1h Free Analyst Time
The Automotive Shredded Residue Market grew from USD 1.24 billion in 2023 to USD 1.32 billion in 2024. It is expected to continue growing at a CAGR of 6.29%, reaching USD 1.91 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
This complex mixture of materials consists of plastics, rubber, glass, textiles, wood, dirt, and residual metals that cannot be easily separated and recovered by traditional recycling methods. ASR poses significant environmental challenges owing to its non-biodegradable nature and the presence of hazardous substances, including heavy metals and flame retardants. As a result, proper management and disposal techniques are crucial in mitigating potential environmental impacts and promoting sustainability within the automotive industry. The generation of ASR is directly linked to the growing number of ELVs worldwide. The global automotive shredded residue market is growing rapidly with a number of vehicles and stringent environmental regulations regarding waste disposal and recycling. Moreover, increasing demand for recycled materials to save vehicle production costs is fueling demand for ASR technologies to be incorporated. Besides the positive factors, high capital investments for advanced recycling facilities and the complexities of recycling processes owing to the variable composition of ASR hinder market growth. To capitalize on emerging opportunities and overcome existing limitations in this dynamic industry landscape, market players are focusing on developing advanced separation technologies for the precise extraction of materials from complex mixtures present in ASR. Additionally, exploring novel processing methods and emphasizing sustainable manufacturing practices incorporating circular economy principles are propelling stronger future growth of the global automotive shredded residue market.
Regional Insights
In the Americas, particularly North America, the ASR market is driven primarily by strict environmental regulations enforced by organizations such as the Environmental Protection Agency (EPA) in the United States. These regulations mandate proper disposal of end-of-life vehicles (ELVs) and emphasize maximizing material recovery through recycling processes. As a result, automotive manufacturers are investing heavily in advanced recycling technologies that can efficiently separate and process various components of ASR into reusable materials. Additionally, new business models focused on auto recycling facilities have emerged to cater to this growing demand for efficient waste management solutions. On the other hand, Europe has a leading role in shaping the global ASR market dynamics owing to its comprehensive legislative framework aimed at reducing landfilling of ELVs and promoting recycling of valuable materials. The European Union's End-of-Life Vehicle Directive (2000/53/EC) sets clear targets for member countries regarding ELV treatment and material recovery rates. Consequently, several European nations have developed robust infrastructures for automotive shredding and residue processing, which contribute significantly to EMEA's overall growth in this sector. In addition to Europe's regulatory influence on the EMEA region's ASR industry growth, the Middle East and African countries are also increasingly focusing on establishing sustainable waste management practices attributed to rapid urbanization, leading to higher vehicle penetration rates. Moving towards the APAC region, emerging economies, including China and India, are experiencing rapid growth in the automotive industry. As vehicle production and consumption is on the rise across APAC, the automotive shredded residue market is expected to grow rapidly.Market Insights
Market Dynamics
- The market dynamics represent an ever-changing landscape of the Automotive Shredded Residue Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Increasing government and environmental agencies' initiatives to promote and incentivize recycling efforts
- Growing resource scarcity coupled with an increase in demand for recycled materials
Market Restraints
- High capital investment automotive shredder residue
Market Opportunities
- Ongoing technological advancements in post-shredding technologies
- Growing popularity of the circular economy coupled with a rise in electronic waste with rapid turnover of electronic devices and gadgets
Market Challenges
- Environmental concerns associated with post-shredder technologies
Market Segmentation Analysis
- Composition: Growing preference for lightweight plastics ASR to reduce emissions
- Technology: Air classification excels as a comprehensive recycling strategy to achieve optimal resource recovery from automotive shredded residue
Industry Insights
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Shredded Residue Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Shredded Residue Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Recent Developments
Eastman Announces Completion of Automotive Recycling Project
Eastman Chemical Company, the United States Automotive Materials Partnership LLC (USAMP), PADNOS, and Yanfeng International Automotive Technology Co. Ltd. have successfully completed a closed-loop recycling project for automotive mixed plastic waste. This initiative has showcased the capability to convert the remaining 10% to 20% (ASR), which is left through traditional mechanical recycling streams into synthesis gas (syngas).PRI Invests USD 12M to Serve Auto and Electronics Markets
Plastic Recycling Inc. annouced of making substantial investments in their recycling capabilities to meet the growing demand for automotive shredded residue. With a new compounding facility in Indianapolis and a production line in Spartanburg, S.C., Plastic Recycling is aiming to increase their recycling capacity by an impressive 60 million pounds per year. As part of a USD 10 million project, Plastic Recycling is instalingl an extrusion line and cutting-edge e-plastic sorting capabilities, which will allow PRI to produce compounds that meet the stringent specifications set by OEMs for use in automobiles and electronics. Separately, PRI aims to spend another USD 2 million installing a line in Spartanburg, S.C. to shred, wash and sort plastics from electronics, electrical appliances and vehicles.Sims Expects to Bring Pilot ASR Gasification Plant Online in 2023
Sims Limited has announced that the revised start-up date of their first gasification plant, located in Rocklea, Queensland, Australia, is set for February 2023, and expected to go online in 2025. This plant is the company's first full-scale commercial facility to have a capacity of 120,000 tonnes of automotive shredder residue (ASR).Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Shredded Residue Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.Key Company Profiles
The report delves into recent significant developments in the Automotive Shredded Residue Market, highlighting leading vendors and their innovative profiles. These include Allcontrols Ltd, Axion Ltd., Bernegger Group, BHS-Sonthofen GmbH, Danieli Centro Recycling, Eldan Recycling A/S, Fushun Ejet Magnetic Equipment Co.,Ltd, Galloo N.V., Klean Industries Inc, KONOIKE TRANSPORT, MBA Polymers Inc., MG Recycling srl, Minergy Corporation Limited, Nissan Motor Co., Ltd., SCHOLZ RECYCLING GMBH, Sicon GmbH, Sims Limited, SRW Metal Float GmbH, STEINERT GmbH, swissRTec AG, Tomra Systems ASA, Toyota Motor Corporation, Wendt Corporation, and Zato S.p.A..Market Segmentation & Coverage
This research report categorizes the Automotive Shredded Residue Market to forecast the revenues and analyze trends in each of the following sub-markets:Composition
- Metals
- Plastics
- Rubber
- Textile
Technology
- Air Classification
- Eddy Current Separation
- Magnetic Separation
- Optical Sorting
- Screening
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Additional Product Information:
- Purchase of this report includes 1 year online access with quarterly updates
- This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website
Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Automotive Shredded Residue Market, by Composition
7. Automotive Shredded Residue Market, by Technology
8. Americas Automotive Shredded Residue Market
9. Asia-Pacific Automotive Shredded Residue Market
10. Europe, Middle East & Africa Automotive Shredded Residue Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Allcontrols Ltd
- Axion Ltd.
- Bernegger Group
- BHS-Sonthofen GmbH
- Danieli Centro Recycling
- Eldan Recycling A/S
- Fushun Ejet Magnetic Equipment Co.,Ltd
- Galloo N.V.
- Klean Industries Inc
- KONOIKE TRANSPORT
- MBA Polymers Inc.
- MG Recycling srl
- Minergy Corporation Limited
- Nissan Motor Co., Ltd.
- SCHOLZ RECYCLING GMBH
- Sicon GmbH
- Sims Limited
- SRW Metal Float GmbH
- STEINERT GmbH
- swissRTec AG
- Tomra Systems ASA
- Toyota Motor Corporation
- Wendt Corporation
- Zato S.p.A.
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 184 |
Published | June 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 1.32 Billion |
Forecasted Market Value ( USD | $ 1.91 Billion |
Compound Annual Growth Rate | 6.2% |
Regions Covered | Global |