Companies Supporting Asia Pacific E-Scrap Recycling Regime to Gain Profits
After Europe, Asia Pacific is projected to maintain its position as the second-highest region in terms of recycling volume, with an estimated output of ~5,200 thousand metric tons in the e-scrap recycling market by the year 2027. Since India is one of the rapidly developing economies in Asia Pacific, manufacturers are increasing their focus in the region. As such, there is growing demand for a well-designed and well-regulated e-waste recovery regime in India, as the country is highly deficient in terms of precious metals. Hence, companies in the electronic scrap recycling market can tap into incremental opportunities in India and gain profits, as labor is relatively cheaper in comparison with developed economies.
According to the Global E-Waste Monitor 2017, India generates ~2 million tons of electronic waste, annually, and ranks fifth amongst the e-waste producing countries on a global level. A significant amount of e-waste either goes to landfills or is recycled in a crude manner at informal recycling installations. Thus, companies in the e-scrap recycling market are complying with the Extended Producer Responsibility (EPR) guidelines of environmental commissions in India to ensure the take-back of end-of-life products.
Get Sample Copy:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=73924
Recycling Precious Metals Leads to Untapped Opportunities in Product Offerings
With the influx of digitization, an increasing number of individuals are purchasing intelligent electronic devices such as smartphones and gadgets. Thus, the increasing adoption of electronic devices has created a load on companies in the e-scrap recycling market to ensure the safe recycling of devices while abiding to the regulations laid down by various governments.
As such, companies in the electronic scrap recycling market are gaining headway out of the situation in acquiring precious metals from discarded electronic devices. Since electronic devices contain components made from precious metals such as silver, copper, gold, and palladium, companies are recovering these metals to develop other new consumer products. For instance, key players are eyeing the 2020 Tokyo Olympics, as the organizing committee is planning to make medals out of e-waste.
Metal in the e-scrap recycling market is projected to account for the highest revenue, with a value of ~US$ 17.6 billion by the end of 2027. This is why, companies are teaming up with device manufacturers to develop new products from e-scrap, as developing products from virgin sources leads to an increased carbon footprint.
Grab an exclusive PDF Brochure of this report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=73924
Collaborating with Non-profit Trade Associations Helps Companies
Companies in the e-scrap recycling market are facing several challenges that are negatively affecting market growth. Exporting e-waste to developing countries leads to health risks for workers who dismantle electronic devices involving hazardous and toxic materials. Inefficient recycling infrastructure in developing countries has led to numerous health and environmental concerns.
Although the volume of e-waste is multiplying, the quality of e-waste is getting affected, as devices are becoming smaller and smaller as a result of product developments. As a result, these products contain very little amounts of precious metals, which is lowering the value of materials in the e-scrap recycling market. Hence, companies in the e-scrap recycling market are collaborating with non-profit trade associations such as ISRI (Institute of Scrap Recycling Industries) to increase awareness about e-waste recycling challenges, and are participating in developmental programs to formulate strategies.
Global E-Scrap Recycling Market: Overview
- According to Transparency Market Research’s latest market report on the global e-scrap (electronic scrap) recycling market for the period of 2019–2027 (wherein, 2019 to 2027 is the forecast period and 2018 is the base year), increase in the demand for electronic devices, coupled with stringent laws implemented to avoid adverse environmental impacts, is anticipated to propel the e-scrap recycling market, worldwide.
- In the report, revenue generated by the global e-scrap recycling market has been mentioned in terms of value (US$ Mn) and volume (thousand metric tons) throughout the forecast period.
- The global e-scrap recycling market is projected to grow at a CAGR of ~7% throughout the forecast period, from a value of ~US$ 14.4 Bn in 2018 to ~US$ 26 Bn by the year 2027.
Increased Use of Electronic Products and Shorter Product Lifecycle: A Key Driver
- The demand for electronic and electrical equipment has risen drastically with advancements in technology. Persistent innovations in electronic and electrical technologies have further shortened the life of electronics and electrical products.
- E-scrap primarily comprises laptops, computers, mobile phones, television sets, and other electrical or electronic household appliances. The global production of e-scrap is increasing rapidly, and it is expected to continue to grow in the coming years.
- Additionally, the presence of various precious metals such as gold, silver, palladium, tantalum, and gallium makes e-waste attractive for recycling. Thus, most companies in the field are switching to the electronics recycling business, thus boosting the e-scrap recycling market.
E-Scrap Recycling Market: Stringent Laws Implemented to Avoid Adverse Environmental Impact
- One of the key advantages of electronic recycling is the elimination of environmental and health hazards prompted by the disposal of e-scrap in landfills. E-scrap contains substantial amount of toxic and non-biodegradable substances such as lead, mercury, cadmium, arsenic, and antimony.
- When e-scrap is disposed in landfills, these toxic substances contaminate the water and soil, resulting in health problems. Recycling e-scrap minimizes its propensity to cause health and environmental hazards.
- Rise in awareness among electric and electronic product users about the environmental issues faced by landfills is expected to drive the e-scrap recycling market in the coming years.
- The hazardous effects of e-scrap and stringent government regulations to prevent improper disposal make electronic scrap one of the fastest growing recycling segments.
- Thus, stringent regulations pertaining to environmentally-friendly processing of e-scrap drives the e-scrap recycling market.
E-Scrap Recycling Market: High Cost of Recycling Process – Key Restraining Factor
- The major challenge faced by the e-scrap recycling market is the procurement and transportation of e-scrap that comes from major e-scrap generators, including the government and various private sector organizations.
- Sorting, recycling, and distribution of the plastic content in electronic devices may result in major issues owing to the presence of a wide range of plastic resins used in consumer electronics, which entails additional time and cost for sorting.
- The need for advanced technology and the additional cost in the maintenance of e-scrap recycling devices is a concern raised by manufacturers, which is considered to be a drawback for the electronic scrap recycling market space.
Targeting Untapped E-Scrap Recycling Markets: Key Opportunity
- Over the past decade, the use of electrical and electronic equipment by both, consumers and businesses has grown rapidly. Presently, there is a disproportionately small number of recycling facilities available to process the e-waste generated. Most recycling and smelting facilities are located in Europe, North America, and parts of Asia Pacific.
- However, untapped regions such as the Middle East, Africa, South America, and other parts of Asia Pacific have significant opportunity.
- Existing companies in the smelting and recycling business can focus on untapped regions for economic benefits. These untapped areas also provide opportunities for new players to enter the recycling business.
Trans-boundary Movement of E-Scrap: Key Trend in E-Scrap Recycling Market
- Several international agreements such as the Organisation for Economic Cooperation and Development (OECD), the Basel Convention, council decision, and bilateral agreements between the United States and Canada, Mexico, Costa Rica, Malaysia, and the Philippines are monitoring the export-import practices of e-scrap across the globe.
- Valuable materials such as copper, platinum, silver, gold, palladium, tantalum, and gallium have become a major source of income for buyers. This has resulted in the trans-boundary movement of e-scrap. Rise in the trans-boundary movement of e-scrap and awareness about the value of precious metals have resulted in advanced tracking systems and technology such as phone trackers, commercial trackers, international traces, and Basel Action Network (BAN) deployed traces.
Increased Use of Electronic Products: Another Key Trend in E-Scrap Recycling Market
- E-scrap primarily comprises laptops, computers, mobile phones, television sets, and other household appliances. Electronic and electrical equipment with advanced technology have limited service life. This has increased the supply of electronic and electrical equipment.
- According to the UN Environment Programme (UNEP), around 20-50 million tons of e-scrap is generated every year, globally, and volumes are increasing threefold faster than other forms of municipal waste. The global production of e-waste is increasing rapidly, and is expected to pick up pace in the coming years, as it is hazardous and needs to be processed carefully.
Read TMR Research Methodology @:
https://www.transparencymarketresearch.com/methodology.html
E-Scrap Recycling Market: Competition landscape
- Detailed profiles of manufacturers in the electronic scrap recycling market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the global e-scrap recycling market include:
- JX Nippon Mining and
- Metal Corporation,
- Umicore N.V.,
- DOWA HOLDINGS Co., Ltd.,
- Sims Metal Management, and
- Stena Metall AB.
E-Scrap Recycling Market: Other Key Developments
- Companies such as JX Nippon Mining and Metal Corporation are emphasizing on increasing their distribution capacity by the stable processing of recycled materials through the development of physical sorting technology, cost reduction, and other initiatives to strengthen their business.
- Umicore N.V. is focusing on long-term profitability and growth by investing in R&D to upgrade its clean technologies such as emission control catalysts, and materials for rechargeable batteries and recycling.
- DOWA HOLDINGS Co., Ltd is positioning itself as one of the top players in Asia, and accelerating growth in its existing business by offering attractive services to end users in new e-scrap recycling markets.
- Sims Metal Management is planning to strengthen its core business by enhancing operational efficiencies. In addition, the company is emphasizing on acquiring key players across the globe to remain competitive in the recycling service industry.
- ITRenew, Inc. is planning to expand its business across the globe by collaborating with key IT players across the globe for data wiping software and IT asset disposition services.
Read Our Latest Press Release:
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Contact
Transparency Market Research State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
