With the growing technological advancements, the world has seen a massive growth in the number of electrical and electronic devices production. In order to stay relevant in the market and also tackle the growing competition, the replacement cycle of these electronic equipment has become considerably small. This has given rise to a massive e-waste problem across the globe. There has been a growing cry for more efficient disposal, recycling, and reuse techniques. This has thus acted as the primary driver for the development of the global e-waste recycling and reuse services market.
Global E-waste Recycling and Reuse Services Market – Competitive Analysis
The competitive landscape of the global e-waste recycling and reuse services market is highly fragmented one because of the presence of several key players. The leading companies in the global market are constantly striving to develop more sustainable techniques that will help the environment and will result in more efficient recycling and reusing of e-waste. In addition to this, they are also concentrating on mergers, joint ventures, strategic partnerships, and takeovers in order to stay more relevant in the global market.
Some of the leading companies that are operating in the global e-waste recycling and reuse services market include names such as Global Electric Electronic Processing Inc., SIMS Recycling Ltd., MBA Polymers Inc., Cimelia Resource Recovery, Tectonics Ltd., and CRT Recycling among others.
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Global E-waste Recycling and Reuse Services Market – Drivers and Restraints
In recent years, the world has seen a massive upsurge in the information society. The growth has been achieved at a break-neck speed and is characterized by massive technological advancements that are fueling social as well as economic development. This has ultimately led to an overgrown ownership of ICT devices per individual across the globe. Moreover, with fast paced technological advancements, the replacement cycles of these electronic devices have become considerably shorter.
Furthermore, with a considerable rise in disposable income and ever improving standard of living, there has been an unprecedented spend on electrical and electronic devices. All these factors are responsible for generating increasing amount of e-waste. This has thus worked in favor of the development of global e-waste recycling and reuse services market. With increasing levels of e-waste there have been several cases of improper disposal and treatment of this e-waste through incineration or landfilling. This improper treatment of e-waste is posing a huge risk to human health. This has thus given rise to increasing demand for proper collection and disposable techniques to recycle e-waste. Naturally, it has helped in the overall development of the global e-waste recycling and reuse services market.
Global E-waste Recycling and Reuse Services Market – Geographical Outlook
There are five main regions that divide the global e-waste recycling and reuse services market. These regions are Europe, Asia Pacific, Latin America, Middle East and Africa, and North America. Among these, the global e-waste recycling and reuse services is currently led by the segment of Europe. In terms of contribution, Europe has been the largest regional segment in recent years and is expected to continue to dominate in the coming years of the forecast period. In 2017, Europe registered the largest e-waste collection rate. This growth of the Europe market is largely down to the strict rules and mandates regarding e-waste collection and recycling. In addition to this, clear mandates about the e-waste measurable collection and the robust recycling infrastructure in the region is also helping to drive the development of the e-waste recycling and reuse services market in Europe.
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However, the regional segment of Asia Pacific is expected to emerge as the most promising regional segment in the coming years of the forecast period. With the growing number of value chain participants including re-furbishers, recyclers, material processors, de-manufacturers, and collectors among others, the development of the regional market is expected to shoot up considerably in the near future.
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