Sunday 29 November 2020
 
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UK WEEE waste recycling market to hit $200m: report

NEW YORK, 7 days ago

The WEEE waste recycling market in the UK is estimated to expand at a CAGR of 8% until 2030, reaching a valuation of $200 million, said Transparency Market Research, a next-generation market intelligence provider, in a new report.

The WEEE waste recycling market in the UK is broadly affected by several factors. These include increase in consumption of electrical & electronics equipment, rise in concern about disposal of e-waste, and growth in the number of e-waste management laws. Furthermore, ongoing investment in development of material recycling facility with the aim to reduce the generation of e-waste stream is a key factor expected to boost the WEEE waste recycling market in the UK in the near future.

UK WEEE Waste Recycling Market: Dynamics

The focus on electrical and electronic products has been rising in the UK due to the increase in demand for these products. E-waste is a fast-growing waste stream in the UK The volume of WEEE waste is expected to double by 2045.

E-waste is a mixture of valuable resources and toxic substances that needs careful handling. E-products have evolved to become complex and ubiquitous in everyday lives. However, the rate of advancement in e-waste collection and management systems is lagging; as a result, there is no proper handling of e-waste. This leads to potential risks of resource losses and negative impact on the environment as well as human health. The UK Government is focusing on WEEE waste recycling and its proper implementation.

In Europe, the Waste Electrical and Electronic Equipment (WEEE) directive sets targets for collection and subsequent processing of e-waste for material recovery. The directive mandates all member states of the European Union to promote separate collection e-waste and resource recovery. Furthermore, the directive has made producers responsible for their e-products and recycling in order to improve recyclability and encourage the integration of end-of-life aspects during product design.

WEEE waste recycling provides various benefits such as reduced e-waste, greater resource productivity, more competitive economy, emerging resources for future, and decrease in the environmental impact of production and consumption.

Thus, rise in focus on WEEE waste recycling is expected to provide solutions to boost the economy of the UK by recycling of WEEE waste materials and preventing hazardous impact on the environment. This is estimated to propel the WEEE waste recycling market in the UK during the forecast period. The growth in awareness about WEEE waste recycling is also likely to propel the WEEE waste recycling market in the UK

In terms of source, the household appliances segment dominated the WEEE waste recycling market in the UK in 2019. The segment is expected to expand at a CAGR of 7.8% between 2020 and 2030. The growth of the segment can be ascribed to the increase in demand for electrical and electronic equipment in households in the UK

Material handling and energy recovery are key end use segments of the WEEE waste recycling market in the UK In terms of end use, the material handling segment dominated the WEEE waste recycling market in the UK in 2019. The segment is expected to expand at a CAGR of 7.7% between 2020 and 2030. The expansion of the segment can be ascribed to the increase in demand for secondary materials.

UK WEEE Waste Recycling Market Outlook

The WEEE waste recycling market in the UK is expected to expand significantly during the forecast period, owing to rise in generation of e-waste across the country. According to the Global E-waste Monitor report 2020, the UK is the second largest producer of WEEE in the world. The UK generated more than 1.5 million tons of WEEE waste in 2019.

UK WEEE Waste Recycling: Key Players

The WEEE waste recycling market in the UK is fragmented. Major players operating in the WEEE waste recycling market in the UK are SUEZ, Veolia, Sims Metal Management Limited, Ragn-Sells Group, REMONDIS SE & Co. KG, Kuusakoski, Fortum, Marius Pedersen a.s., Norsk Gjenvinning Norge AS, and SCHOLZ RECYCLING GMBH. – TradeArabia News Service




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