The practice of recycling electronic scrap is growing in response to the decreasing lifespan of electronic products and the implementation of stringent regulations governing the collection and processing of e-waste or electronic waste. According to a report published by Transparency Market Research, the global electronic scrap recycling market is likely to exhibit a CAGR of 7.2% between 2015 and 2022. The market stood at US$11 bn in 2014 and is expected to reach US$34.3 bn by the end of 2022. Europe, during this time, is likely to emerge as the largest regional market for electronic scrap recycling.
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Increasing Disposal and Landfilling of E-Waste Boost Demand for Electronic Scrap Recycling
Disposal of e-waste aggravates landfilling issues and has serious adverse implications on human and environmental health alike. For years, indiscriminate dumping of e-waste on land and in water has caused havoc in the world by aiding the depletion of the earth’s environmental well-being. Recycling, on the contrary, has emerged as the most feasible solution to eliminate the harmful effects of electronic waste dumping. E-waste consists of broken and unwanted electrical or electronic devices, and peripherals such as televisions, smartphones, laptops, computers, refrigerators, printers, and other consumer electronic products.
Recycling has emerged as the most potent solution for resolving the mounting problem of electronic waste. Recycling and dismantling electronic products that have reached their end of life promotes the conservation of raw materials that otherwise would be obtained from nature. Besides, electronic recycling also enables minimizing water and air pollution, which are common byproducts of landfilling and other conventional methods of disposal of e-waste. Electronic scrap recycling mainly includes three processes: collection, pre-processing, and end-processing.
Rising Environmental Concerns and Stringent Government Regulations Give Impetus to Market
Globally, the use of electronic devices and appliances has increased exponentially and is poised to grow further in the near future. While such high dependence on electronic devices has helped humans automate the most critical and time-consuming functions in their daily schedules, it has also overwhelmingly increased the disposal of e-waste in landfills. According to a study published by the Federal Environment Protection Agency (EPA), more than 4 million tons of electronic waste is disposed every year in landfills in the U.S. alone. The volume is likely to increase tremendously in the forthcoming years. Rising environmental concerns, coupled with stringent regulations supporting the recycling of e-waste, will give a major boost to the global market for electronic scrap recycling.
Based on the type of metal extracted, the global market for electronic scrap recycling can be segmented into non-ferrous, precious, and ferrous metals. By volume, the ferrous metals segment led the market in 2014. However, the non-ferrous metals segment is anticipated to exhibit the fastest CAGR in the forthcoming years. In terms of revenue, the precious metals segment dominated the market, and it is expected to remain the market leader even in the near future.
Global Electronic Scrap Recycling Market to Remain Consolidated in Nature
The competitive landscape of the global electronic scrap recycling market is heavily consolidated in nature. Leading companies are mainly focusing on geographical expansion to gain a competitive edge in the market. Some of the companies operating in the market are Dowa Holdings Co., Ltd., Boliden Group, Mitsubishi Materials USA Corporation, Stena Technoworld AB, Electronic Recyclers International, Inc., and others.
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