United States – Revenue for the US mobile phone recycling industry is estimated to reach US$ 827.5 million over the five years to 2016, according to new data released by IBISWorld. This represents an annualised growth of 15.8% over the period.
Growth will slow this year to 11.4% as declining copper prices reduce the amount of revenue operators can obtain for scrap material, the report states. Despite falling commodity prices cutting into the average industry profit margin IBISWorld underlines that demand for industry services has ‘risen steadily’ as increasingly high-end consumer devices have entered the industry and as consumers with rising disposable incomes tend to quickly upgrade to the newest smartphones.
Regulations at the state level have significantly benefited industry operators. For example, in 2011 Utah passed a law that requires companies to educate consumers about locations where they can recycle electronics.
‘As consumers become more educated about electronic recycling, the collection of electronics, including cell phones, becomes easier,’ comments IBISWorld Industry Analyst Madeline LeClair. Consequently, IBISWorld expects recycling industry revenue will continue growing through 2021.