Analysing the critical trends in the top industries that utilize recycled metal
FREMONT: Five core sectors are responsible for driving the growth of the metal recycling industry throughout the world. Each of these industries contributes differently but equally to the global recycling arena.
1. Construction enterprises depend heavily on metal products. The construction of buildings and other infrastructure needs a constant supply of materials that require recycling in order to sustain its operations. The construction industry consumes 40 percent of the world's iron, steel, and aluminum resources.
2. The automobile industry is another giant that consumes metal. A vehicle is reused and recycled at an average rate of 80 percent by weight. 65-70 percent of the metal used comprises the mainframe of the vehicles, while the rest belongs to components that are dismantled and reused.
3. Consumer electronics carry the risk of producing large amounts of e-waste harmful to the environment. Currently, only about 12.5 percent of e-scrap is recycled globally, resulting in landfills. Recycling one million cell phones can yield approximately 35,000 pounds of copper, 772 pounds of silver, 75 pounds of gold, and 33 pounds of palladium.
4. Green energy technology has an ever-growing demand for the recycled metal, which the recycling industry can directly profit from by selling metal to local and global markets. It is beneficial to the environment as fewer raw materials need to be extracted, reducing deforestation and reducing emission rates.
5. The defense and aerospace industries find new ways to use recycled metal in planes, jets, and other defense equipment. If all aircraft were constructed in 2020 using 50 percent secondary aluminum content, it would save over 320,000 metric tons of carbon dioxide from entering the atmosphere.