Technological advancements and shorter product life cycles have resulted in an increase in e-waste
- Product development, launch, growth, maturity and disposal or recycling are all steps in the normal life cycle of an electronic product. The end of an electrical product's life cycle, technological advancements, or changing consumer demands contribute to recycling.
- New electronic devices and improved versions of old products, such as laptops, mobile phones and televisions, are created due to rapid technological breakthroughs.
- Similarly, as individuals' purchasing power grows, so does the shelf life of technological devices. New models of mobile phones and other electronic items are released every year end the older versions are either discarded or sold for reuse on websites.
- As the life cycle of electronic products shortens, more and more e-waste is produced. This build-up of electronic trash necessitates the recycling of electronic products, which necessitates electronic waste management.
- Since the debut of PCs and mobile phones, the average lifespan of consumer products and the parts that go into them has been gradually reducing.
- Electronics, which were once anticipated to last 40 years or more, now have an average lifespan of 1.5 to 13 years, with the majority lasting 4 to 5 years.
Government initiatives to curb unlawful dumping
- The global market is growing as a result of proactive government initiatives to combat illegal dumping. Furthermore, worldwide population expansion and globalization have increased overall waste volume. In 2012, the urban population generated approximately 1.3 billion tons of municipal solid waste (MSW), predicted to increase to 2.2 billion tons by 2025.
- Furthermore, increased industrialization in growing economies such as India, China and Taiwan has resulted in the development of chemical, oil and gas, automobile and medical businesses, all of which produce massive amounts of trash and pollute the environment.
- During the projection period, rising awareness of waste management solutions among the general public and government agencies and an increased necessity to create waste-to-energy solutions are projected to provide attractive growth possibilities for market players.
- As, a result of these prospects, various waste management firms have implemented company expansion, acquisitions, agreements and partnerships to provide better services in the market. These variables are projected to have a substantial impact on the worldwide market's growth.
- The European Union imposes Landfill fines. For example, the European Court of Justice ordered Italy to pay 40 million euros (US$ 49.7 million) on Tuesday for failing to address unlawful rubbish disposal in 2014.
- Various objectives have been set for EU countries in terms of waste management; for instance, by 2020, household waste products (such as paper, metal, plastic and glass) must be prepared for reuse and recycled at a rate of at least 50% by weight.
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