The world markets in e-waste and e-waste component recycling are set to almost double in the next five years, according to a report.
Business consultancy Transparency Market Research said the global market for end-of-life electronics recycling was expected to be worth over $18.2bn (£11.3bn) in 2017, up from $9.8bn in 2012.
The Chinese e-waste services market alone is expected to surpass the $1bn by 2017.
Recovery and processing accounted for more than a third of e-waste services revenue in 2012, making it the largest portion of the e-waste recycling market.
The key components of e-waste that are recycled or reused are: metals, plastics, and silica. The e-waste components market is projected to be worth $25.2bn in 2017 up from $13.9bn in 2012 – the largest components sector is metals, with over half of the market revenue share.
The report said: “The interest shown by various electronic goods manufacturers open new horizons for the e-waste services market by accepting the discarded electronic products and recycling and reusing it rather than dumping it.”