The Global Market for Electronics Recycling is Projected to Reach US$32.4 Billion by 2022
Rapid Technology Obsolescence, Shorter
Product Lifecycles & the Ensuing Rise in E-Waste to Drive the Electronics
Recycling Market, According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market size, share and demand forecasts on the global Electronics Recycling
market. The global market for Electronics Recycling is
projected to reach US$32.4 billion by 2022, driven by rapid technology and product replacement cycles and the
resulting rise in e-waste generation coupled with recycling technology
improvements that enhance recovery of rare-earth metals from e-waste.
Electronic
waste is currently one of the fastest emerging solid-waste streams globally,
driven mainly by strong technological advancements and socio-economic
developments in countries across the world. While electronic waste has been a
part of the waste management industry for long time, the speed and volume of
discarding old devices has increased at alarming proportion only in the recent
years. Recycling of e-waste that generally consists of recycling processes that
convert disposed obsolete electronic products such as computers, television
sets, mobile phones, refrigerators and other electronic entertainment products,
from energy-based downstream processes or other traditional recycling processes
that convert equipment into raw form, constitute the crux of the industry
working. The social and environmental benefits of re-use comprise reduced
demand for virgin raw materials and new products thereby easing the load on the
natural resources; less packaging per unit; less use of landfills; proper
disposal of harmful waste; increased availability of electricity and pure water
for related manufacturing; and improved technology availability.
The
growth in the market will benefit from the growing trend of shorter product
lifecycles of electronic devices, and formulation of eScrap guidelines
by several governments across the world. Future
growth will be driven by enhancements in e-waste materials management
techniques, stringent recycling laws implementation, higher obsolescence, and
the recovery of rare-earth metals. Growing number of environmental initiatives
is also a major growth factor. On the other hand, impediments to the
market growth include dearth of regulations to check on unscrupulous ways of
recycling, lower consumer awareness, in particular in developing countries, and
insufficient number of centers for collection of e-waste.
As
stated by the new market research report on Electronics Recycling, Europe represents the largest market worldwide,
supported by stringent government policies pertaining to e-waste management.
Asia-Pacific ranks as the fastest growing market with a CAGR of 15.8% over the
analysis period, led by the region’s massive insatiable appetite for electronics
supported by rapid urbanization and digitalization of lifestyles and increased
spending on electronic goods by the affluent middle class population, and the resulting
growing international pressure on Asian governments to curb the environmental impact
of e-waste generation; and establishment of several policies, initiatives, and
collaborative projects for encouraging environmentally sound management of electrical
and electronic waste across the region
Major
players covered in the report include AERC Recycling Solutions, American
Retroworks Inc., Aurubis AG, Boliden Group, Dlubak Glass Company, Enviro-Hub
Holdings Ltd., Cimelia Resource Recovery Pte Ltd., Exitcom Recycling GmbH,
Fortune Plastic & Metal Inc., MBA Polymers Inc., Sims Metal Management
Limited, Stena Technoworld AB, Ultromex Ltd., Umicore N.V., Universal Recycling
Technologies LLC, and Zak Enterprises, among others.
The
research report titled “Electronics Recycling: A Global Strategic Business
Report” announced by Global Industry
Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market
estimates and projections for Electronics Recycling in value terms for all
major geographic markets such as United States, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Latin
America and Rest of World.
Global
Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights
Reserved.
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