Since over 200 years, scrap metal recycling has been a part of our economy. As a wider range of industries and individuals understand the benefits of metal recycling, a growing amount of scrap metal has been made its way through the recycling process. Many types of metal can be recycled today thanks to advances in technology and greater efforts to collect recyclable materials.
What are the benefits of recycling metal?
Economic Benefits
Metal recycling is beneficial for many industries and individuals. Metal-based manufacturing industries often have piles of scrap left over after they’ve finished fabricating their products. Why waste metal scraps? This trash can be converted into cash. This industrial scrap can be sold to recycle facilities, increasing profits.
Although scrap metal can be sold to consumers, the biggest benefit for individuals is the increase in the economy and the creation of jobs. Scrap metal recycling is an extremely labor-intensive business. According to an ISRI 2015 economic study, the scrap industry and its suppliers supports more than 470,000 jobs from $105 billion annually in economic activity. It generated approximately $4.4 billion in local and state taxes in 2014 and $6.76 trillion in federal taxes by its employees.
Recycled metal is more affordable than new metals mined from virgin ores for a manufacturer. These lower-priced raw materials reduce manufacturing costs. These savings are passed onto customers through a competitive market that offers lower-priced consumer goods. Recycled scrap metal can be used to lower the prices of many consumer goods, including appliances, household furniture, and grocery packaging.
Conserve Natural Resources
Although the primary driver of the recycling industry was economic in its inception, today the environment is the major beneficiary. The primary benefit of using scrap steel in Sydney is the conservation of natural resources. Many metals can be reused repeatedly without affecting their properties. A scrap metal recycling facility acts as an above-ground mine and supplies raw material for the construction, transportation, and manufacturing industries. The increased use of scrap material decreases the demand for mined iron, which reduces its use and helps to preserve land and natural habitats.
Reduces Energy Consumption
Scrap metal is much more energy efficient than mined ore. It takes a lot of energy to make usable metal out of mined ore. According to ISRI, the energy savings from aluminum scrap is approximately 95 percent compared with virgin materials. Reduced energy consumption means less greenhouse gas emissions. Carbon emissions can be reduced by using iron and steel scrap rather than virgin materials, according to ISRI states.
Other environmental benefits
Recycling steel, aluminum and copper keeps them out of the waste stream. This results in less waste going to landfills. It is beneficial to the environment to reduce landfill usage. However, it is especially important that metals are not disposed of in landfills as they can release harmful chemicals. Other environmental benefits include a reduction in energy and mining consumption, as well as a decrease in air pollution and water waste.
Future of Scrap Metal Recycling
Despite the many benefits of scrap metal recycling there are still large quantities of virgin ore that is being mined. Process improvements can increase recycling rates. It continually strives to improve its product to assist recyclers in improving efficiency, compliance, and profitability. Software can help recyclers remain competitive in spite of industry challenges like ever-changing compliance issues.
Other technological innovations could increase metal recycling rates. The new designs of consumer products could make it easier to disassemble and separate materials, especially for electronics that contain small amounts precious metals. Technology improvements in recycling could help keep up with more complex products. These technological advances are necessary to increase scrap metal recycle because we all benefit from it!
