KUALA LUMPUR, Malaysia, June 13, 2013 /PRNewswire/ -- The rapid industrialization and advancements in technology have led to the accumulation of electrical and electronic waste in Asia-Pacific, compelling governments to pass regulations mandating e-waste recycling. Apart from government impetus, the market has got a boost from the increasing awareness of the potential value of resources within e-waste.
New analysis from Frost & Sullivan (http://www.environmental.frost.com), Strategic Analysis of the Asia-Pacific E-Waste Recycling Market, finds that the market was worth US$1.85 billion in 2012 and is expected to reach US$4.01 billion in 2017.
Consumers are only interested in the usable lifetime of their devices and rarely concern themselves with its structural value or potential environmental impact. Most Asian consumers are still unaware of the lifetime of a component of a device past its use-by date and this increases the quantity of wastage from the disposal of end-of-life (EOL) items.
Taking a leaf out of the book of European markets that grew through the strict implementation of legislation, governments in Asia-Pacific are revising their own laws to improve e-waste recycling.
"As the Asia-Pacific is aiming to raise the standards of general waste management, recycling of e-waste has come into focus," said Frost & Sullivan Energy & Environmental Research Analyst Prashanth Kay. "Though most countries in Asia-Pacific have not yet established comprehensive regulations on controlling the disposal of e-waste, efforts are being made to study the current state and potential of implementing the right regulatory infrastructure."
The lack of regulations addressing e-waste has also made this region a global collection center for disposal. The abundance of e-waste creates significant opportunities for market participants. However, the lack of consumer awareness about the hazards of unprocessed disposal of electrical and electronic products hinders the market. Further, the heavy investments required to recover precious metals from e-waste processing deter participants.
"A key challenge for participants is finding sizeable amounts of e-waste to justify technological investments," noted Kay. "Participants have to expand their network of collections through strategic collection points, especially since waste management standards have not been at par with global standards."
In this highly competitive market, it is as common to see companies exit the market as it is to see new entrants. The ones that stay afloat are those that understand the need to increase their technological capabilities to maximize their output from recycling.
If you are interested in more information on this research, please send an e-mail to Donna Jeremiah, Corporate Communications, at firstname.lastname@example.org, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Strategic Analysis of the Asia-Pacific E-Waste Recycling Market is part of the Environmental Growth Partnership Service program. Frost & Sullivan's related research services cover non-residential LED market in Asia-Pacific and membrane technologies in water and wastewater treatment in Southeast Asia. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Strategic Analysis of the Asia-Pacific E-Waste Recycling Market
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
SOURCE Frost & Sullivan