Worldwide revenues from recycling waste electrical and electronic equipment (WEEE) will more than triple by 2020
According to a new study by the US company Allied Market Research. For the period 2014 to 2020, the analysts predict an annual revenue growth rate of just under 24 per cent. They put total revenues for 2014 at around $13.9bn. Should the market grow as quickly as they forecast, revenues would reach approximately $50bn in 2020.
The most important growth drivers for the WEEE management market were technical advances and the resulting shortening of product life cycles for technical devices, wrote Allied Market Research. The acceleration of the rate at which devices reach end of life boosts e-scrap arisings. At the same time, however, the narrowing supply of valuable metals drives revenue growth from e-waste.
The market research company expects that the costs of recycling end-of-life equipment will play a less important role as time goes on and awareness of the need for environmentally sound processing grows. Despite the high rate of projected revenue growth, the report’s authors anticipate that in five years, more than half of worldwide WEEE arisings will still be disposed of without processing.