Global Electronics Recycling Market: Overview
Rapid technological progress coupled with rising purchase ability of people, the global Electronics Recycling Market is likely to witness growth over the tenure of assessment. In addition, rise in the capacity of user interface of various electronic products is likely to boost the market. Extensive use of electronic products has invariably led to the accumulation of electronic waste over time. According to a report by the U.N, nearly 20 million to 50 million tones of electronic waste is produced across the globe. Only a very less part of it, around 20%, is recycled. The electronic waste generated annually is worth more than US$62.5 billion, which is more than the GDP of most of the nations in the world.
Of late, electronic waste has come up as one of the leading threats for the environment. The waste thus generated from electronic products pollutes water, soil, and air. Electronic waste is a highly toxic substance that contains arsenic, lead, mercury, cadmium, and various other harmful substances.
Based on three different parameters, the global electronics recycling market has been segmented. These parameters are type, source, and region.
Looking for Regional Analysis or Competitive Landscape in Electronics Recycling market, ask for a customized report
Global Electronics Recycling Market: Notable Developments
One of the recent market developments related to the global electronics recycling market is as mentioned below:
- In May 2019, Aurubis AG penned an agreement to acquire Metallo Group, Belgium-based recycling and refining company. Post acquisition, it is expected that the recycling portfolio of Aurubis AG will be widened. The innovative technological solutions from the Metallo Group will strengthen the recycling strategy of Aurubis AG.
Some well-known organizations in the global electronics recycling market comprise the below-mentioned:
- Aurubis AG
- Cimelia Resource Recovery Pte Ltd
- Sims Metal Management Limited
- Zak Enterprises
- Enviro-Hub Holdings Ltd
- Good Point Recycling
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Global Electronics Recycling Market: Key Trends
The below-mentioned restraints, opportunities, and drivers characterize the global electronics recycling market during the assessment period, from 2019 to 2027.
Increased Accumulation of Electronic Waste to Boost the Market
The increasing demand for electronic products has led to augmented production of such gadgets. Rapid evolution in the technology of electronic products makes them more attractive for the customers. Once the life cycle of an electronic product is completed, i.e. when it stops functioning and can no longer be repaired for use, it is disposed of. Such a device then becomes an electronic waste. When electronic waste comes directly in contact with nature, it can leave hazardous effect on the nature and destroy ecological balance. Such factors are likely to stimulate growth of the global electronics recycling market in the years to come.
Recyclable electronic waste does not take all of the electronic waste into account, though recycling of such wastes is strictly needed. Various recyclable devices comprise cell phones, laptops, televisions, computers, shredders, vacuum cleaners, fax machines, and so on. However, not all electronic products can be recycled.
Rise in the disposable income of people together with inclination to spend on various electronic consumer products is leading to such increased accumulation of electronic waste all over the world. As such, there lies immense potential for the global electronics recycling market in years to come. Furthermore, growing awareness about recycling of electronic waste is expected to foster growth of the global electronics recycling market in times to come.
Global Electronics Recycling Market: Geographical Analysis
The global electronics recycling market is likely to be dominated by Europe. The region is likely to retain its dominance over the tenure of assessment. Growth of the region is attributed to the strict legal regulations and directives regarding the recycle and reuse of electronic waste. Europe is likely to be closely followed by North America.
Asia Pacific is another region that is likely to rise to prominence rapidly following increasing awareness about the benefits of recycling of electronic waste.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.