According to the Institute of Scrap Recycling Industries (ISRI), approximately 4.5 million tons of electronic waste (e-waste) is recycled in U.S. every year. The U.S. electronic goods recycling market size is expected to reach USD 15.23 billion by 2025. Factors such as rapid industrialization, increasing demand for automobiles and consumer electronics, and growing need to manage proper use of natural resources are expected to propel demand for electronic goods recycling over the forthcoming years.
Electronic goods recycling refers to conversion of electronic scrap into useful raw material. This helps maximize natural resources and minimize harmful impact on the environment resulting from e-waste. Usage of electronic gadgets has grown considerably over the past decade or so, transforming the speed and quality of communication, information gathering, and entertainment. The U.S. government is supporting the recycling industry by donating used electronic products, which can be converted into valuable products.
Positive economic conditions in U.S. are boosting consumer confidence and spending power. Rising consumer disposable income is creating significant potential for the electronics goods industry, subsequently impacting the growth of the e-waste recycling market. According to ISRI, the U.S. electronic recycling market has recorded tremendous growth over the past few years. It reached the valuation of about USD 20 billion in last few decades and employs more than 45,000 employees in the industry.
Electric scrap is generated from computers, audio visual components, stereo equipment, plastics from monitors, key boards, printers, and computer wires, chips and other gold-plated components, VCRs, mobile phones, and other handheld devices. This electronic waste is utilized by manufacturing industries for producing new products and components. According to ISRI, the recycling industry transforms 130 million metric tons of obsolete scrap from businesses, consumers, and manufacturers. Electronic waste made from plastic, aluminum, copper, and iron can be recycled and re-used. Companies are focusing on maximizing their profit by recycling scrap from cheaper electronic goods.
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