Mobile recycling market set for strong growth
Wednesday, April 27, 2016 - 09:28:16
The next four years will be a positive period for the mobile recycling market as a whole, with analysts anticipating that it will achieve a compound annual growth rate of 17 per cent between now and 2019, according to WhaTech.
These predictions have been made in part as a result of the increased efforts being made to stamp down on the illegal disposal of electronic waste, of which a large proportion is made up of mobile devices. And with better market regulations and more initiatives to boost awareness, mobile recycling is set to continue its rise to prominence.
Technavio analysts also point out that more mobile phones are being manufactured than ever before, with the regular upgrade cycle embraced by most users leading to more e-waste mounting up. And so there is a clear incentive to make greater efforts to tackle this issue, or else face a growing economic and ecological disaster.
Around 42 per cent of the mobile recycling market will be focused on the plastics which are recovered when old devices are reclaimed. Investments being made in improving the durability of mobiles will mean that more handsets can be refurbished and reused rather than recycled in the future.
By 2019, it is estimated that 53 per cent of the world’s mobile recycling revenues and activities will take place in the Americas, meaning that this regions is ahead of Europe, the Middle East, Asia and the Pacific.
Average consumers buy a mobile phone and use it for two years before they make an upgrade, meaning that the demand for mobile recycling is certain to grow as a result of this factor, above all else. But ensuring that people know about the benefits of selling old phones so that they can be disposed of efficiently is vital.
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