European E-waste recycling market revenues likely to reach $1.79 bn by 2020 : Research report

LONDON (Scrap Monster) : A new market research report released by Frost & Sullivan has identified immense growth potential for the European E-Waste recycling industry. According to the report, revenues from the region’s e-waste recycling market are expected to climb to $1.79 billion by 2020, 38% higher from the $1.30 billion revenues generated during 2012.

The report identifies government policies as one among the major driving factors behind the excessive growth projected in recycling market. The stricter EU legislations with regards to imposing landfill ban on certain waste materials, setting higher standards for collection and recycling targets, hiking of landfill taxes are but a few measures which delivered significant boost to recycling efforts by waste management companies.

Further, the optimization of collection systems and recycling technologies by waste electrical and electronic equipment (WEEE) processors may aid better recycling rates.

Frost & Sullivan Research Report identifies Germany, France, Italy and Central and Eastern Europe as the regions with immense opportunities going forward.

Meantime, the study report titled ‘European Waste Electrical and Electronic Equipment Recycling Market’ also talks about the challenges faced by WEEE collectors in the region. The lack of efficiency in collection of WEEE material, drag in recycling process and challenges in meeting final recycler are the major issues that need to be addressed.