Over the past few years, technological advancements coupled with rising disposable income levels of consumers have revolutionized the electronics industry. The increasing demand for electronic products is leading to a rise in electronic waste (e-waste). Every year, 20 to 50 million metric tons of e-waste is generated globally. Though e-waste accounts for less than 4% of the global landfill mass, it contains more than three-quarters of the environmentally hazardous waste. Electronic recycling helps in recovering special and precious metals and maintaining circular flow to achieve the availability demand. According to the US Environmental Protection Agency, for every one million mobile phones that are recycled, 75 lbs of gold, 35,274 lbs of copper, 33 lbs of palladium, and 772 lbs of silver can be recovered. According to the report by Transparency Market Research (TMR), the global electronic recycling market is poised to rise at a CAGR of 23.0% from 2013 to 2019, reaching a value of US$41.3 bn by 2019 from US$9.8 bn in 2012.
The report provides a 360-degree view of the global Electronic Recycling Market. It does so via historical data, current market scenario, and verifiable projections about market size. Primary and secondary resources have come into play while collating this study. It presents an extensive understanding of various aspects of the market including trends, opportunities, geographical segmentation, types, technology, and applications.
Global Electronic Recycling Market: Drivers and Restraints
The average life span of most electronics gadgets has been consistently declining. Fast obsolescence of electronic gadgets is leading to increasing generation of e-waste, thereby fuelling the growth of the global electronic recycling market. Moreover, the rising concern for environment conservation along with increasing awareness among the consumers regarding benefits of recycling is giving a significant boost to the market. Other factors such as increasing support and initiatives by governments, original equipment manufacturers (OEMs), and nonprofit organizations and growing visibility in terms of collection methods are driving the market.
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However, low levels of awareness and inadequate public education are leading to high cost of recycling. Moreover, the presence of inimical regulatory infrastructure is adding to its cost. These factors are, therefore, resulting in low recycling rate and consequently impeding the growth of the market.
Global Electronic Recycling Market: Geographical Segmentation
On the basis of geography, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe was the leading revenue contributor in the market in 2012 followed by North America. The growth of the Europe market for electronic recycling can be attributed to the effective reinforcement of strict regulations pertaining to the recycling of e-waste. Directives such as the Waste Electrical and Electronic Equipment (WEEE) and the Restriction of Hazardous Substance (RoHS) have been imposed in this region, which has given a considerable push to the market. Furthermore, most of the e-waste from developed countries are imported to developing or under-developed countries such as Pakistan, China, South Africa, and India due to the availability of cheap labor coupled with the lack of proper regulatory infrastructure.