Global PCB E-Scrap Market To Witness 7.3% CAGR Growth
The rapid pace of urbanization in many developing economies in the region is likely to remain as the key factor of vastly expanding e-scrap and PCB e-scrap market.
SEATTLE (Scrap Monster): A new research report published by Transparency Market Research (TMR) suggests that global printed circuit board (PCB) e-scrap market is likely to register a CAGR growth of 7.3% during the period from 2016 to 2026.
According to the report, global PCB e-scrap market was valued at 1.46 million tons in 2015. At the projected pace, the market is estimated to touch 3.14 million tons by the end of 2026. Also, the global e-scrap market is projected to see a CAGR growth of 5.6% during this period. It must be noted that the global e-scrap market was valued at $55.34 billion in 2015.
Household appliances, IT and Telecommunication products and entertainment devices are the primary sources of e-scrap as well as PCB e-scrap. Among these, household items are the most dominant source, mainly due to rapidly rising rate of disposal of electronic items across households. Asia Pacific, the most prevailing market, is projected to touch $33.5 billion by 2026. The key countries to lead the growth in the region are China, Japan, India, South Korea and Australia.
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The rapid pace of urbanization in many developing economies in the region is likely to remain as the key factor of vastly expanding e-scrap and PCB e-scrap market. The notable rise in use of copper in various sectors such as construction and telecommunication too has led to increased recycling of e-scrap and PCB e-scrap. However, lack of proper awareness about the health and environmental issues in connection with recycling of the above may hamper the market growth, the report said.