E-WASTE RECYCLING AND REUSE SERVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global E-waste Recycling and Reuse Services Market - Drivers

Limited shelf life of electronic products is expected to drive growth of the global e-waste recycling and reuse services market during the forecast period. All electric and electronic consumer products have limited shelf life, which depends upon the usage and the consequent wear and tear of these gadgets. The wear and tear of the products thus play a vital role in the shelf life. With the advent of technology and innovation, the average shelf life of all the white goods has become limited. The average shelf life of a mobile handset is around 18 months. The demand for mobile phones is growing, thus the sales are also increasing

High rate of obsolescence is expected to propel the global e-waste recycling and reuse services market growth over the forecast period. As previously mentioned, the average shelf life of cell phones is around 18 months. Since new products are being introduced on a regular basis, there over 500 million used cell phones ready for disposable. Similarly, every day a new and advanced gadget is being observed, owing to intense competition in the electronics market. An average consumer thus tends to switch to such a novel product. As a result, appliances like computers, refrigerators, etc. have a shorter period of obsolescence. This ultimately results in discarding the old appliances and thus a huge amount of e-waste is generated.

Market Opportunities

Growing interest by electronics manufacturers can provide major business opportunities in the global e-waste recycling and reuse services market. A vast amount of waste is generated during R&D and the manufacturing of electronic products. Many manufacturers have realized that recycling and reusing this waste will be advantageous. Mobile phones contain inorganic materials, metals, and plastic that can be recycled as part of sustainable e-waste management. Many major cell phone manufacturers thus have even started their individual campaigns to buyback the old cell phones from customers willing to upgrade their handsets. Many companies have started a novel campaign to reduce e-waste. For instance, companies such as Nokia and Sony repurchase their products from the consumers and recycle them further.

Increasing demand for information and communication technology (ICT) and consumer electronic products. Corporations and BPOs are constantly upgrading their computers and computer peripherals, which in turn, has increased the demand for ICT products. Currently, there is a rising trend of upgrading their existing gadgets such as cell phones. Technology has also played a crucial part in reducing the shelf life of electronics. People today have good purchasing power. This capacity is efficiently paired with the introduction of advanced consumer electronics and ICT items. Thus the demand for these items has increased like never before. As a result, the sales volume of these items has also significantly increased.

Global E-Waste Recycling and Reuse Services Market - Restraints

High cost of e-waste management is expected to hinder the global e-waste recycling and reuse services market growth over the forecast period. A large chunk of electronics are neither recycled nor disposed-off...