NEW YORK (GBI Research): E-waste represents both a growing problem and a significant business opportunity, as the high volumes generated every year contain both toxic and precious materials, states a new report by resources experts GBI Research.
The report* explains that the composition of e-waste is very diverse and differs from product to product, but can often contain many hazardous substances such as lead, mercury and arsenic, which pose significant health and environmental issues if not properly recycled or disposed of.
In contrast, e-waste can include iron, steel, copper, zinc, and even precious metals such as gold, silver and platinum. The United Nations Environment Program suggests that one metric ton of e-waste from personal computers contains more gold than that recovered from 17 metric tons of gold ore. The subsequent recovery of metals and raw materials from e-waste is a profitable business and has resulted in local, trans-boundary and global trade.
GBI Research’s analysis explains that a large volume of e-waste generated in developed countries is exported to China, India, Pakistan and Africa. These informal recyclers use rudimentary techniques such as open-air burning and acid leaching to process the waste, causing the loss of some valuable raw materials present in the e-waste, and creating substantial health and environmental hazards.
Increasing rates of e-waste generation and the environmental hazards posed by it have propelled many countries to legislate and implement policies to tackle e-waste. The European Union have banned the export of hazardous e-waste and formulated the Waste Electrical and Electronic Equipment (WEEE) Directive and the Restriction of Hazardous Substances (RoHS) Directive to stipulate e-waste management in the region. In the US, many states have their own specific e-waste law, and some have instituted mandatory electronics recovery programs. The environmental protection agency (EPA) also encourages the reuse and recycling of used electronics in the US. Authorities such as Greenpeace also observe the problems caused by e-waste, and campaign for the adoption of the 3-R principle, encouraging individuals to reduce, reuse and recycle.
The report stipulates that stringent government regulations regarding e-waste management will provide a boost to the e-waste recycling market, which is set to drive the global e-waste recovery market across all geographies. GBI Research anticipates the market to reach $44.3 billion in 2020, up from $11.8 billion in 2011.