The global green and recycled mobile phone market is expected to grow at a CAGR of more than 15% during the forecast period, according to Technavio’s latest market research.
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Technavio has published a new report on the global green and recycled mobile phone market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global green and recycled mobile phone market for 2017-2021. The market is further categorized into two major segments based on material, which includes plastics and metals, of which the plastics segment accounted for more than 40% of the market share in 2016.
“The increasing environmental awareness coupled with governmental regulations is likely to fuel the market over the forecast period. There are companies who buy used or damaged mobile phones. Such phones are dismantled and checked if they can be reused. Usually making minor changes in the components is enough to restore the mobile phone. This method can significantly reduce the volumes of e-waste generated,” says Anju Ajaykumar, a lead analyst at Technavio for water and waste management research.
Technavio’s research analysts segment the global green and recycled mobile phone market into the following regions:
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Green and recycled mobile phone market in APAC
China generates the maximum e-waste in APAC. The increased volume of e-waste is exported to Africa and Asia under false pretenses. Some of the countries that are major dumping grounds for e-waste are Ghana, Nigeria, India, Pakistan, and Vietnam. Sometimes, non-functional e-waste is exported, categorized as used goods to save the associated recycling costs. The treatment or recycling of e-waste in developing countries generally occurs in the informal sector, which leads to increased environmental pollution and health risks.
Informal activities in the e-waste recycling chain are present in many developing countries.
“Japan has taken the initiative to donate unused mobile phones that are expected to be recycled into medals for the Olympic games in 2020. Gold, silver, and bronze are expected to be extracted from mobile phones to make around 5,000 medals for the Olympics and Paralympics games,” says Anju.
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Green and recycled mobile phone market in Americas
Developed nations, such as the US, are exporting most of the e-waste generated to developing nations for dumping into landfills. With the rising demand for technology and electronics, the generated e-waste per year is increasing. Also, the shelf life of such devices is shortening as technology is evolving each year.
Several agencies, such as the US Environmental protection agency (EPA), promote the recycling of e-waste, including mobile phones. The main reason for exporting e-waste overseas is the low labor cost and reduced regulatory issues. Handling the waste generated by mobile phones domestically will require high capital costs and labor. In addition, ensuring the safety of the personnel involved in the recycling and refurbishing of e-waste will lead to additional costs.
Green and recycled mobile phone market in EMEA
As government legislation is tightening and aiming to reduce e-waste entering landfill sites in Europe, companies are focusing on developing better approaches for surplus waste disposal. The proposed models for reduction of e-waste include resource conservative manufacturing that involves the replacement of damaged, obsolete, and expired components of mobile devices, thereby increasing their lifecycle. It also involves increasing efficient waste collection to enhance the recycling of valuable materials and components.
The Middle East lacks comprehensive legislation that addresses the issue of e-waste management. The government is turning to private players to curb the rising challenge of e-waste management. The rising awareness regarding environmental pollution and associated health concerns have led private and public players to take initiatives that aid in reducing the amount of e-waste sent to the landfill. This will lead to an increase in demand for recycled or refurbished mobile phones.
The top vendors in the global green and recycled mobile phone market as highlighted in this market research analysis are:
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