Automotive Shredded Residue (ASR) Market worth $1.6 Billion by 2028 - At a CAGR of 6.6%
Automotive Shredded Residue (ASR) Market Leaders
The Automotive shredded residue (ASR) market is projected to reach USD 1.6 billion by 2028, at a CAGR of 6.6% from USD 1.1 billion in 2023. The market growth is driven by factors such as regulatory pressure from government and environmental agencies, continuous technological advancement in post shredding technology, rising resource scarcity, and increasing demand for recycled materials.
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Browse 120 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on "Automotive Shredded Residue (ASR) Market by Application (Landfill, Energy recovery, Recycling), Composition, Technology ( Air classification, Optical sorting, Magnetic separation, Eddy current separation, Screening) and Region - Global Forecast"
Recent Developments in Automotive Shredded Residue (ASR) Market Industry
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The key players in this market are Tomra Systems ASA (Norway), Gallo (Belgium), Sims Limited (Australia), MBA Polymers Inc.(US), and Binder+Co. (Austria), PLANIC (Japan), Axion Ltd.(UK), SRW Metal float GmbH (Germany), Machinex Industries, Inc. (Canada), Wendt Corporation (US), CP Manufacturing Inc. (US), BT-Wolfgang Binder GmbH (Austria), Agilyx (US), Steinert (Germany), etc. These companies demonstrate a robust presence in their local markets and are actively exploring opportunities for geographical diversification to expand their operations. Their strategic emphasis lies in expanding their market footprint by introducing new products and persuing different avenues for growth.
Tomra Systems ASA - Established in 1972, Tomra Systems ASA initially focused on designing, manufacturing, and selling reverse vending machines (RVMs) for the automated collection of used beverage containers. Today, the company has evolved into a technology-driven company that plays a crucial role in advancing the circular economy. They offer cutting-edge solutions in collection and sorting systems, as well as food processing, incorporating sensor-based sorting and grading technology. The company is headquartered in Asker Municipality in Norway.
The company operates through three primary business segments: Collection, Recycling, and Food. It offers a diverse range of solutions in areas such as Food, Mining, Reverse vending, and Recycling.
In total, Tomra has installed around 105,000 systems across more than 100 markets globally. The Tomra Group has a global workforce of 5,000 employees and is a publicly-traded company. TOMRA has a widespread presence, spanning all continents and offering its services in regions like Asia-Pacific, Europe, The Americas, and beyond.
Gallo SA - Galloo is a prominent European recycling company specializing in ferrous and non-ferrous metals. The company utilizes post-shredder technology, which involves additional processing of materials after shredding. Galloo company boasts a robust plastics recycling production capacity of 90,000 tons per year. Galloo Plastics, a specialized division within the Galloo Group, specializes in plastic processing. Through strategic investments, Galloo Recycling Group boasts an extensive network with over 40 divisions spread across Belgium, France, and The Netherlands.
Sims Limited - Established in 1917, Sims Limited stands as a prominent global figure in metal recycling, as well as offering circular solutions for technology and emerging as a leader in renewable energy. Sims Limited also engages in the processing of ferrous metals for subsequent resale, employing a range of techniques such as sorting, shredding, cutting, torching, baling and breaking. The company’s focal point on employing advanced machine sorting methods like Eddy Current Systems for industrial, consumer and vehicle scrap metal enabling it to achieve elevated rates of metal recovery. Operating under a subsidiary of Sims Limited, Sims Resource Renewal shares a collective mission to contribute to a waste free world and the conservation of our planet. The company’s objective entails utilizing over 1 million tons of Automotive Shredder Residue (ASR) annually by 2030, transforming this material into new innovative products.With a workforce of 4,000 individuals, Sims Limited has over 260 facilities spanning across 15 countries. The company possesses processing facilities across the Americas, EMEA and APAC regions.
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MBA Polymers Inc - In1997, MBA Polymers Inc. was established in California. The company started operating as a modest production facility in Richmond, Virginia. Through years of unwavering commitment and strategic investments, MBA Polymers Inc. emerged as a global frontrunner in recycling plastics from end-of-lfe durable goods including computers, electronic appliances and automobiles. MBA Polymers Inc. serves as both a research and development center and a hub for managing licenses and intellectual property. The company has obtained over 40 patents worldwidefor its advancements.
Since 2001, MBA Polymers Inc. has established five clean-tech facilities in Germany, Austria, China,The UK and the US. These facilities have an impressive annual capacity of over 150,000 tons, which makes them the most advanced plastic recycling facilities in the world.
Binder+Co AG - Binder+Co. is a global leader in providing sorting and processing solutions for industries such as recycling, mining, and raw materials. With a strong focus on sustainability and resource efficiency, the company designs, manufactures, and supplies advanced equipment and technologies that contribute to the effective sorting and processing of materials, promoting a circular economy and environmental responsibility. The company operates in the key business segments of packaging technology, processing technology and environmental technology. The company provides its sorting equipment through the environmental technology segment. The company specializes in the development and production of cutting-edge sorting equipment and technologies. These solutions are designed to efficiently separate and classify materials based on their properties like shape,size, colouer and composition.
Binder+Co. has a strong global presence and serves customers in various regions worldwide. The company is headquartered in Gleisdorf (Austria). In addition to its central location in Austria, the company has well established international footprint with subsidiaries and sales offices in key regions including Europe, Asia, North America, South America and Africa.
Automotive Shredded Residue (ASR) Market New Revenue Pockets
The market size of the automotive shredded residue (ASR) market is projected to reach USD 1.6 billion by 2028, at a CAGR of 6.6% from USD 1.1 billion in 2023. The regulatory pressures from governments and environmental agencies, continuous technological advancement in post shredder technology, rising resource scarcity, and increasing demand for recycled materials will contribute to the rapid growth in the demand for automotive shredded residue (ASR) market.
Based on application, the automotive shredded residue (ASR) market has been segmented into landfill, energy recovery, and recycling.
Recycling often takes the lead as the primary segment in the automotive shredded residue (ASR) market for several compelling reasons. Firstly, mounting global awareness of the environmental repercussions linked to waste disposal, especially landfilling, has intensified the push for recycling as a more sustainable waste management solution, considering issues like soil and groundwater contamination, greenhouse gas emissions, and habitat disruption. Secondly, recycling serves as a means to salvage valuable resources from discarded materials, encompassing metals, plastics, paper, and other recyclables, with post shredder technologies pivotal in optimizing the sorting and processing of these materials, rendering recycling economically viable. Thirdly, recycling enjoys support from various governments and municipalities worldwide, which have imposed recycling targets and regulations to diminish waste and bolster recycling, often incentivizing the development and adoption of advanced post shredder technologies to augment recycling efficiency. Furthermore, heightened consumer consciousness regarding environmental concerns has fueled demand for products and packaging crafted from recycled materials, driving businesses to incorporate recycled content and further propelling the need for recycling technologies. Circular economy initiatives are gaining traction, with recycling being a cornerstone, and post shredder technologies being indispensable in achieving recycling objectives. The scarcity of certain materials, such as rare earth metals and minerals, underscores recycling's significance as a sustainable and cost-effective means to recover these materials from discarded products. Lastly, recycling aligns with long-term sustainability goals by curbing the necessity for virgin resource extraction and reducing greenhouse gas emissions tied to raw material production, further bolstering its significance.
Based on composition, the automotive shredded residue (ASR) market has been segmented into metals, plastics, rubber, textiles, and others. Plastics accounted for the largest share, in terms of value, of the global market in 2023.
Globally, there has been a mounting emphasis on recycling and reducing plastic waste. Governments, businesses, and consumers have exhibited heightened awareness of plastics' environmental impact, prompting intensified efforts to recycle and process plastics. Many countries are enacting regulations and providing incentives to promote recycling and the utilization of recycled materials. This supportive regulatory environment has the potential to stimulate investments in post shredder technologies geared toward plastics. The burgeoning concept of a circular economy, emphasizing the reuse and recycling of materials rather than disposal, has gained momentum. This has encouraged the development of technologies capable of efficiently processing and recycling plastics into new products. Heightened public awareness of plastic pollution, particularly in oceans and ecosystems, has triggered calls for more effective recycling and waste management solutions. This heightened concern drives investments in technologies better equipped to handle post shredder plastics.
Based on technology, the automotive shredded residue (ASR) market has been segmented into optical sorting, eddy current separation, magnetic separation, air classification, and screening among others. Magnetic separation accounted for the largest share, in terms of value, of the global market in 2023.
Magnetic separation is exceptionally effective at recovering ferrous metals from shredded materials. Ferrous metals, such as iron and steel, are common in vehicles and other scrap materials, making up a significant portion of the recyclable materials. Magnetic separators can quickly and efficiently extract these metals from the shredded scrap. Magnetic separation can achieve a high level of purity in the recovered metals. This high purity is essential for recycling metals into new automotive components and other applications where material quality is crucial. Magnetic separation is a non-destructive method, which means that it doesn't alter the physical properties of the materials being separated. This is important when recovering valuable materials like metals from shredded automotive waste, as it allows for the reuse of these materials without compromising their integrity. Magnetic separation processes can be easily automated, making them suitable for large-scale operations. Automated magnetic separators can continuously process large volumes of shredded materials, increasing efficiency and reducing labor costs. Magnetic separation is often a cost-effective method for metal recovery, particularly for ferrous metals. The equipment required for magnetic separation is relatively simple and can be integrated into existing recycling facilities with minimal additional investment. By efficiently recovering ferrous metals, magnetic separation reduces the need for virgin metal extraction and production, which has significant environmental benefits in terms of energy savings and reduced greenhouse gas emissions.
North America is the largest growing market for post shredder technology. The market for this region is segmented into US, Canada and Mexico. North America, particularly the United States and Canada, boasts a robust industrial and manufacturing sector that generates substantial industrial and post-consumer waste. The efficient processing and recycling of this waste, facilitated by post shredder technology, are imperative. North America maintains a multifaceted regulatory landscape with diverse federal, state, and provincial regulations governing waste management and recycling. This complexity necessitates advanced technologies to meet regulatory standards and optimize recycling operations. North American consumers and businesses have demonstrated an escalating consciousness of environmental issues and sustainability, resulting in heightened demand for recycling and waste reduction solutions, thereby bolstering the automotive shredded residue (ASR) market. Industries such as automotive, manufacturing, and packaging within North America exhibit substantial demand for recycled materials, driving the development of efficient technologies for processing post shredder materials.
The key players in this market are Tomra Systems ASA (Norway), Gallo (Belgium), Sims Limited (Australia), MBA Polymers Inc.(US), and Binder+Co. (Austria), PLANIC (Japan), Axion Ltd.(UK), SRW Metal float GmbH (Germany), Machinex Industries, Inc. (Canada), Wendt Corporation (US), CP Manufacturing Inc. (US), BT-Wolfgang Binder GmbH (Austria), Agilyx (US), Steinert (Germany), etc. New product launches and expansions are the major growth strategies adopted by the key players in the market.
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