E-Waste Industry: 4 Reasons Market Is Witnessing Rapid Growth

Reasons Market Is Witnessing Rapid Growth

The new and cheap digital devices are finding their way into the electronic market. The increased gadgets have also led to piles of e-waste that ends in backyard trash or landfills. The toxic substances present in these devices are polluting the environment and increasing the health hazards manifold. 

Let’s first understand what’s E-waste? Simply put, the Electronic waste that people discard in landfills without properly refurbishing them or giving them away for recycling is commonly known as E-waste. But, new laws and reforms have made people genuinely think about this toxic disaster. The United Nations has made an appeal to emerging economies across the globe to curb this disaster right away to restore healthy surroundings. There are many other factors that have also led the communities and industries to join hands together to provide seamless innovative solutions.

Clearing Up the Landfills:

E-waste is growing at an explosive rate which means thousands of laptops, desktops, mobile devices, etc. lands up in landfills every year and emits toxic substances. Moreover, the copper, lead, and mercury levels are quite high in these electronic devices. The worldwide reports suggest the global E-waste recycling is the only solution to clearing up these landfills or household trash. So, it is necessary to create awareness among the public to send their electronic gadgets to the recycling units in their state, cities, or towns.

Managing Environmental Toxins:

The dumping of electronic wastes in open leads to exposing harmful toxic substances in the environment. E-waste is full of toxins like chromium, lead, cadmium, beryllium, and other chemical retardants. Experts at opine that EPA-approved recycling procedures are helpful in curbing the e-waste menace. They are contributing to this worldwide market which is growing at the CAGR of 10.9% every year. 

Inclusion of Advanced Technology:

This is another factor that has led the recycling e-waste industry to grow as the units are using Loop Recycling technology for innovative e-waste refurbishment. The creative solutions to use the chips, copper or lead used in gadgets, wires, plastic, etc. in manufacturing industries is paving way for a cost-effective market. Most recycling companies are using the Closed and Open Loop recycling process to use the raw materials in environment-friendly ways. These processes are helping industries to recycle electronic waste without exposing any harmful toxins to the environment. The material embedded inside the gadgets is properly refurbished, rebooted, and reused in new gadgets.

Creation of Green and Clean Jobs:

E-waste recycling also comes with remarkable advantages and opportunities for startups, small and mid-sized companies. It creates a golden opportunity for the industries as they can generate clean and green jobs for millions of people. The industries are imparting training to the skilled workforce for e-waste management. Since a report suggests the market is worth to reach $45.78 billion by the year 2025, this is a chance for the companies irrespective of their size to sustain in this market for a long time. 

E-waste is not pollution and not an accumulated waste; it is an opportunity for thousands of industries to reduce their manufacturing cost. Instead of manufacturing new products, recycling these old electronics using advanced technology can prove beneficial. Start utilizing and valuing this resource to extract maximum benefits out of it.

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