WELLESLEY, Mass., June 19, 2018 (GLOBE NEWSWIRE) -- WELLESLEY, Mass., June 19, 2018 – Due to various technological advancements and the opportunity to garner precious metals, the global market for electronic waste management is experiencing significant growth, according to a new report from BCC Research.
The global market for electronic waste management was worth $27.0 billion in 2016. It is estimated to reach a value of $55.2 billion by 2022, indicating a compound annual growth rate (CAGR) of 11.9%, according to the report Electronic Waste Management: Global Markets and Technologies Through 2022.
There are several hazardous components to electronic waste, which include lead, mercury, lithium, phosphor, glycol and BFRs. Therefore, health professionals and researchers have concluded that controlling these substances is crucial to protecting the planet and its inhabitants.
Research Highlights
- Electronic waste production services are growing at the fastest CAGR (21.7%) in comparison to the other forms of technology that are influencing the industry.
- There are three main categories of electronic waste, which include household appliances, IT and telecommunication, and consumer electronics.
- The production of electronic waste is anticipated increase by 40% between 2017 and 2022, particularly in the Asia-Pacific region.
“Electrical and electronic waste contains many valuable and recoverable materials such as aluminum, ferrous metals, copper, gold and silver,” said Nikos Thomopoulos, report author and BCC Research analyst. “For maximum energy and natural resources conservation, electronic waste treatment and recycling have become a major priority for many countries. Electronic waste also contains toxic and hazardous materials including mercury, lead, cadmium, chromium, antimony and many other chemicals and recycling can prevent them from posing an environmental hazard.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.