The need for electronic scrap recycling is rising in response to the progressively shorter lifespan of electronic products and stringent government regulations governing the collection and processing of electronic waste (e-waste). The global electronic scrap recycling market is anticipated to expand at a CAGR of 7.2% by volume during the forecast period from 2015 to 2022. Disposal or landfilling of e-waste raises serious health and environmental issues. On the contrary, its recycling proves to be a feasible solution for the elimination of its harmful effects.
E-waste consists of unwanted or broken electronic or electrical devices, and peripherals such as smartphones, televisions, laptops, refrigerators, computers, printers and other electronic products. The ever-rising problem of e-waste is being solved with the use of electronic recycling. Most electronic products are made up of metals, which are recyclable.
The dismantling and recycling of end-of-life electronic products promotes the conservation of undamaged natural resources. Moreover, electronic recycling helps in minimizing the air and water pollution that is common in the disposal and landfilling of e-waste. Electronic recycling consists of three main processes: collection, pre-processing, and end-processing. The overall electronic scrap market was valued at US$ 11.03 Bn in 2014.
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The key drivers of the market include increased use of electronic products and shorter product lifecycle, prevention of environmental and health hazards, stringent regulation governing the collection and processing of e-waste and economic advantages of e-waste recycling. One of the key advantages of electronic recycling is the elimination of environmental and health hazards instigated by the disposal of e-waste in landfills.