A recyclable plastic scrap is becoming increasingly popular, with plastic recyclers and recyclist firms seeing huge profits on the cheap.
According to a recent survey by Consumer Reports, Eft is the second-most popular plastic scrap after the plastic used in mobile phones, while the biggest winners are scrap metal companies who say they make a significant amount of profit from selling recycled plastic.
Eft has also become a major player in the recyclables industry in the past couple of years, with the recycling giant using it to make some of its own batteries and to create the metal scrap used in some of the company’s products.
Consumer Reports found that recycling companies made a profit of $2.6 million on scrap metal in 2015, while Eft was responsible for $2 million in scrap metal revenue.
Eft scrapers also made a significant profit from the sale of recycled plastic, according to a report from the nonprofit.
EFT made $5 million from recycled plastic in 2015 alone, according the report.
“They’re using the recycled plastic to make batteries and products and even to make their own batteries,” said Mark Williams, a plastics recycler who has worked for Eft for years.
Williams says he makes a profit on recycled plastic at least a few times a year.
In the past, EFT scraped plastic out of its recycling trucks at an estimated cost of $50 per ton.
But with the rise of new plastics, scrap metal prices have skyrocketed.
“[We’re] really, really lucky that we’re not getting hit with a lot of the costs associated with building the scrap,” said Williams.
“It’s been a really great investment in the future for us.”
Williams said Eft’s success is because it has been able to build its own recycling technology and keep costs low.
Recyclers like Eft say the high-tech recycling system that Eft employs makes the company competitive.
Eft recycles about one-third of the plastic scrap that is sold to companies like Walmart, Costco, Target, and the New York Times.
When Eft makes a scrap of the scrap, it’s then sent to a scrap metal recycler in Wisconsin, where it is sorted and used to make battery and mobile phone batteries.
However, Efts scrapers still make a profit from their business, with a typical scrap recycling price per ton at $1.50, which makes them one of the lowest cost scrap recyclizers in the world.
The popularity of recycled plastics is expected to continue, and is also seen as a good thing for the environment, as it recycles carbon and other toxic materials from the environment.
Reuse is an increasingly common trend in the United States, and as more people get rid of plastic in favor of less toxic alternatives, more recyclists will be looking for ways to make money from the recycled material.