Automotive Shredded Residue Market Overview:
Global Automotive Shredded Residue Market size and share is currently valued at USD 2.18 billion in 2024 and is anticipated to generate an estimated revenue of USD 3.24 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.1% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Rising Focus on Circular Economy: Growing demand for recycling and recovery of valuable materials from ASR.
- Stricter Environmental Regulations: Policies mandating reduction of landfill waste and promotion of sustainable automotive recycling.
- Technological Advancements in Material Sorting: Improved separation technologies for better recovery rates of metals and plastics.
- Growth in Electric Vehicle Recycling: Increasing ASR generation from end-of-life electric vehicles requiring advanced recycling methods.
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Key Companies in Automotive Shredded Residue Market:
- Axion Ltd
- CP Manufacturing Inc.
- Galloo
- Machinex Industries Inc.
- MBA Polymers Inc.
- Sims Limited
- Eriez Manufacturing Co.
- Steinert
- Tomra Systems ASA
- Wendt Corporation
Automotive Shredded Residue (ASR): Market Research Scope
The research on automotive shredded residue (ASR) examines its role in recycling and resource recovery. The study evaluates market trends driven by the circular economy, environmental regulations, and advancements in material sorting technologies. Regional analysis focuses on Europe and North America, where policies mandate landfill reduction and promote sustainable automotive recycling. The scope includes innovations in ASR recovery from electric vehicle components, such as batteries and lightweight materials. Competitive analysis highlights strategies by recycling companies and technology providers to enhance recovery rates and profitability while addressing sustainability challenges.
Automotive Shredded Residue Market Segmentation:
The automotive shredded residue (ASR) market is segmented by type, recovery process, end-use application, and region. Types include ferrous metals, non-ferrous metals, and non-recyclable residues. Recovery processes focus on mechanical, thermal, and chemical separation techniques. End-use applications include material recovery for automotive manufacturing, construction, and energy generation. Regional segmentation emphasizes Europe and North America due to stringent recycling regulations and advancements in ASR recovery technologies. The study also evaluates competitive strategies by recycling companies and technology providers to enhance recovery rates and profitability while meeting sustainability goals.
Automotive Shredded Residue Market, Composition Outlook (Revenue – USD Billion, 2019-2032)
- Ferrous Metals
- Iron
- Steel
- Non-Ferrous Metals
- Plastics
- Rubber
- Glass
- Textile
- Foam
- Other Materials
Automotive Shredded Residue Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Landfill
- Energy Recovery
- Recycling
Automotive Shredded Residue Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Air Classification
- Optical Sorting
- Magnetic Separation
- Eddy current Separation
- Screening
- Others
Automotive Shredded Residue Industry Developments:
In March 2023, Sims Metals, a leading recycling company, successfully acquired Northeast Traders. This acquisition enhances Sims Metals’ capabilities, enabling the processing and sale of up to 60,000 tonnes of nonferrous metal annually.
The Automotive Shredded Residue market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.