“More than 12 Million Crayons are made in the US, EVERY DAY! That’s 60 Tons of Crayons made EVERY DAY with petroleum based wax that eventually ends up in our landfills when they don’t have to!“(http://www.crazycrayons.com/recycle_program.html)
“Every year, up to 75,000 pounds of crayons get thrown away by restaurants and schools” (http://www.boredpanda.com/children-hospitals-recycling-crayon-initiative-bryan-ware/)
Not only does this have an impact on the toxicity of our oceans and earth, but it also means that we are using up oil resources that are finite (non-renewable). In a few decades we could be facing an oil crisis, so any recycling of petroleum based products (plastics, crayons, etc) will definitely reduce this effect.
There are businesses in the USA who recycle broken crayons into new crayons. Unfortunately, these are not the original companies who have created the products in the first place, hence only reducing the effect of the old crayons (which would otherwise have been sent to a landfill) rather than also reducing the resources used on this product.
Crayon Initiative, which delivers donated upcycled crayons to hospitals throughout California. http://www.boredpanda.com/children-hospitals-recycling-crayon-initiative-bryan-ware/
There is also a variety of different uses for old crayons for the craft minded including making candles, art work, marbling/dying, ornaments, playdough and pencil toppers (which can be found on the website below).