Stringent E-Waste Regulations And Mechanisms Drives The Global Electronics Recycling Market, According To New Report By Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Electronics Recycling markets. The global market for Electronics Recycling is forecast to reach US$34.5 billion by the year 2018, buoyed by growing awareness for recycling and eco-friendly waste disposal practices, enforcement of strict Government regulations and initiatives in both developed as well as developing countries. Higher redundancy of electronic devices and equipment on account of technological obsolescence will underscore the urgent need for proper collection, recycling, and recovery of hazardous electronic waste.
San Jose, California (PRWEB) - Follow us on LinkedIn – On a global scale, the method of handling, discarding electronic components and products could represent either a huge potential economic windfall or a key environmental dilemma. An estimated 82% of the total e-waste generated goes unrecycled, with over 3 million tons entering the waste stream in 2008. The municipal solid waste (MSW) stream flooded with e-waste generated from large quantity of electronic devices. Accumulation of electronic device waste materials such as plastics, metals and silica, is leading to over capacity of incinerators and landfills. The problem is fuelled by rapid advancements in technology, faster replacement cycles, and greater availability of recycled and new devices.
Concerns regarding resource conservation, presence of toxic materials and proper disposal management are promoting rapid growth in the global Electronics Recycling market. Uncontrolled disposal, dismantling, and burning are major environmental issues that are associated with recycling. These often lead to surface water pollution, atmospheric pollution, and groundwater contamination, in addition to causing health and occupational safety hazards mainly resulting from the indirect and direct exposure to toxic elements in recycling plants. PVC, heavy metals (lead, mercury, cadmium, etc.), brominated flame retardants, and gases are some of the toxic compounds present in the e-waste. Such electric and electronic wastes, if properly treated, could be recycled or reclaimed for use in the future, and converted into novel revenue stream.
Reuse and recycling of e-waste is expected to increase at a significant rate driven by environmental legislations and programs supporting environmental sustainability and corporate social responsibility. Consumers get little incentive to recycle or reuse already used electronic devices. In majority of the countries, disposing off e-waste is relatively inexpensive and easy. In many developing countries, feeble enforcement, inconsistent legislation and little control on recyclers resulted in inappropriate recycling and widespread dumping of hazardous e-waste. Strict Government regulations for management of e-waste are expected to benefit the market for e-waste recycling. Recycling and reuse of used electronics is encouraged by the US Environment Protection Agency (EPA). As a measure to encourage recycling of electrical and electronic products, the EPA imposes less stringent regulations for recycled and reused products in comparison to the products, which are disposed in hazardous manner. Several states in the US have also made electronics recovery programs mandatory. E-waste laws currently cover about 65% of US residents, with legislation mandating either the provision of recycling programs by manufacturers or prohibiting specific items as acceptable trash. The European Union (EU) also established a series of legal regulations and directives for enhancing the reuse, recovery and recycle of e-waste. Countries such as China and Japan are also actively participating in the formulation of regulations for e-waste management.
Electronic Waste from developed nations such as the US and Europe are often dumped in developing nations such as China, Thailand and India, where these wastes are recycled through conventional and crude methods. A major approach that would considerably deal with unacceptable recycling procedures would be banning of e-waste imports to developing countries. However, such bans have pushed the trade to black markets in several countries like China. Accumulation of huge tons of e-waste and scarcity of recycling procedures associated with the extraction of precious metals continue to be the prime concerns, especially in the developing nations as the e-waste consists of potentially hazardous materials. Restrictions of transboundary trade of e-waste from the developed to developing countries and mending of various loopholes in the e-waste diversion rates are all expected to promote local recycling and reuse activities.
Asia-Pacific, propped by rapid strides taken by several emerging markets of China, India, Philippines, Korea, Taiwan, and others, constitutes the largest and fastest growing regional market worldwide, as stated by the new research report on Electronics Recycling. E-waste represents one of the rapidly proliferating waste streams in India and China, as well as other emerging countries in the Asia-Pacific region. Growth is primarily driven by increasing e-waste recycling and collection rates; and integration of recycling markets in major Asian locations.
Metals represent the largest segment of the electronic recycling market. E-waste contains valuable materials such as palladium, platinum, silver and gold. Proper recycling and management of e-waste could yield huge quantities of precious raw materials and metals. One metric ton of e-waste generated from personal computers consists of more gold than the amount of gold recovered from nearly 17 metric tons of gold ore. Recovery of raw materials from e-waste could decrease the requirement for mining such metals.
Key players profiled in the report include AERC Recycling Solutions, American Retroworks Inc., CRT Recycling Ltd., Dlubak Glass Company, Eco International, Fortune Plastic & Metal, Inc., MBA Polymers, Inc., Sims Metal Management Limited, UniversalRecyclers.com, among others.
The research report titled “Electronics Recycling: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive market overview of, e-Waste market, environmental regulations, recycling market, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants. The report provides annual revenue estimates and projections for the years 2009 through 2018 in value (US$) terms for geographic markets including the US, Canada, Japan, Europe, Asia-Pacific and Rest of World markets. Key segments by material type analyzed include Metals and Others (Plastics and Silica).
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Electronics_Recycling_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
SOURCE: PRWeb
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