The E-waste market in India is expected to grow at a higher rate than in China in the next few years, said a report.
According to a research report, the E-waste market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 26 per cent during 2015-2019, while the E-waste management services market in China is forecast to grow at a CAGR of 19.41 per cent over the period 2013-2018.
As per the research report titled E-Waste Market in India 2015-2019, the need to prevent biological hazards is one of the major trends upcoming in this market.
"Growing need to reduce toxins discharged from unattended e-waste has triggered more investment in the market," the report said, adding that the average discard/replacement rates have increased with a corresponding increase in buying power.
The report by US-based ReportsnReports.Com further said that lack of effective E-waste disposal mechanisms is hindering market growth.
E-Waste or Electronic Waste broadly describes loosely discarded, surplus, broken, obsolete, electrical and electronic devices.
E-Waste is an area of immediate and long term concern as its unregulated accumulation and recycling can lead to major environmental degradation which will pose a major threat to human health, the report said.
