US Recycling Industry-A Junkyard with Mind Blowing Revenues

1,661 views

junkyardRecycling- method of turning rages into riches

Have you ever thought what happens to the empty cold drink can or a waste paper once you dispose it off in the dustbin. It is ought to have crossed your mind but the robust research work needed to find the end spot of the rubbish stops you from proceeding any further. Recycling is a fast upcoming trend all over the globe. Most of the countries take up the recycling process of their wastes just for acquiring the eco-friendly tag, on the other end; they fail to display the economic profitability they achieve in the course.  Recycling has already taken the front seat and almost all countries around are doing their bit to make earth a better place; rather they are just helping themselves to be true.

The global recycling industry is worth US$ 500 bn or even more with the never ending segments of wastes flowing in from various verticals.  Looking at the positives from the industry, it is one of the most profitable counters and employees a massive count of workers into the process. These are just a few to start with, the raged industry gives the world; the US economy in particular loads more. In other words, minus the recycling industry; this world for sure would be a much dirtier place to reside in but it also will be a very poorer place than it is now. The industry is predicted to grow to mammoth unpredictable figures in the future years.  The US has had a vital role in the recycling industry and is more often criticized for spreading the dirt and scraps all over the globe, but the processes that they have adopted indicate otherwise.

Some of the findings below are just mind blowing as they indicate how recyclable wastes can add billions to economies.

Of all the recyclable wastes produced in the US, 60% is recycled in there itself. The left 40% is exported thus saving landscape in the country and providing opportunities to other countries like China to make a savings in their resources. According to report in 2011, the US economy gained a total of US$ 39.2 bn revenue out of the recyclable wastes it exported.

Since ages now, the US has been accused by the global media and environmental organizations of being a massive e-waste exporter to the less developed countries. E-wastes like computers, televisions, smartphones and more are said to be dumped by the world’s leading economy into the shores and lands of developing economies. However, the US international Trade Commission has released reports that express an opposite view. According to it, the vast percentage that is said to be put as “final disposal” is untrue and the practical volume is much lesser than what’s quoted. In fact, going by the report, most of the e-wastes are accounted to remain in the homeland and there are research works carried on for repurposing these wastes and reusing them in an innovative manner.

Another developed economy China is both the largest importer and the largest recycler of the recyclable wastes. Most of us know that China is the largest producer of copper but seldom of us are aware that around 35% of the total copper produced and used in different industry verticals creep up from the recycled source. During the 19th century, United States of America was the largest importer of steel; this was done in order to develop the country’s rail route. During this era, the nation’s steelmakers imported massive volumes of steel from the European countries, England to be specific. Again in the 1850’s US papermakers imported rags worth millions from the Britain recyclers and converted them to colossal productions of newspapers, books and other stationary items. Therefore, these methods of recycling are accounting to substantial gains to the economy.

The automobiles industry is one of the largest contributors to the US economy not just in the brand new production but also with the recycled segment. By recycling the automobiles, the country is able to produce about 14 million vehicles nationally per year. The production for the international market exceeds unpredicted limits as the market for recycled automotives is growing at horsepower rate worldwide.

To sum up everything, the US recycling industry is surely an important contributor to the country’s prosperous economy. However, most of this is happening on a mute mode without the other growing economies having to even realize it.