Over the last decade, the applications of electrical devices have been increasing significantly across the globe, especially in the information and communication sectors. Electronic devices such as smartphones and laptops have become a necessity today. Furthermore, the rise in disposable income of the people, growing urbanisation, and rapid industrialization in most parts of the world has promoted the use of electricals and electronic equipment. This ongoing trend is generating demand for electrical and electronic scrap at a massive rate, contributing to the e-scrap recycling market growth. Such aspects are likely to steer significant growth across the global e-scrap recycling market in the coming years.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/e-scrap-recycling-market
Stringent Regulations for Preserving Environmental Health from E-waste to Prolong Market Expansion
E-scrap contains elements such as lead, mercury, arsenic, antimony, and cadmium, which are non-biodegradable and hazardous to the environment. These elements then pollute the soil and water leading to potential health risks to humans and animals. Therefore, to avoid such risks to human and environmental health, e-scrap recycling activities are being promoted. Governments worldwide are formulating stringent norms to prevent the adverse impact of e-scrap on environment. Moreover, the rise in awareness apropos to landfills has further created pathways of growth for the e-scrap recycling market. Hence, the stringent regulations to prevent the improper disposal of e-waste are likely to create high growth potential for the e-scrap recycling market.
Plastic Recycling to Create Tremendous Headways for E-scrap Recycling Market Growth
The use of plastic has grown in the consumer electronics space and is among the most found element in e-waste. As a result, the recycling of plastic in the consumer electronic space and e-waste is likely to grow at an enormous rate. These plastic materials can be retrieved and sent for recycling. The recyclers can then use the plastic materials to manufacture products such as plastic vineyard stakes and sleepers. Additionally, the recycling of various kinds of plastic materials such as expanded polystyrene (EPS), high-impact polystyrene (HIPS), and acrylonitrile butadiene styrene (ABS), is likely to grow at record pace. Thus, plastic recycling is expected to bode well for the growth of the global e-scrap recycling market.
North America to Emerge as a Key Player Amid Growing Penetration of Technology
The rise in GDP per capita has resulted in increased use of advanced electronic devices in residential and commercial applications of North America. Moreover, with the advancement of healthcare sector such as telehealth and other technologies, the sale of smartphones has upsurged in developed countries such as Canada and the United States. As a result of this, the amount of e-scrap generated in the region has also grown. This in turn has propelled the growth of the e-scrap recycling market in the region.
Prominent Market Players
Some of the major players in the global e-scrap recycling market include Enviro-Hub Holdings Ltd., JX Nippon Mining and Metal Corporation, Electronic Recyclers International, DOWA HOLDINGS Co. Ltd., Umicore N.V., Stena Metall AB, Ecoreco Ltd., ITRenew Inc., and Sims Metal Management.
For More Information Visit: https://www.fairfieldmarketresearch.com/report/e-scrap-recycling-market
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.