Automotive Shredded Residue Market Share, Size, Trends, Industry Analysis Report, By Application (Landfill, Energy Recovery, Recycling); By Composition; By Technology; By Region; Segment Forecast, 2024 - 2032

Automotive Shredded Residue Market Share, Size, Trends, Industry Analysis Report, By Application (Landfill, Energy Recovery, Recycling); By Composition; By Technology; By Region; Segment Forecast, 2024 - 2032

The global automotive shredded residue market size is expected to reach USD 3.24 billion by 2032, according to a new study by Polaris Market Research. The report “Automotive Shredded Residue Market Share, Size, Trends, Industry Analysis Report, By Application (Landfill, Energy Recovery, Recycling); By Composition; By Technology; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The scope of the automotive shredded residue (ASR) market encompasses various aspects related to the recycling and processing of end-of-life vehicles. The market involves the recovery and utilization of materials from the residue generated during the shredding of automobiles. The primary focus of the market is on the efficient recycling and recovery of materials from automotive shredder residue. ASR processing involves the extraction of metals, plastics, rubber, and other valuable materials for reuse and resource recovery. The market aligns with environmental sustainability goals by promoting responsible waste management practices.

The rising circular economy measures by governments and the prevalence of automobiles at the end of their lives are expected to boost the automotive shredded residue market. The growing consumption of automobiles with the availability of cost-effective vehicles in the global space. The global target to achieve net-zero greenhouse gas emissions by 2050 is likely to promote the idea of sustainable automotive shredder residue recycling processes.

The growing research studies focusing on recycling plastics and other materials are positively driving market growth. The methods of automotive shredder residues to grab high-value metal recovery and energy. It utilized thermochemical processes, evaluated the techno-economic viability of the process, and found it effective in extracting valuable resources from automotive shredded residue and environmentally sustainable practices.

These types of research innovations are assisting governments and non-government organizations in lowering waste landfills, primarily automotive shredder residues, as they compose a mix of heterogeneous waste from the recycling of vehicles.

The ongoing investments by major players in the global market are likely to stimulate research and development activities, contributing to significant opportunities for automotive shredded residue market growth.

Rising collaborative studies on the development of new processes to recycle automotive shredder residues are driving new potential for automotive shredder residue market expansion. For instance, in April 2023, Eastman and partners unveiled the collaborative development of new carbon renewal technology (CRT) to generate sustainable materials from automotive shredded residue.

Automotive Shredded Residue Market Report Highlights

The recycling segment is expected to witness the highest growth during the forecast period due to the development of efficient recycling technologies.

In 2023, the non-ferrous metals segment held the largest market share due to the rising emphasis on plastic recycling.

The magnetic separation segment held a significant revenue share in 2023 due to its potential to offer higher-quality metal components.

In 2023, the region accounted for the largest market share. The presence and efficiency of recycling facilities equipped to handle ASR play a crucial role in determining the scope. Advanced technologies for separating and processing different materials within ASR contribute to a more comprehensive scope.

The Asia Pacific region is expected to witness the fastest CAGR during the projected period, attributable to the rising circular economy initiatives.

The global players include Axion Ltd, CP Manufacturing Inc., Galloo, Machinex Industries Inc., MBA Polymers Inc., Sims Limited, Eriez Manufacturing Co., Steinert, and more.

Polaris Market Research has segmented the automotive shredded residue market report based on application, composition, technology, and region:

Automotive Shredded Residue, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Landfill

Energy Recovery

Recycling

Automotive Shredded Residue, Composition Outlook (Revenue - USD Billion, 2019 - 2032)

Ferrous Metals

Iron

Steel

Non-Ferrous Metals

Plastics

Rubber

Glass

Textile

Foam

Other Materials

Automotive Shredded Residue, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Air Classification

Optical Sorting

Magnetic Separation

Eddy current Separation

Screening

Others

Automotive Shredded Residue, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of APAC

Latin America

Argentina

Brazil

Mexico

Rest of LA

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of MEA