Did you know that all cars are scrapped, recycled and repurposed at the end of their life? Rather than simply being disposed off or incinerated, cars are segmented and have their parts used for various purposes. This process begins when you deliver your car to a scrap car Singapore yard where upon it starts getting dissembled.
Approximately 65 percent of a junked vehicle is produced from steel (the remainder is made from other metals plus glass, rubber and furnishings). The price for scrap steel and iron, though unstable, typically hovers around $250 per ton.
The Value of Recycled Steel
Expanding economies in Asia have led to higher demand for scrap steel, boosting the market worldwide. With 14 million tons of steel from cars being scrapped annually contributing to an industry-wide total amount of 76 million tons of recycled steel and iron, it’s simple to see that car recycling is a multibillion-dollar market.
Recycling metal uses around 74 percent less energy than making new steel, according to the Environmental Protection Agency. Recycled steel is cheaper too, since new ore does not have to be extracted to generate it.
All steel created today has at least 25 percent reprocessed steel in it, and some items are made totally from reprocessed steel. So in addition to the financial and ecological advantages, reprocessing automobiles is an important link in the planet’s industrial framework.
Growing Car Scrapping Industry
When cars are crushed, they’re shipped off to a reprocessing center where they are shredded and divided into tiny parts, which are then arranged into different metals.
A good example of increasing car scrapping activities would be that of China. For one thing, stock is building. In 2018, China sold 28 million new cars and nearly 14 million used ones. Quickly, the proportion will certainly flip: China is home to greater than 300 million registered cars– the largest fleet on the planet– and it’s just a matter of time prior to more of them are resold.
The quality of Chinese vehicles has additionally upgraded to the level where numerous developing-world consumers may well pick them as a less costly choice to used Toyotas or Fords.
At the same time, China’s car industry is in a downturn and policymakers are keen to find methods to jack up it. Used-car exports, the government states, can “stimulate the vigor of the domestic auto consumption market.”
That leads to competition and potentially difficulty for the automobile industry globally. A rise in the supply of used vehicles will inevitably drive down costs, especially in the up and coming markets such as Nigeria and Cambodia to which Chinese merchants will be marketing their cars.