Electronic Recycling Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019
Albany, NY -- (SBWIRE) -- 09/29/2015 -- The global electronic recycling market is expected to witness high growth in the coming few years. According to a recent report from the United Nations, the production of waste electrical and electronic equipment (WEEE), which includes obsolete computers, mobile phones, and HDTVs, is expected to grow by as much as 500% in the coming ten years. The findings of this report clearly shows the humongous amount of e-waste being generated in several countries around the world. The growing amount of e-waste is the primary driver of the global electronic recycling market.
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Huge Amount of E-waste to Fuel Global Electronic Recycling Market
Reports from the U.S. Environmental Protection Agency (EPA) state that more than 112,000 computers are discarded every day in the United States alone. This translates to around 41 million desktops and laptops every years. According to a leading market research firm, Transparency Market Research, the global electronic recycling market will grow at an impressive 23.06% CAGR during the forecast period of 2013-2019. In 2012, the global electronic recycling market was worth US$9.84 billion.
Massive Quantities of E-waste Generated in Developed Regions Dumped in Developing Regions
Geographically, the global electronic recycling market is dominated by Europe, trailed by North America. The electronic recycling rate in Europe is higher than North America, since this region has a more efficient approach to recycling. The approach to recycling in the European electronic recycling market is guided by two directives, namely WEEE and the Restriction of Hazardous Substances (RoHS) Directive.
However, the majority of e-waste from the developed markets of Europe and North America is dumped in developing nations such as India, Pakistan, and China. These developing nations are popular for dumping e-waste, as they lack mandatory recycling regulations. Similarly, South Africa is expected to witness close to an 8X increase in the volume of e-waste, as this region serves as an extensive e-waste dumping ground.
Rising Concern of Governments towards Environmental Preservation to Drive the Market
The global electronic recycling market is driven by the elevated government concern towards the environment. Furthermore, adequate support from government organizations and rising awareness among the consumers is projected to boost the overall electronic recycling market.
The global electronic recycling market is divided on the basis of the type of processed material into copper, steel, plastic resins, and others. According to the equipment processed, the global electronic recycling market is divided into telecom, computers, consumer, industrial, and others. On the basis of source of equipment, the global electronic recycling market is segmented into commercial, schools/universities, government agencies, the manufacturing industry, and residential. The collection methods from these sources is improving every year, which is expected to boost the global electronic recycling market.
Though the overall outlook of the global electronic recycling market is positive, much more efforts are required from governments and non-government organizations to recycle the alarming amount of e-waste generated every year, since though e-waste constitutes only 4% of the global landfill mass, it constitutes over 75% of the environmentally harmful waste.
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