Over the past few years recycling industry has flourished into billion dollar industry. In the United States alone recycling industry is now getting about $236 billion annual sales according to the U. S. Environmental Protection Agency. Recycling has not only plays an important role in mitigating global warming but also plays a vital part in global economy. If in the earlier years it was just a form of enterprise, nowadays it is highly profitable industry thus investments in recycling continues to grow every year.
According to Jerry Powell of Resource Recycling magazine about 25% of all the scrap collected in the U.S. is exported to many emerging economies particularly in Asia and Middle East. This statistic only conveys how recycling substantially contributes to the global economy. The fact that energy prices continues to increase, recycling has been considered as one way to improve energy conservation. Producing materials from natural resources consumes a lot of energy but with recycling only a fraction of energy needs to use for producing new materials. With this, recycling significantly reduces the energy usage making the production cost effective.
Moreover, recycling greatly helps in saving the environment since the world's natural resources are now depleting. According to some research the rising demand on natural resources could completely exploit the world's supply within the next several decades. Good thing many organizations and government units encourage recycling to mitigate the rising problems on environment and energy. One of the organizations that advocate recycling is Spectrum Blue Steel Corporation (SBSC), a company that is given license to market, to sell, and to deploy biosphere facilities in the Philippines. The biosphere technology that SBSC aims to deploy in the Philippines is just one of the recycling and gasification technologies that efficiently handle waste materials in order to be marketable.