Published: Jun, 2017
On account of having only a handful of market players. The global electronic scrap recycling market exhibits a highly consolidated vendor landscape. Despite this, the market is unlikely to witness any less competition as prominent vendors rival on back of regional footprint and product-differentiation, Transparency Market Research (TMR) reports in a new study. In case in point could be LS-Nikko Copper, Inc., which commenced its first U.S. liaison office in Fresno, California, and later expanding across a wide regional network as it believed in attaining competitive edge through geographic expansion. Today, LS-Nikko Copper has its business spread across Indonesia, Brazil, Argentina, Chile, Peru, and several other countries.
Besides this, the electronic scrap recycling companies are also focusing on innovation. For instance, Umicore N.V. signed a novel processing standard for copper bearing and precious metal waste in September 2014. The new standard is likely to improve the overall performance of recycling chain, therefore, preventing illegal use of inefficient technologies. Some other prominent vendors in the market are Boliden Group, Mitsubishi Materials USA Corporation, and Dowa Holdings Co., Ltd.
Overall driven by strategies adopted by the market players, and various other factors, the global electronic scrap recycling market is forecast to exhibit a CAGR of 15.7% between 2015 and 2022. At this pace, the market’s valuation is expected to reach US$34.22 bn by the end of 2022, from US$11.03 bn in 2014. Based on metal extracted, the ferrous metal segment emerged dominant in terms of volume, holding nearly 40% of the global electronic scrap recycling market in 2014. Regionally, Europe led the global market with a dominant share of 29% in the same year.
Rising Demand for Advancements in Electronic Products to Fuel Market Opportunities
Besides the surging demand for electronic products, innovations in the industry, which are shortening the usability span of electronic devices and gadgets, have provided significant impetus to the global electronic scrap recycling market. In addition, the global electronic scrap recycling market is expected to benefit from stringent regulations implemented by governments aimed at preventing environmental hazards. Policies undertaken by them to promote e-waste recycling will tip scales in favor of the electronic scrap recycling market as well.
Electronic recycling allows eliminating environmental and health hazards often instigated by indiscriminate disposal of e-wastes. A recent finding by the U.S. Federal Environmental Protection agency (EPA), nearly 4 million tons of e-waste are disposed every year in landfills. Furthermore, there are forecasts of this volume to rise even more in the coming years. “Substances such as cadmium, mercury, lead, antimony, and arsenic are present in the waste in substantial amount. When disposed in landfills, these e-wastes can contaminate soil and water and cause health problems,” said a lead TMR analyst. “Recycling e-waste on the other hand considerably minimizes the chances of these materials causing health or environment hazards,” he added. Rising concerns of managing staggering volumes of e-waste will therefore boost the uptake of electronic scrap recycling.
Limited Awareness and Technical Barriers Pose Threat to Market
On the downside, the market is reeling under limited awareness across developed and developing nations. Moreover, high cost required for the initial setup of recycling plants and other technical barriers are inhibiting the market’s trajectory as well. Nevertheless, rapid expansion of consumer electronics sector in emerging nations and focus on recycling the unprocessed electronic waste will continue creating lucrative prospects for the global electronic scrap recycling market even in the forthcoming years.
This review is based on a TMR report, titled “Electronic Scrap Recycling Market (Type of Metals Extracted - Ferrous, Non-ferrous and Precious Metals; E-scrap Generation - Office, IT Equipment and Handheld Devices, Large White Goods, Small Household Appliances and Other Appliances) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022.”
The report segments the global electronic strap recycling market as:
Electronic Scrap Recycling Market Analysis, by Metals Extracted (Revenue and Volume)
Electronic Scrap Generation Market Analysis, by Type of Product (Volume)
- IT, office equipment and handheld devices
- Large White Goods
- Small home appliances
In addition, the report provides cross sectional analysis of the electronic scrap recycling market with respect to following geographical segments (Revenue and Volume):
- North America
- Middle East and Africa (MEA)
- Latin America
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