A Review on the Economic Impact of Green Manufacturing Practices

Authors

  • Yu Zhang School of Materials Science and Engineering, Harbin Institute of Technology, China

DOI:

https://doi.org/10.61424/rjiee.v1i1.76

Keywords:

Green manufacturing, Cost savings, Economic impact, Waste reduction, Brand value

Abstract

The increasing environmental awareness and stringent regulatory frameworks have prompted industries to adopt green manufacturing practices. This review critically examines the economic impact of integrating sustainable procedures in manufacturing processes. By synthesizing a diverse range of empirical studies, it explores both the short-term and long-term economic outcomes associated with green manufacturing, including cost savings, revenue enhancement, and market competitiveness. The analysis reveals that while initial investments in green technologies and processes might be substantial, the long-term benefits often outweigh these costs through improved efficiency, waste reduction, and better compliance with environmental regulations. Additionally, firms engaging in green manufacturing tend to experience heightened brand value and customer loyalty, further contributing to their economic performance. This review also highlights the role of government incentives, technological innovations, and strategic partnerships in mitigating the economic challenges of green manufacturing. Ultimately, the study underscores that adopting green manufacturing practices not only fulfills corporate social responsibility but also drives economic gains, advocating for broader implementation across industries.

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Published

2024-06-19 — Updated on 2024-11-25

Versions

How to Cite

Zhang, Y. (2024). A Review on the Economic Impact of Green Manufacturing Practices. Research Journal in Civil, Industrial and Mechanical Engineering, 1(1), 01–09. https://doi.org/10.61424/rjiee.v1i1.76 (Original work published June 19, 2024)