A new study launched this month from SBI Energy shows that electronic waste is growing three times faster than any other type of waste. The report, “E-Waste Recycling and Reuse Services Worldwide,” also showed a market growth of 10 percent, increasing from $6.2 billion in 2009 to $6.8 billion. The study shows e-waste collection services can expect to triple by 2020.
E-waste is a small portion of global waste, contributing just 0.01 percent to 3 percent of the total global waste, but it is growing at a rate two to three times faster than any other waste stream.
The rapid increase in e-waste recovery is due to 3 big parts: increased spending on electronic products, enhanced awareness of its high toxicity, and the growing recognition of the important substances discovered in some electronic parts.
Increased spending on electronic products, both by customers and services, is driving the accelerated e-waste development. Electronic items are becoming obsolete at a faster rate, especially mobile devices, due to fast improvements in technology, design, and functionality. The product on the market today is not constantly the best product on the market in 6 months.
The relative high toxicity of e-waste has produced an increased policy to the waste stream. Earlier this year, the EPA introduced a stewardship program to encourage services and consumers to recycle their electronics with licensed recyclers, and for electronic recyclers to end up being certified. These guidelines are not just promoting best practices within the industry but likewise promoting responsible practices by electronics users.
The third aspect driving e-waste market development is the growing recognition of important resources, such as lead, copper, and gold, discovered in some e-waste elements. These resources may be reclaimed at a profit and subsequently recycled in production. The ecological benefits of recovering these resources from e-waste are substantial. E-waste mining is much more secure and smarter for the environment than traditional mining industries.
E-waste is estimated to consist of less than 3% of the world’s overall solid waste stream. Regardless of being such a small portion of world waste, e-waste will remain under the microscopic lense because of its high toxicity and its quick growth. With appropriate guidelines in place and licensed recyclers leading the way, e-waste will become less of an environmental issue.
This post was written by Steven Elia Co-Founder and Recycling Director at eCycle Florida. eCycle Florida is a R2 Certified electronics recycling company in the state of Florida. Our processes and procedures are dedicated to the proper destruction and recycling of your electronics. eCycle Florida is your go-to for electronic recycling in Tampa.