Triple Win: The social, economic and environmental case for remanufacturing
The process of remanufacturing is a growing sector in the UK that continues to face barriers to growth caused by continuous regulatory focus on lower denominators of the waste hierarchy such as recycling instead of encouraging minimisation of materials (through remanufacture, refurbishment and reconditioning).
The UK also has weak coordination between small centres of knowledge and expertise compared to China and the United States, where remanufacturing is more prevalent. This is inhibiting the UK from developing its full potential in remanufacturing.
There is huge potential for growth in the UK remanufacturing industry. Remanufacturing increases the potential for reshoring parts and products, provides opportunities in improving national resource resilience and has the potential for economic growth and the creation of thousands of skilled jobs.
Remanufacturing also has the potential to support small and medium-sized enterprises (SMEs). There are thus large-scale inward investment opportunities if the UK highlights its expertise and policy package to aid remanufacture.
In order to make the most of the opportunities from remanufacturing, work is required
both from Government and industry to ensure that barriers to development are
addressed. Government and industry should be ambitious in aiming for the UK to
become a world leader in this field.