A new report suggests the world markets in e-waste and e-waste component recycling are set to almost double over the next five years, reports mrw.co.uk.
A study from business consultancy Transparency Market Research believes the recycling of end-of-life electronics – such as computers, tablets, monitors and smartphones – is expected to be worth over $18.2 billion (£11.3 billion) in 2017, up from $9.8 billion in 2012.
Just the Chinese e-waste market alone is expected to be worth $1 billion by 2017, reports greentechlead.com.
As a result, an increasing amount of old tech could be placed into recycling bins as society continues to purchase the latest gadgets and gizmos.
When it comes to components, the market is projected to be worth $25.2 billion in 2017 up from $13.9 billion in 2012. The key components recycled are metals, plastics and silica, with metal taking up over half of the market share revenue.
Overall, much of e-waste goes toward recovery and processing, with that sector account for more than a third of revenue in 2012. As a result, recovery and processing is the largest portion of the recycling market.
The report said: “The interest shown by various electronic goods manufacturers open new horizons for the e-waste services market by accepting the discarded electronic products and recycling and reusing it rather than dumping it.”