Published on : Jun 23, 2016
Electronic waste across the globe has been exponentially growing, thereby causing insurmountable number of problems. From harming the environment to growing dumps of non-biodegradable waste materials, the rising issue of electronic waste has drawn attention of several players. Some of the top players operating in this market such as Dlubak Glass Company, AERC Recycling Solutions, Eco-Tech Environmental Services Inc., CRT Recycling Ltd., and American Retroworks Inc. are all developing efficient means refurbish the functional components found in the electric equipment. All of these factors have given birth to the remunerative global electronic recycling market in the past few years.
Environmental Concerns to Drive Overall Market
The increasing environmental concerns and the efforts taken by the governments to minimize the hazardous impact of electronic waste are driving the global market. Furthermore, the relentless initiatives of non-profit organizations are also anticipated give this market a considerable boost. The rise of this market will also be due to the increasing awareness about eco-friendly products.
Shrinking Lives of Electronic Goods to Propel Overall Market
Some of the other factors propelling the global electronic recycling market are the shrinking self-lives of electronic products, effective implementation of environment sustainability programs, and usage of rare earth metals in electronic products. The factors acting as impediments to the overall market are poor understanding of recycling amongst consumers, lack of education about potential dangers of electronic waste.
Europe to Lead the Global Market
Currently, Europe is leading the overall electronic recycling market with North America following its lead closely. Europe holds a significant share in the overall market due to the stringent laws governing the region and their effective implementation. However, South Africa is expected to contribute to the overall market in the coming years by a noteworthy number as developing countries such as China and India are using it as a dumping ground.