With climate change being the hot topic of the decade, commercial metal scrap recycling never sounded better. However, with a focus on a more sustainable future, the use of virgin materials in manufacturing goods is heavily discouraged.
Not only does this practice reduce waste, but it also protects natural resources and offers environment-friendly benefits. And the current trends in the industry have also disrupted Commercial Scrap Metal Recycling Services in Chicago, IL. AS of 2021, nearly 59.8% of metal in the US was recycled. So, what are the key drivers? Let’s find out more about recycling services in Chicago, Illinois.
- Green Steel Production
Steel production has been something that’s been on the greener side for some time now. However, with the global demand for greener steel increasing rapidly, it’s bound to be even greener now.
As a result, Commercial Scrap Metal Recycling Services in Chicago, IL, are going further away from older furnace methods toward greener furnaces such as the Electric Arc Furnace (EAF) production. Though these furnaces are highly efficient, they are also huge investments, so the process has been going slow.
One amazing thing about EAF furnaces is that they typically use scrap for steep production. The demand for them will only rise in the future as ferrous scrap recycling tends to reduce carbon emissions by almost half!
- Demand for Recycled Aluminium
This demand stems from the demand for lightweight cars and aeroplane bodies. After all, reducing weight is the best way to reduce carbon emissions. This is why traditional steel components in automobiles and aircraft are rapidly replaced by lighter-weight aluminium and magnesium alloys.
Not only that but also the demand is mainly for recycled aluminum. This is because recycled aluminum is at least 90% more energy-efficient than traditionally mined metal. In addition, big names in the industry, such as Apple, have also started producing parts made through recycled aluminum to increase their green status.
The good news, in this case, is that already 50% of the aluminum used today is recycled material. Moreover, with the rise in green aerospace and automotive parts, the demand for recycled aluminum is expected to be higher in the future.
- Raging Demand for Palladium
All automobiles running on petrol come with catalytic converters that help them comply with emission targets. These converters are made using precious metals (anywhere between 1 to 12 grams) such as palladium, platinum, and rhodium.
Since diesel vehicles have declined, petrol-run automotives are high in demand. This has naturally increased the demand for catalytic converters. So, the commercial metal scrap industry is looking toward recycling palladium.
Recycled palladium is expected to cost only 10% of the freshly mined form of the metal. So, catalytic converters are heavily recycled to extract these metals. However, the price for such precious metals depends upon the composition of the metal in the scrap.
Bringing to a Close
So we see that the industry is changing at a lightning pace. This holds true for Commercial Scrap Metal Recycling Services in Chicago, IL, wherein you will find the rising demand for scrap steel, aluminum, and other precious metals.
The good news is that together, the world is advancing towards a greener future where, one day, climate change will be a forgotten relic of the past.