Dive Brief:
- A new market report has been published by Transparency Market Research. The report valued the worldwide electronic recycling market at 9.84 billion in 2012, and has expectations of the industry hitting $41.36 billion by 2019.
- This is a 23.06% rate of growth from 2013 to 2019. The market reached 48.43 million tons in 2012, with forecasts reaching 141.05 million tons in 2019.
- Europe was the biggest recycler of e-waste, with Asia Pacific expected to be the fastest market for growth potential expanding at a rate of CAGR of 22.8% from 2013 to 2019, propelled by a large volume of e-waste and cheap labor.
Dive Insight:
The global e-waste market is expected to grow due to government regulations, environmental sustainability programs, and rapid industrialization. Computers are holding the position for greatest amount of electronics being recycled in 2012, and are expected to maintain this position in the future.
The report states that the global market is scattered and includes many companies operating on a small scale. Sims Metal Management was noted for having a majority of shares in the electronic recycling market.
