E-scrap recyclers potential for ‘huge profits’
The worldwide electronic scrap recycling market will be worth over US$ 34 billion (EUR 30 billion) by 2022, according to research firm Transparency Market Research.
The global e-scrap industry was valued at US$ 11 billion in 2014 and the market analysts expect a compound annual growth rate of 15.7% from 2015 to 2022. Precious metals recycling is projected to increase 11.2% in this period.
Europe remains the biggest market. Growth in European counties will mostly be driven by strict government regulations and the likely ‘huge profits’ generated through the recovery of precious metals from electronic scrap.
Around 20-50 million tonnes of e-scrap are generated every year globally, so states the UN Environment Programme. Volumes are said to be increasing three times faster than other types of municipal wastes. Expanding markets and product innovation such as the switch from analogue to digital technologies primarily is fuelling this.
Large white goods account for the largest volume share of around 50% of the overall electronic scrap generated worldwide. However, sales of small home appliances are likely to see the fastest growth.