The rising awareness towards the adverse impact of electronic waste on the environment and health is driving the governments towards e-waste management policies globally. Initiatives led by governments include financial assistance towards recycling facilities, incentives, and mandatory waste collection regulations towards electronic manufacturers. Policies such as Extended Producer Responsibility (EPR) services commissioned towards encouraging e-waste collection and recycling are promoting the growth of the e-waste management market.
Furthermore, several non-government organizations are conducting awareness campaigns focused on consumer education on e-waste disposal and recycling methods. Also, the economic benefits coupled with recycling and reuse of discarded devices are motivating the waste management activities. Electronic devices contain glass, plastic, and several useful metals that can be reused, thereby limiting the need for imports. This is also providing a considerable financial advantage to OEMs in the electronics industry. Metals such as copper, mercury, silver, gold, lead and aluminum are all found in varying concentrations in most of the electronic components. Proper collection and recycling of these metals will serve the purpose of new devices.
Electronic waste recycling has been majorly held by the informal sector that follows the manual recycling process. However, increasing awareness of the economic benefits is leading to the integration of technologies into management processes. A large number of e-waste recyclers are forming with a focus on eco-friendly recycling of e-waste. These companies are integrating the collection and processing chains, thus marking new opportunities in the market. The establishment of collection depots is enabling easier access to collect e-waste.
The recycled market is estimated to grow at a CAGR of 3.8% during the forecast period (2020-2027) to reach a market value of USD 12,563.0 million by 2027.
Recycled is estimated to account for a share of approximately 16.9% of the global e-waste management market by 2018 and is anticipated to decline to 16.1% by 2027.
Recycled E-waste is the reuse and reprocessing of electronic equipment of any type that has been discarded or regarded as obsolete. Recycling of e-waste is a growing trend and was initiated to protect human and environmental health mainly due to the widespread environmental pollution impacts of e-waste.
The disposal of e-scrap has become a key concern for developing as well as developed economies since health hazards associated with e-scrap landfill and incineration are considerable. Hence, the need to manage and recycle this waste is expected to emerge as a primary need for numerous nations worldwide, which, in turn, is expected to positively impact the growth of the e-waste management market.
According to the EPA, recycling one million laptops can save the energy equivalent of electricity that can run 3,657 U.S. households for a year. Recycling one million cell phones can also recover 75 pounds of gold, 772 pounds of silver, 35,274 pounds of copper, and 33 pounds of palladium.
The recycled market is estimated to grow at a CAGR of 3.8% during the forecast period (2020-2027) to reach a market value of USD 12,563.0 million by 2027. Recycled is estimated to account for a share of approximately 16.9% of the global e-waste management market by 2018 and is anticipated to decline to 16.1% by 2027.
Recycled E-waste is the reuse and reprocessing of electronic equipment of any type that has been discarded or regarded as obsolete. Recycling of e-waste is a growing trend and was initiated to protect human and environmental health mainly due to the widespread environmental pollution impacts of e-waste. The disposal of e-scrap has become a key concern for developing as well as developed economies since health hazards associated with e-scrap landfill and incineration are considerable. Hence, the need to manage and recycle this waste is expected to emerge as a primary need for numerous nations worldwide, which, in turn, is expected to positively impact the growth of the e-waste management market.
According to the EPA, recycling one million laptops can save the energy equivalent of electricity that can run 3,657 U.S. households for a year. Recycling one million cell phones can also recover 75 pounds of gold, 772 pounds of silver, 35,274 pounds of copper, and 33 pounds of palladium.
The global e-waste management market is highly regulated in the context of recyclers that operate e-recycling facilities. The toxic effects of electronic waste led to stringent safety requirements for plants. In the U.S., electronic waste management is handled by the Environmental Protection Agency (EPA) and regulates the business of e-recyclers in the country. All the e-waste recyclers operating in the country are mandated to meet specific standards commissioned towards the management and safety of electronics. Also, data security is another key issue associated with the handling of e-waste generated from communication and information devices. Data devices such as disk drives, wearable electronics, media tapes, and laptops are loaded with data, and handling of these devices to e-recyclers is a challenging task. Thus, the recycling companies are required to comply with data security policies. WEEELABEX, Responsible Recycling (R2), NSF International Strategic Registrations (NSF-ISR), and e-Stewards are some of the major certification standards existing in the e-waste management market.
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