WEEE stands for waste of electrical and electronic equipment, which is waste in nature and that something has a plug or needs batteries for power or have a power charging slot in it. All electrical and electronic waste equipment carries substances which can be dangerous to the environment. When waste electrical and electronic equipment is dumped in landfills, over the years the goods decay and leak pollutants into the earth and our water systems. In order to protect ourselves we recycle WEEE and in this way WEEE recycling market comes into play. WEEE recycling permits the restoration of treasured substances from waste stream of electrical & electronics equipment. This utility of WEEE recycling in fabric recycling centers performs a tremendous boom in the WEEE recycling marketplace globally.
Market Scope and Structure Analysis
Waste electric and electronic equipment recycling market contains one of the quickest developing waste streams in addition to advanced regions. Rapid generation improvements and ever-shortening product existence cycles are the various elements contributing to the speedy boom of electrical and electronic equipment waste.
COVID-19 Impact analysis
- The excessive call for electronic and electrical equipment because of the COVID-19 pandemic in addition to the standard annual growth of worldwide WEEE.
- At the beginning of 2020, the COVID-19 disease began to spread globally. Millions of people around the world were infected with the COVID-19 disease. Major countries in the world issued permanent bans and work suspension orders. Most of the life support industries have been hit hard, and the WEEE recycling market has also been hit hard.
- Due to the lockdown in major parts of the world, the market faced lack of labor for operational tasks.
- In terms of financial impact, the market has witnessed an advantageous increase, adoption of work at home guidelines has brought about expanded call for laptops, which has decreased the use of desktop computer and devices, therefore a good way to lessen the operational cost.
Top Impacting Factors
- In order to get rid of the COVID-19 crisis with confidence, WEEE recycling companies may formulate effective crisis management strategies, including focusing on next-generation products and solutions, moderately reducing the research and development budget for WEEE recycling.
- The government attaches great importance to the environmental protection industry, including the WEEE recycling industry. In recent years, new knowledge, technology and equipment have been introduced in dismantling, processing, disposal & emission control, and actual procedures have been improved.
- Authorized factories are facing a shortage of WEEE recycling. In order to further reduce the informal sector, a competitive and profitable collection system must be established. Some informal collectors still tend to hand over the collected WEEE to informal recyclers, resulting in improper recycling.
- The medical sector will include more types of WEEE, which may require more specific technologies and a larger industrial scale for recycling.
New product launches to flourish the market
- The European Institute of Innovation and Technology (EIT) is expanding its scope of research and development to improve the metallurgical processing of 100% WEEE concentrates. Companies in the WEEE recycling market should cooperate with these institutions to develop innovative recycling technologies. The combination of furnace design research and optimized separation and refining processes can facilitate the processing of 100% low-quality WEEE concentrates.
- In India, Ecoreco's WEEE recycling facility includes a comprehensive e-waste recycling facility, which is the first facility registered with the Central Pollution Control Commission and licensed by the Maharashtra State Pollution Control Commission.
- In past couple of years, various major sectors have shown various trends, and manufacturing and other heavy industries are facing operational challenges, which impacts the WEEE market. On the other hand, data center services, cloud computing and other online support industries have benefited greatly from market trends of WEEE.
- Many companies have developed collaborative robot’s technology for the betterment of the WEEE recycling market as these robots will work on the recycling process and on bigger equipment as well.
- The rapid growth of ICT networks and services requires stricter and more comprehensive legislation on the disposal of waste electrical and electronic equipment. More and more electrical and electronic equipment are becoming obsolete. This is one of the most important business opportunities for WEEE recycling market companies, therefore recycling companies rely on continuous process development to improve themselves and bring the latest innovations in the market.
Key Benefits of the Report
- This study presents the analytical depiction of the WEEE recycling industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the WEEE recycling market share.
- The current market is quantitatively analyzed to highlight the WEEE recycling market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed WEEE recycling market analysis based on competitive intensity and how the competition will take shape in coming years.
WEEE Recycling Market Report Highlights
By End User
Key Market Players
Biffa Group, Sims Metal Management, Wecycle, Smurfit Kappa Group, Veolia, SITA UK Ltd., ERP UK Ltd., Waste Connections, URT Group, Interseroh