E-waste represents one of the fastest-growing sectors by volume within the global waste industry. Due to this fact and to impending legislative targets the Waste Electrical and Electronic Equipment (WEEE) recycling market looks very promising during the next few years with plenty of opportunities for its participants across the value chain.
According to a new analysis by Frost & Sullivan titled “Global Opportunities in the Waste Electrical and Electronic Equipment (WEEE) Recycling Services Market,” the global WEEE recycling services market was estimated at $1,424.6 million in 2011. This is further expected to grow to $1,869.3 million in 2017 with a strong CAGR of 4 percent.
The global economic slowdown affected the WEEE recycling market in as much as the prices of steel and plastics, for example, went on a steady decline, as did tonnages of e-waste in the market. As a euro-centric market, growth rates were severely impacted as key regions in Western Europe remained stable and it is only now that the market has come back to the growth mode.
The WEEE recycling services market is essentially dependent on legislation to act as the prime mover for market momentum. It is therefore no surprise that Europe is the leading region globally owing to the power of the WEEE Directive and the presence of leading companies offering recycling expertise.
EU Directives on WEEE, ROHS, and Eco-design have a definitive deadline and there have been serious attempts made by individual member states to adhere to these deadlines as well as establish local systems and procedures to meet the provisions as per legislation.