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By Jeremy Golden, Benzinga
The structures protecting homes and commercial buildings are significantly contributing to global pollution levels, causing some experts to sound the alarm and call for more sustainable construction materials.
Roofing waste is one of the top four construction or demolition materials discarded in landfills, with about 15 million tons of asphalt shingles ending up there annually. When dumped in landfills, shingles can take as long as 300 years to degrade and decompose to base elements.
Asphalt shingles are North America's most popular roofing material due in part to their durability and low cost. Nearly six million U.S. homes are reroofed annually, sending asphalt roofing shingles to landfills for disposal.
A cleantech company called Sky Quarry, Inc. is actively paving the way toward a potential multi-billion dollar solution for this ongoing waste asphalt shingle (WAS) problem. The company says it plans to revolutionize the construction materials industry by offering a sustainable path forward.
A Growing Industry
Though the COVID-19 pandemic had an impact on the construction market and its labor force, the industry is back on track, Fortune Business Insights reports. Valued at more than $1,320 billion in 2023, the global construction materials market size is expected to grow to $1,867 billion by 2032. That growth, driven in part by urbanization, is tied to the overall industry outlook, which forecasts more demand for infrastructure investments in residential and commercial projects. Government-sponsored projects are also expected to be a demand driver. Meanwhile, the roofing market in the U.S. was worth $27.46 billion in 2023 and is expected to grow to $42.66 billion by 2033.
Construction activities in the United States make up about 4% of the countrys GDP, making the construction material industry an important economic driver. The materials industry, however, is faced with many environmental concerns, and the impact of these materials is increasingly being taken under consideration as the sector grows. The U.S. is poised to run out of room in landfills by 2036; thus, waste will have to be transported further and further out.
Construction and demolition waste accounts for over 39% of global carbon emissions, so it is under increasing pressure to become more sustainable as the world population is expected to reach close to 10 billion by 2050. This will cause the demand for housing, office space and other developments to increase.
When it comes to roofing specifically, asphalt shingles are valued for their affordability and ease of installation. With a production process that involves the extraction and refining of crude oil, however, asphalt shingles contribute to air and water pollution and have a relatively short lifespan, leading to frequent replacements that generate a considerable amount of waste in landfills.
As a result, there is a growing need for sustainable construction methods that minimize environmental impact, as also evidenced by a recent study. Raising awareness among construction stakeholders and the public about waste management and recycling benefits is not only essential for the environment recyclable products also offer economic and financial benefits.
Sky Quarrys Solution Targeting Sustainability And Profitability
Adopting a more thoughtful approach throughout the construction lifecycle can go a long way in alleviating the environmental issues caused by construction. Sky Quarry, founded to solve the problem created by waste asphalt shingles, does so by utilizing technologies that facilitate the recycling of WAS and remediation of oil-saturated soils. The company says its Waste-to-Energy Solutions convert toxic waste into sustainable oil recycling finite materials, decreasing landfill waste and reducing harmful emissions in the process.
Sky Quarry estimates that with shingles comprised of 25% bitumen oil, plus 9 million tons of sands, aggregate, and other construction solids, this waste stream is the equivalent of dumping 20 million barrels of oil into landfills every year. As such, the company reports that almost all of its revenue from WAS-recovered oil goes straight to the bottom line marking a key revenue stream beyond the $15-$60 per ton recycling fees paid by waste haulers.
Sky Quarrys Bitumen Extraction Technology feeds post-ground WAS into a mixing bin with the companys proprietary solvent. WAS is ground into coarse granular chunks, and the nails are removed before the WAS and solvent mixture is agitated into a fluid slurry that dissolves the asphalt bitumen. The solvent makes solids sink while the separated bitumen and solvent mixture rises. The remaining fluid is heated to separate the solvent from the oil, and the clean bitumen flux is sent to storage tanks. The solvent is captured for reuse.
Sky Quarrys Offset Program Recycling Asphalt On Behalf Of Homeowners
Furthering its ability to assist in the industrys WAS woes, Sky Quarry's Offset Program aims to lessen the footprint of re-roofing projects, ensure waste diversion in line with circular economy principles, while allowing homeowners to reduce their environmental footprint effortlessly.
Simply put, Sky Quarry will recycle asphalt shingle waste on homeowners behalf. Homeowners can go to the companys online store and buy the offset for any home in the U.S., with the fees being used to fund the recycling of the exact amount of tonnage that the homeowner is landfilling.
Sky Quarry is proud to be an innovator in the roofing industry leading the charge for reducing the damage inflicted by depositing these shingles into landfills, CEO David Sealock said. This offset program is a unique and valuable way that homeowners can have a beneficial impact on the environment today. In the future, Sky Quarry intends to create a collection network for shingles that spans the US. But in the meantime this offset program is a unique solution as we build out our system.
A leader in the industry, Sky Quarry is proving its skill at bridging sustainability and technology, delivering both environmental and societal benefits to multiple industries. For more information on the company and its Offset Program, visit skyquarryoffsetstore.com.
Featured photo by Brizmaker on Shutterstock.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
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