The Economic of Recycling – An Industry Wise Analysis

The Economics of Recycling

Did you know that Americans haul more than 80 million tons of trash to recycling units every year? This is enough to fill a huge baseball stadium from top to bottom every single day! Recycling is an environmentally-friendly practice that saves substantial energy and cuts down on greenhouse gas emissions. It creates job opportunities, conserves natural resources, saves energy, and dramatically reduces landfill waste by using balers and compactors.  There are a number of economic benefits of recycling for every industry right from electronics and automobiles to apparel and scrap.

Let’s take a look at the top 10 industries that are making the most of recycling to gain a competitive edge:

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      1. Electronics

      Given the increasing reliance on electronic gadgets and devices in day-to-day life, the electronics industry is rapidly growing. As newer makes and models are launched, the old ones are rendered useless. This has generated an endless stream of obsolete electronics which need to be disposed of in a responsible manner using recycling equipment. For all these reasons, recycling of electronics has become a booming industry. In the U.S. alone, e-waste recycling generates at least $20 million every year.

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      2. Hospitality

      Hotels are also gaining substantial economic benefits by implementing eco-friendly initiatives that need little to no investment. By choosing to go green, hotels are not only cutting down on energy consumption but also gaining a competitive edge and customer loyalty. Green practices have helped hotels reduce their carbon footprint and operational expenses. Simple measures like using fluorescent light bulbs, reusing linens, installing low-flow sanitary ware, installing green roofs and solar panels have yielded significant environmental benefits in terms of energy consumption, employee retention and pollution prevention.

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      3. Food Packaging

      The food packaging industry is prudently minimizing the impact of packaging waste on the environment by following the EPA guidelines. Right from choosing the packaging material and composting to combustion and waste management, the food packaging industry has revamped every operation to make it eco-friendly. Recycling ensures safe recovery of waste material and the waste that cannot be recycled undergoes controlled burning in a designated facility.

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      4. Paper Mills

      Paper mills are saving 4,000 kilowatts of energy, 7000 gallons of water and 380 gallons of oil on every one ton of paper they recycle. These energy resources are enough to power an average home in the U.S. for six months. Recycling paper not only saves trees from being cut down but also reduces the landfill waste.

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      5. Chemicals

      Recycling of materials is now a common practice in the chemical industries. Basic chemicals, plastics and polymers are recycled for conserving raw materials and making processes more efficient. Recycling is now gaining global significance as it creates sustainability, improves business credibility, recaptures the value of waste chemicals and ensures safe disposal, thus preventing environmental contamination.

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      6. Apparels

      The apparel industry is no exception when it comes to recycling. Even the fashion industry is governed by legislative frameworks and as a result, designers are now turning towards recycled materials for creating sustainable garments. The fashion sector recycling reduces landfill waste and preserves natural resources. It also boosts brand performance and improves reputation. For all these reasons, leading fashion brands are now working with recycling service providers.

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      7. Steel

      Steel being 100% recyclable, the steel industry is now recovering every ton of scrap to meet the increasing demand for steel. Steel scrap is recycled because it has a high economic value and it is the most eco-friendly form of recycling. It eliminates the burden of primary material production, reduces the environmental impact of associated reprocessing and conserves the energy used in waste handling.

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      8. Dairy Farms

      As all dairy farms are required to comply with the federal regulations governing the storage of manure, they are now recycling manure by following the nutrient management plans. This is helping dairy farmers protect local streams and rivers while conserving the soil. The manure is being used for fertilizing crops and protecting stream banks. Dairy farmers have also found innovative ways to recycle water and other natural resources to ensure that their farms remain economically viable and reduce greenhouse emissions.

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      9. Automobiles

      Approximately 14-15 million vehicles are dismantled every year for recovering metal and other recyclable materials. While recycling the metals recovered from these automobiles saves tremendous energy that is used in making metal, it also prevents the hazardous materials from polluting the environment. For every single car that is recycled, results in the saving of 1400 pounds of coal, 1.25 tons of iron ore, roughly 13-14 tons of steel, 120 pounds of limestone and 39,000 gallons of water.

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      10. Pharmaceuticals

      The advanced practices being followed by pharmaceutical companies in packaging and preserving product integrity have now paved the way for recycling expensive tablets and capsules. Previously sold but unused medication is now being used for resale and donation. The benefits of this initiative have improved the well-being of those who belong to low-income groups and cannot afford medication that is vital to their health.