 2023 at a CAGR of 13.52% during the forecast period 2024–2032.
India is among the top five countries in the world that generate e-waste, including China, USA, Japan and Germany. In 2023, the global volume of e-waste was estimated at a massive 61.3 million tons. India is currently the third largest producer of e-waste in the world, generating about 3.2 million tons annually. According to estimates by Toxics Link, this is expected to increase to about five million tons by 2030. A study by ASSOCHAM found that computer equipment accounts for almost 70% of e-waste in India. About one-fifth of this waste comes from Maharashtra alone, but only about 47,810 tons are recycled per year in the state. The other major contributors are Tamil Nadu (13%), Uttar Pradesh (10.1%), West Bengal (9.8%), Delhi (9.5%), Karnataka (8.9%), Gujarat (8.8%) and Madhya Pradesh (7.6%).
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Due to poor infrastructure and lack of legislation and framework for recycling e-waste, only about 5% of India's total electronic trash gets recycled officially every year. Over 95% is managed by scrap dealers who dismantle them instead of recycling — causing wastage of depleting natural resources and irreversible damage to environment and lives due to hazardous methods employed. e-waste management market does not have an up-to-date inventory or numbers for how much e-waste it generates each year which makes it difficult to know how much is recycled or disposed. People need initiatives that encourage them to dispose their old electronics correctly as well as reuse habits that help move towards circular economy. Better infrastructure around management of waste as well as policies and regulatory frameworks will be game changer.
In response to increasing amounts of unsafe disposal practices happening within India's informal sector which handles over 95% of its recycling activities; E-Waste (Management) Rules were implemented across the country in 2022 that included the concept of Extended Producer Responsibility (EPR) — a key principle of India's e-waste management. These rules cover over 100 types of electronic equipment across seven categories. However, only about 5% of India's electronic waste is actually recycled in formal sector and is processed using unsafe and environmentally damaging methods.
Public institutions and startups have been working on more advanced ways to dismantle, segregate and process such trash. However, the progress of formal recycling units has been sluggish.
*Key Findings in India E-Waste Management Market *
Market Forecast (2032) US$ 5,198.52 million
CAGR 13.52%
By Recycler Type Metal Recyclers (64.6%)
By Source Consumer Electronics (62.4%)
By Application Disposable (86.9%)
By Material Metal (65.2%)
Top Trends · Growing demand for refurbished products in tier 2 and tier 3 cities
· Transition from mere collection and recovery to offering wider services like refurbishment and secure data wiping
· Mainstreaming e-waste management in urban planning and development
Top Drivers · Rapid technological advancements leading to shorter product life cycles and increased e-waste generation
· Government initiatives and regulations like Extended Producer Responsibility (EPR) to manage e-waste
· Rising consumer awareness about proper e-waste disposal and recycling
Top Challenges · Lack of proper e-waste collection and recycling infrastructure across India
· Dominance of informal sector leading to unsafe recycling practices and environmental damage
· Low public awareness and participation in formal e-waste collection and recycling channels
*Current Status of India E-Waste Management Market *
· Informal Sector: Currently, approximately 90% of e-waste collection and 70% of recycling in India is managed by the informal sector. Efforts are being made to formalize and regulate the e-waste recycling industry to ensure proper handling and disposal of e-waste.
· Certification Programs: Initiatives like e-Stewards have been introduced to audit and certify recyclers and take-back programs, allowing conscientious consumers to identify those that meet high standards.
· Co-funded Grant Scheme: The Indian government offers a co-funded grant scheme that covers between 25% to 50% of the project costs for e-waste management facilities and building capacity for e-waste businesses.
· Waste to Wealth Mission: The Waste to Wealth Mission, set up under the Prime Minister's Science, Technology & Innovation Advisory Council, is an initiative by the Office of the Principal Scientific Advisor to the Government of India. It aims to leverage global technological capabilities to create socio-economic benefits for the population of India. This mission is part of the government's commitment to effective waste and pollution management
*India's E-Waste Problem: A Massive Opportunity for Growth in E-Waste Management Market*
India has a growing e-waste problem. While it is the third largest generator of electronic waste globally, the country does not have enough formal recycling facilities to cope with its production. Only 32.9% of India’s e-waste — between 2 million and 3.2 million tons annually — undergoes proper recycling, according to estimates from the Ministry of Electronics and Information Technology (MeitY). The informal sector handles the rest, often using hazardous or inefficient processes. The country now has 468 authorized dismantlers/recyclers spread across 22 states, with a total capacity of 1.38593 million metric tons per annum (mtpa), but many operate at less than half capacity on average. Haryana leads in e-waste collection and processing this year with 245 thousand metric tons; other major contributors include Uttar Pradesh, Uttarakhand, Tamil Nadu and Haryana.
This uneven distribution of facilities in urban areas across the e-waste management market means that nearly four-fifths (78%) of India’s e-waste goes uncollected or is mismanaged, says Amitabh Sinha from MeitY’s environment division. New rules introduced by the government last month are designed to encourage more proper disposal and recycling through formal channels. The ministry also runs awareness programs and supports research into safer ways to recycle waste.
In an interim budget 2024, the Indian government made several references to funding improvements in recycling infrastructure and addressing issues with e-waste management. It suggested allocating money for state-of-the-art recycling centers run by private enterprises or boards under defense service establishments; integrating extended producer responsibility (EPR) into the budgetary framework; launching nationwide campaigns to improve awareness about correct disposal methods for e-waste; and providing substantial resources for research and innovation in e-waste management technologies. The budget also called for steps to be taken to ensure consumers’ Right to Repair their products, which would force manufacturers to share spare parts and repair instruction manuals with customers. The movement toward a circular economy and more open competition is gaining support in the US, UK and EU.
*A Hidden Treasure Trove of Valuable Metal Offers revenue Opportunity of **US$ 3,428.75 million by 2032 In India’s E-Waste Management Market *
India's e-waste management sector presents a significant economic opportunity to recover valuable metals from discarded electronics. E-waste contains valuable metals like gold, silver, platinum, copper and palladium. When these metals are extracted and reused, it makes for a more cost-effective approach than traditional mining. For example, one ton of computer scrap contains more gold than 17 tons of gold ore. In fact, cell phones hold 5 to 10 times more gold than the minerals found in ore. Strangely enough, even with their primitive techniques, the informal e-waste sector in India still manages to maintain remarkable metal recovery rates. While only about 30% of cobalt from e-waste is typically recovered, advanced recycling methods can achieve up to a 75% recovery rate.
The economic impact of precious metals lost through unrecycled e-waste is estimated at a staggering USD 57 billion around the world. This positions e-waste as a potential 'urban mine' for crucial metals that India presently imports. Recycled e-waste offers original equipment manufacturers (OEMs) a readily available and eco-friendly source for vital components as well. To put this into perspective: Recycling just five tons of e-waste (approximately 183 computers) can generate a profit of Rs 1,78,308.
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*Consumer Electronics e-Waste to Offer Revenue Opportunity of* *US**$ 3,286.92 million by 2032 In India* *E-Waste Management Market*
India, after China and the US, is the world's third-largest producer of electronic waste (e-waste). 82% of India's e-waste comes from personal devices such as smartphones, tablets, laptops and PCs. The number translates to roughly 2.1 million tons of personal devices that needed recycling in 2023. But only about 78,000 tons of it were likely recycled officially last year — less than 3% of India's total e-waste or around 70% of its personal device waste. Telecom/phones made up most of the remaining e-waste at 12%, followed by electrical equipment at 8%, medical equipment at 7%. The huge volume in the e-waste management market is due to the massive sales growth in electronic gadgets which has boosted demand for recycling, repair and reuse especially of metal-based electronics. India struggles with managing e-waste in any way possible. These include a lack of knowledge about the harmful nature of e-waste, safety concerns, and high recycling costs. Additionally, the disassembly process could expose workers to airborne lead and mercury.
To solve these issues, India has placed new e-waste rules which took effect on April 1, 2023. These rules suggest an average lifespan for electronic products and goal recycling figures based on sales volumes of electronics. For example, it is calculated that scanners will need to recycle at least 900 kg in 2023 based on a 60% rate and a sales volume of 1500 kg in 2018. The government also implemented policies that focus on EPR (extended producer responsibility), recycling standards, and ensuring environmentally friendly practices are followed when disposing of items. Thus, giving an impetus to the growth of the e-waste management market in the years to come.
*India E-Waste Management Market Key Players*
· A2Z Group
· BVG
· Cosmos Recycling
· Ecogreen Energy Pvt. Ltd.
· Ecowise Waste Management Pvt. Ltd
· Green IT Recycling Center Pvt Ltd.
· HYDROAIR TECTONICS (PCD) LTD
· JITF Urban Infrastructure Limited
· Ramky Group
· Tatva Global Environment Ltd
· TES HQ
· Waste Ventures India
· Whitelake Organics Pvt Ltd
· Other Prominent Players
*Key Segmentation:*
*By Recycler*
· Glass Recycler
· Metal Recycler
· Plastic Recycler
· PCB Recycler
*By Source Type*
· Household Appliances
· Washing Machines
· Refrigerators
· Air Conditioners
· Others
· Consumer Electronics
· Televisions
· Computers & IT Devices
· Phones
· Others
· Industrial Equipment
· Others
*By Applications*
· Disposals
· Reuse
· Landfill
· Incineration
· Recycled
*By Material*
· Metals
· Ferrous
· Non-Ferrous
· Copper
· Aluminium
· Gold
· Silver
· Cadmium
· Others
· Plastics
· Glass
· Others
*By States*
· North India
· West India
· East India
· South India
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*About Astute Analytica*
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/