Cell Phone Recycling in the US Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) August 21, 2014 -- Revenue for the Cell Phone Recycling industry is estimated to increase during the five years to 2014. Increasing cell phone ownership, the emergence of smartphone technologies and increasingly rapid mobile phone replacement rates created a replacement market among cell phone users and widened the potential base of phones available for recycling. According to IBISWorld Industry Analyst Sarah Kahn, “more phones have been used as raw inputs for precious-metal extraction or as viable inputs for resellers.” Industry revenue is also expected to grow as renewed consumer spending and the ongoing release of new phone technologies widens the potential base of used phones for recycling.
According to the Environmental Protection Agency, between 130.0 million and 150.0 million cell phones are thrown away in the United States annually. For every 1.0 million cell phones recycled, 35,000 pounds of copper and 772 pounds of silver can be recovered, with marginal recovery of gold and palladium. Rising commodity prices resulting from global demand from emerging economies have enabled cell phone recyclers to expand their operations and hire more workers, in turn increasing the industry's wage rates rapidly. Additionally, increasingly high-end consumer devices have entered the industry, as consumers with rising disposable incomes tend to quickly upgrade to the newest smartphones; consumers' older cell phones are wiped of all personal information and sent to buyers in the United States or in emerging markets.
“Beyond favorable demand for commodities, regulations have also benefited industry operators, mainly at state levels,” says Kahn. For example, states like California and Maine have required cell phone retailers to have a system in place for the acceptance and collection of used cell phones for reuse, recycling or proper disposal since the mid-2000s. As collection of cell phones for recycling and reuse becomes easier, this industry is poised to exhibit growth as a result of a widening base of key inputs (i.e. used phones). Consequently, IBISWorld forecasts industry revenue to continue growing through 2019.
For more information, visit IBISWorld’s Cell Phone Recycling in the US industry report page.
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IBISWorld industry Report Key Topics
Businesses in the Cell Phone Recycling industry primarily separate and sort recyclable materials from cell phones, smart phones, pagers and personal digital assistants. Companies also refurbish devices for resale. Revenue from processing other electronics is excluded from this industry.
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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]
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