Need for constant recycling of electronic products’ waste to avoid environmental contamination is expected to drive the e-waste management market over the forecast period. Substantial technological development in electronics has resulted in the launch of new gadgets and appliances at a very high rate. Upgraded versions of existing products such as mobile phones and laptops flood the market on a regular basis resulting in rapid replacement of the previous versions. Increased consumer buying power has led to a decrease in electronic products’ shelf life, which has compounded the problem of accumulation of e-waste.
According to the United Nation’s (UN’s) Step initiative, global e-waste volume is expected to increase by over 30% from 2013 to 2017. Electronic goods are comprised of several materials containing toxic substances such as mercury, lead, arsenic, cadmium, and flame retardants. Dumping goods results in seepage of toxic material into the environment, thereby contaminating land, air, and water. Economically backward countries in Asia and Africa are offered enormous monetary benefits for accepting e-waste originating from developed countries such as the U.S. and UK.
There has been an increased emphasis on efficient recycling and reuse of electronic products’ components. Health hazards posed by the seepage of toxic materials into the environment have augmented e-waste management techniques’ demand. The European Union (EU) has mandated all electronic goods producers to undertake the responsibility of end-of-life products’ disposal. Some of these regulations include Basel Convention, RoHS, and WEEE directive. E-waste management programs also help in job creation and impart technological knowledge, thereby helping in poverty alleviation and improved health conditions. High costs incurred during recycling are expected to deter the e-waste management market. Lack of waste collection centers hampers e-waste management programs.
Key participants in the global e-waste management market include Desco Electronic Recyclers, Electronic Recyclers International, MRI (Australia) Pty Ltd., E-Waste Systems, E-Waste Harvesters, Electronic Waste Management, Sims Recycling Ltd., and Waste Management Inc.
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