With the increasing usage of electronic products across the world, the global market for electronic scrap recycling is experiencing a significant upswing in its valuation. According to Transparency Market Research (TMR), the overall opportunity in this market was US$11.03 bn in 2014. Rising at a CAGR of 15.70% between 2015 and 2022, the market is likely to touch US$34.32 bn by 2022 end.
In this blog post, analysts at TMR are answering some of the important queries about the global market for electronic scrap recycling:
What are the main factors that will influence the global electronic scrap recycling market in the near future?
The increasing awareness among consumers about the conservation of energy and their resources and the economic benefits of e-waste recycling is one of the main factor that is boosting the growth of this market substantially. Another one is the implementation of strict rules and regulations by various governments regarding the collection and the processing of e-waste. The increasing number of initiatives for the prevention of health and environmental hazards is also propelling this market significantly across the world.
On the other hand, the high capital investments involved in recycling process and various technical blocks to the producing and refining processes may hamper the growth of this market to some extent in the years to come.
Which of the regional markets for electronic scrap recycling is likely to lead the global market in the coming years?
In terms of the geography, Europe has emerged as the leading regional market for electronic scrap recycling across the world and it is projected to remain dominant over the next few years. In 2014, Europe held a share of nearly 30% in the global market. Asia Pacific, on the other hand, is anticipated to offer most promising growth opportunities in the near future. This region has ample growth opportunities for the market for electronic scrap recycling, especially in China, South Korea, Australia, Japan, India, and Singapore.
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South Korea, China, and Japan have surfaced as the leading domestic markets for electronic scrap recycling in this Asia Pacific, thanks to the rapid industrialization and constant advancements in the technology. The rising awareness about the dangerous effects of e-waste on health, environment, and the potential value of the resources within e-waste is likely to stimulate the growth of the market for electronic scrap recycling in Asia Pacific over the next few years.
What is the nature of the competitive landscape of the global electronic scrap recycling market?
The competitive landscape in the global market for electronic scrap recycling is highly consolidated, with a small pool of companies leading the global market. Players are increasingly focusing on regional expansion of their businesses in an effort to strengthen their positions in the global market and gain a competitive edge over their rivals. The leading companies are also working towards establishing a wide geographical network in order to increase their reach even to remote areas.