In November 2020, the EPA released a report about the economic impact of recycling, with metals recycling as a top contributor to all of their economic measurements. The best demolition companies in Oregon are taking advantage of this lucrative stream of revenue by implementing asset recovery programs. These programs help divert demolition waste from landfills, provide a way to help offset the costs of demolition, and help protect precious natural resources.
Facts & Stats About the Scrap Metal Recycling Industry
In today’s article, we’ll take a look at the many ways that metals recycling supports the United States and how top demolition contractors in Oregon help in that effort.
1) Metals Recycling Protects Natural Resources
Metals recycling, which includes recycling ferrous metals and scrap metal, has a major impact on the environment as it helps conserve natural resources. Valuable metals are melted down and recast into new products.
2) Recycling Prevents Pollution
Recycling helps prevent pollution by reducing the need to collect new raw materials. Iron ore mining is very resource-heavy and requires use of fuel, water, and manpower to refine. Despite being the fourth most abundant element in Earth’s crust, iron is very rare on the surface.
When mined, it is a mixture of the iron ore and loose waste earth. The ore is separated by crushing the mined material or washing away the earth with dirt. The ore must then be smelted, which involves heating the metal until it is spongy and releases impurities.
Recycling metals allows for the mining and smelting process to be skipped, which helps prevent pollution.
3) Recycling Metals Creates Economic Security
By keeping metals and other materials (such as concrete and lumber) in the recycling loop, economic security is increased by tapping a domestic source of materials. American manufacturing is supported and jobs are created in the demolition, recycling, and manufacturing industries.
According to the EPA’s report, recycling efforts in 2020 allowed for 681,000 jobs and resulted in $37.8 billion in wages as well as generated $5.5 billion in tax revenue. At the top of the list of recycled goods production are recycled ferrous metals and recycled non-ferrous metals.
4) Metals Recycling Creates the Most Jobs
Ferrous and non-ferrous metals recycling generated the most jobs out of all the categories of recycled goods products in the EPA’s 2020 report. Hiring a demolition company with asset recovery services like a metal, concrete, or scrap metal recycling program not only helps you, but helps your fellow Americans.
5) Recycled Steel is in High Demand
According to a report by Grand View Research, the global recycled metals market is expected to grow annually at a rate of 4.1% from 2019 to 2025. This is driven by an emphasis on using recycled metals due to environmental and energy consumption concerns.
Metals can be recycled several times and still remain usable. Recycling steel uses 75% less energy than refining it from metal ore. Just one metric ton of recycled steel saves the U.S. 630 kilograms of coal, 55 kilograms of limestone, and 1.1 metric tons of iron ore.
6) Demolition Asset Recovery is Good for Your Wallet
The costs of commercial or industrial demolition can sometimes be offset by the revenue generated by implementing an asset recovery program. Whether you are recovering scrap metal or concrete, our Oregon demolition company has you covered.
Top-Rated Commercial Demolition Contractor in the Pacific Northwest
Elder Demolition serves Oregon, Montana, Idaho and Montana, providing a wide range of demolition services including asset recovery, scrap metal and concrete recycling, and steel processing. If you are interested in having the top demolition company in Portland, Oregon help you with your demolition project contact us today. We look forward to helping you.