Improved management of e-waste materials, technological advancements and implementation of stringent recycling rules is anticipated to drive the global electronics recycling market growth exponentially over the next few years. Electronics recycling of waste scrap containing bio-degradable and harmful materials enables refurbishment of functional components, which may further positively impact market growth.
Rising environmental initiatives by equipment manufacturers, government and non-profit organizations may further stimulate global electronics recycling market growth. Moreover, increasing awareness pertaining to eco-friendly products may also fuel market demand. Limited shelf life of electronic products, environment sustainability programs, high rate of obsolescence, and existence of rare earth metals are a few factors expected to drive the market over the forecast period.
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Technological advancements in launching of new products coupled with rising consumer buying power may result in high obsolescence rate of electronic products, which may further drive the electronics recycling market in the near future. Diminishing product shelf-life may lead to e-waste accumulation, triggering recycling, which is expected to spur the market demand. Factors such as existence of toxic materials, better disposal management, and resource conservation are expected to favorably impact electronics recycling market growth.
Growing demand for electronic devices across wide range of applications such as communication, health, security, education, food supply, and medicine generates e-waste which may in turn drive the electronics recycling market growth. Excess of e-waste may lead to health issues, pollution, landfills, and overcapacity of incinerators, which may further stimulate need for recycling. Further, faster replacement cycles and high availability of recycled and new devices are some key factors expected to substantially drive market demand. Further, limited landfill capacity, high mining cost, escalating landfill prices, increasing volume of e-waste, and the paucity of precious metals may catapult market demand over the forecast period.
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