Five positives to the circular economy
The circular economy is an increasingly important concept in the field of engineering, and it has significant implications for the buying and selling of used machinery. We have seen first-hand how this concept can be applied to reduce waste and improve sustainability in industrial processes.
Did you know that approximately 45% of global emissions can only be resolved by changing the way we manufacture products and goods? Extracting the maximum use out of our resources and keeping them in use for as long as possible as well as restoring the world’s wilderness are just two of the principles of the circular economy. This can lead to the following five benefits:
Reduced waste
In a circular economy, products are designed to be reused, repaired, or recycled, rather than being thrown away after a single use. This can help reduce waste and the environmental impact of disposing of products and machines.
Resource conservation
By reusing and recycling materials, a circular economy helps conserve resources and reduce the need for new raw materials. This can help reduce the environmental impact of resource extraction and the associated carbon emissions.
Cost savings for businesses
A circular economy can help businesses save money by reducing the need to buy new materials and reducing waste disposal costs. This can also create new economic opportunities, such as developing new recycling or repair industries.
Job creation for the manufacturing industry
A circular economy can create new jobs in industries such as recycling, repair, and remanufacturing. In the cost-of-living crisis, circular economics could prove a lifeline to many.
Increased product quality
A circular economy can encourage businesses to design products that are durable, repairable, and recyclable, leading to higher quality products that last longer and are less likely to end up in a landfill.
Furthermore, by buying used machinery instead of new, companies can save money and reduce their environmental footprint. The manufacturing of new machinery requires significant amounts of energy and resources, which can be avoided by purchasing pre-owned equipment. Additionally, buying used machinery can often be a more cost-effective option than buying new, allowing businesses to invest in other areas of their operations. A circular economy can make businesses and communities more resilient by reducing their dependence on finite resources and creating local supply chains for recycled and remanufactured products. By reducing environmental impact, conserving resources, creating new economic opportunities, and improving product quality and resilience we can ensure that sustainable communities are built for all.
In conclusion, the circular economy provides a powerful framework for reducing waste and improving sustainability in the context of buying and selling used machinery. By embracing this approach, businesses can reduce their environmental impact, save money, and improve the efficiency of their operations. We are excited to see how this concept will continue to evolve and shape the future of our industry. We pride our efforts at Apex Auctions, part of the Apex Group of businesses in providing disposal solutions for machinery and equipment. Using our in-house technology Assetflow, we are able to provide internal redeployment of assets for clients on a global scale. Clients such as Rolls Royce, GE and BAE are just a small selection of companies using our technology. Alongside internal redeployment we provide an extensive offering to Corporate and SMEs around the world for external asset sales across our connected auction platforms.
If your business needs an easy sustainable option for machinery and equipment disposals that contributes to building a circular economy, contact us today for a free of charge valuation.
Let’s all do our part.