E-Waste Recycling and Reuse Service Market Revenue Growth is Making Marketplace Explosive
Published Via 11Press : Electronic trash, end-of-life electronics, and e-scrap collection and handling are all included in the term “e-waste recycling & reuse service.” It includes any technical item that people want to throw away. This includes phones, computers, TVs, video gaming consoles, appliances, office supplies, and even certain industrial gear. recycling and reuse of electronic trash increasing service offerings of electronic enterprises may help them simultaneously satisfy critical environmental needs and create new revenue streams by closing the market gap in electronic device repair, collection, and recycling. SDG 12 targets ethical production and consumption.
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Businesses must use best practices throughout their value chain to protect and enhance the security of people and the environment. Extended product life cycles for electronics, closed-loop manufacturing, buy-back and exchange legislation, urban mining, and reverse supply chain are some of the steps involved in this. Some of the changes that have been suggested or put into place concern proper e-waste recycling certifications, workers’ rights, and environmental supervision for current service providers. Others center on zero-waste, the circular economy, increased cyber security awareness to improve hardware destruction techniques, and these specific changes. The world will eventually depend more and more on technology and automation, but individuals won’t give up their own gadgets any time soon.
e-Waste Recycling & Reuse Service Market Highlights:
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Electronic Recyclers International, RecycleNation, WasteConnect, iRecycle, Recycle Track Systems, Sims Metal Management, Umicore, Tetronics Technologies, Aurubis, Ash Recyclers, Evergreen Recyclekaro, Exigo Recycling |
This expansion is mostly fueled by It is projected that more than 57 million tonnes of electronics would be disposed of. The weight of only the e-waste produced in a single year is equivalent to that of 4,700 Eiffel Towers or 82,000 school buses, which would cover Manhattan. Only 17.4% of the total is recycled annually as electronic garbage. When end-of-life electronics are returned for reuse or recycling, they include priceless, reusable parts, components, and minerals that may be ethically retrieved for use in other applications. Reusing electronics components and materials is necessary to reduce their carbon footprint since it lengthens their lifespan.
Market Major Segments:
By Application:
- Trashed
- Recycled
By End-use Verticals:
- Industrial & Commercial Electronics
- Consumer Electronics
By Material:
- Glass
- Plastics
- Others
Major players Involved:
- Electronic Recyclers International
- RecycleNation (United States)
- WasteConnect
- iRecycle (United Kingdom)
- Recycle Track Systems
- Sims Metal Management (United States)
- Umicore (Belgium)
- Tetronics Technologies
- Aurubis (Germany)
- Ash Recyclers
- Evergreen Recyclekaro
- Exigo Recycling
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- The government and competitors both have a role in the e-waste recycling and reuse market.
- The players might employ a product- or market-based strategy. When the government controls how firms recycle and when there are no specialized recycling organizations that businesses may outsource to, the product-based recycling system generates the highest welfare.
- Here, firms work together with competitors to recycle similar products. The trash stream will be homogeneous, which makes recycling easier.
- This is the best-case scenario. All-inclusive recycling is employed when there is a high potential for economies of scale; where there is a low likelihood for such potential, market-based recycling is used.
- When there is a significant market presence and a wide range of products, businesses adopt the firm-based recycling strategy.
Major Developments Activities in the Market:
- Recycle Track Systems (RTS), a pioneer in cutting-edge traceability and sustainability resolutions used in the materials, waste, and reprocessing industry, has acquired Cycle Technology’s assets as of February 14, 2023, with its reverse marketing machine (RVM) knowledge and salvaging rewards stand.
- As part of its continued effort to encourage recycling through engagement strategies like gamification and prizes, RTS is doing this.
- In order to increase recycling rates and reduce garbage, Cycle powered by RTS, which is now available at some stadiums, works with teams in the MLB, MLS, and NFL.
Regulatory Insights:
- Consumers in NYS are obliged to recycle a variety of electronic waste goods, including computers, televisions, computer peripherals, small-scale servers, and other tiny electronic equipment.
- Manufacturers are required to offer free and simple recycling of electronic trash to the majority of customers in the state under the NewYork.
- Individuals, for-profit companies, organizations with fewer than 50 full-time employees, organizations with fewer than 75 full-time employees, organizations recognized as exempt from federal income tax under section 501(c)(3), schools, and governmental entities in New York State are all eligible for free and convenient recycling.
- Charges may apply to for-profit companies with 50 or more full-time workers and non-profit organizations with 75 or more full-time employees.
Market Growth Drivers:
- It is projected that more than 57 million tonnes of electronics would be disposed of. The weight of only the e-waste produced in a single year is equivalent to that of 4,700 Eiffel Towers or 82,000 school buses, which would cover Manhattan.
- Only 17.4% of the total is recycled annually as electronic garbage.
- When end-of-life electronics are returned for reuse or recycling, they include priceless, reusable parts, components, and minerals that may be ethically retrieved for use in other applications.
- Reusing electronics components and materials is necessary to reduce their carbon footprint since it lengthens their lifespan.
- Additionally, for every pound of steel, aluminum, plastic, or copper that accumulates for reuse, stop a pound of material from being newly created or dug out from the earth.
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Challenges:
- The success of businesses that provide e-waste recycling and reuse services is impacted by the absence of automated systems and tracking tools that loosen the control of routine operations.
- Since they can’t find a standardized solution, e-waste recycling & reuse service organizations are compelled to utilize ineffective, costly, and time-consuming rubbish transportation and recycling techniques.
- Assets that are ideal for trash transportation, such as cars and devices for separating food waste, solid waste, and other litter, are not adequately utilized since there aren’t the right tracking tools in place.
Opportunities:
- The digital revolution has encouraged efficiency in e-waste recycling and reuse services, which also minimizes the.
- E-waste recycling & reuse service prospects are expanding, offering an improved and rejuvenated approach to wasteful practices.
- These resources can be repaired and sold on the market as used hardware. This strategy has the dual advantages of establishing circular IT, where resources are reused, recycled, and upgraded while maintaining compliance with data standards and leaving no traces of old data.
- More businesses are switching from on-premise to cloud-based data centers. A good track & trace feature will increase visibility and/or help government, manufacturers, and recycling initiatives to combat e-waste from the time of product creation through its usage and disposal.
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