The Petite Inputs of Organized Sector Restrict the Growth of India E-Waste Management Market: Bonafide Research

Vadodara, India, January 31, 2016 (Newswire.com) - According to recently published report of Bonafide Research “India E-waste Market Outlook, 2021” the organized sector is holding minor share of the Indian E-waste management market. Organized initiatives have formed the E-waste recycler’s association but facing hard competition from the unorganized sectors. In India, the majority of E-waste is handled by unorganized sector, wherein the system contains low paid workers including children and women who are completely unaware regarding the dangerous illness caused by E-waste and also they are untrained about proper process of E-waste. The safety is the biggest concern in informal sector where crude and primitive methods are used for processing E-waste with bare hands and no facemasks, like acid stripping and open air incineration releases numerous lethal components like polyvinyl chloride, chlorofluorocarbons, arsenic, nickel and barium, among others, into the environment causing medical conditions like cancer, asthma, bone diseases and brain diseases.

The problems encountering by organized sector includes the lack of proper collection, disposal mechanisms and appropriate technologies in the face of a large informal sector. Owing to be deficient in of appropriate collection systems, households and institutions at times end up storing obsolete products in their warehouses or storerooms. Even when these are sold or exchanged, they are refurbished and then resold. Merely a small amount of obsolete electronics products actually find its way into the E-waste processing stream.

Growth in the E-waste management industry depends on infrastructure availability and involvement of organized initiatives and increased government spending, rules regarding E-waste management and awareness campaigns which will catalyze the growth in the industry. Currently, more than 90% of E-waste is recycled in informal methods and only little proportion is being recycled in a formal way. With push on infrastructure for organized E-waste management and specifically on formal recycling the efficiency is expected to improve in future. The Consumer Take Back Program for electrical and electronic gadgets is integrated in India to help ensure organized collection, management and recycling of electronic waste in a responsible and sustainable manner. Companies in India are currently working on integrating the informal sector into the organized supply chain, while also enforcing to set up a widespread consumer E-waste collection network.

The E-waste management industry is anticipated to increase at a CAGR of 26.5% over five years. The major initiatives involved in the same consist of E-Parisarra, Attero India, ECORECO, E-waste recyclers India, Hi-Tech Recycling India, Ultrust Solutions, Earth Sense Recycle, Sims recycling solutions India, Ramky Enviro Engineers, Tech-Logic E-waste Recyclers, etc. The unorganized players are the local regional players who deliver the parcels and at a very low cost who also acquire a large share of the market. The organized E-waste management market had recorded a CAGR of 35.4% till 2015. The organized segment is expected to exhibit a faster growth in terms of value as the initiatives as well as government of India are continuously making efforts to grow organized sector of the E-waste management market in India.