Electronic Waste Recycling Market – Overview
Electronic waste is growing at an alarming rate due to increase in the purchase of these devices recently by consumers. A report by Market Research Future which conducts research connected to the semiconductors & electronics sector among others lately made available a report on this sector. The industry is estimated to develop with a 17% CAGR approximately while achieving USD 26 Billion in revenue approximately by 2022.
Electronic waste has grown at a considerable rate due to increased purchasing power and increased customer numbers. Lack in the number of facilities that can effectively handle electronic waste has given rise to various kinds of environment related problems. Traditional methods of recycling are not very effective in controlling the damage they cause to the environment. Therefore, there has been an increased level of interest towards creating facilities, technologies and methods that are well suited to handling this problem.
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The industry for Electronic Waste Recycling is categorized on the basis of components of processed materials and sources of equipment processed. On the basis of the category of components of processed material, the plastic sector is further separated into High impact polystyrene (HIPS) and Acrylonitrile butadiene styrene (ABS) among others. The metal category is divided into Silver, Copper, Steel and Glass along with other categories. The source of equipment category is further divided into IT and telecommunication, household appliances and consumer electronics.
Detailed Regional Analysis
The region wide study of the electronic waste recycling sector includes region such as Asia pacific, Europe, North America and Rest of the World. It has been witnessed that the European market will most likely control the waste recycling market for electronics due to causes such as environmental concerns and government initiatives. The research also states that the North American market has the second main market portion in the market for electronic waste recycling. The Asia Pacific region’s Electronic Waste Recycling Market is anticipated to display optimistic growth over the forecast period due to causes such as increasing electronic wastes and rising environmental concerns. In the Asia-Pacific region, countries like Japan, China whose government have taken main efforts for electronic waste management owing to which the countries will demonstrate an unexpected hike in market for electronic waste recycling by the forecast period.
Global Competitive Analysis
The profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise’s liquidity to take the most effective decisions in terms of strategy execution and designing.
The key players in the market for electronic waste recycling are Electronic Recyclers International, Inc. (U.S.), Polymers, Inc. (California), Aurubis AG (Germany), Boliden AB (Sweden) and Sims Metal Management Ltd. (Australia) to name a few.
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Feb 2018 The Hong Kong government has recently opened its pioneering government-backed recycling facility for electronic waste recycling as it strives for leading Asia in tackling a rising global blight that is detrimental to the environment and is also threatening human health and leading to the increase in the number of smugglers. The Hong Kong administration will also begin to charge importers of electronic goods a levy that will be utilized for funding the Alba plant and a free of charge collection service for ewaste.
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