Product Code: PM4600
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
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Automotive Shredded Residue Market Insights
- 4.1. Automotive Shredded Residue Market - Technology Snapshot
- 4.2. Automotive Shredded Residue Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising research activities to create effective recycling processes
- 4.2.1.2. Advancements in chemical recycling
- 4.2.2. Restraints and Challenges
- 4.2.2.1. The decline in the ferrous and non-ferrous metal prices
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Automotive Shredded Residue Market Technology Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Automotive Shredded Residue Market, by Composition
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 5.3. Ferrous Metals
- 5.3.1. Global Automotive Shredded Residue Market, by Ferrous Metals, by Region, 2019-2032 (USD Billion)
- 5.3.2. Iron
- 5.3.2.1. Global Automotive Shredded Residue Market, by Iron, by Region, 2019-2032 (USD Billion)
- 5.3.3. Steel
- 5.3.3.1. Global Automotive Shredded Residue Market, by Steel, by Region, 2019-2032 (USD Billion)
- 5.4. Non-Ferrous Metals
- 5.4.1. Global Automotive Shredded Residue Market, by Non-Ferrous Metals, by Region, 2019-2032 (USD Billion)
- 5.4.2. Plastics
- 5.4.2.1. Global Automotive Shredded Residue Market, by Plastics, by Region, 2019-2032 (USD Billion)
- 5.4.3. Rubber
- 5.4.3.1. Global Automotive Shredded Residue Market, by Rubber, by Region, 2019-2032 (USD Billion)
- 5.4.4. Glass
- 5.4.4.1. Global Automotive Shredded Residue Market, by Glass, by Region, 2019-2032 (USD Billion)
- 5.4.5. Textile
- 5.4.5.1. Global Automotive Shredded Residue Market, by Textile, by Region, 2019-2032 (USD Billion)
- 5.4.6. Foam
- 5.4.6.1. Global Automotive Shredded Residue Market, by Foam, by Region, 2019-2032 (USD Billion)
- 5.5. Other Materials
- 5.5.1. Global Automotive Shredded Residue Market, by Other Materials, by Region, 2019-2032 (USD Billion)
6. Global Automotive Shredded Residue Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 6.3. Landfill
- 6.3.1. Global Automotive Shredded Residue Market, by Landfill, by Region, 2019-2032 (USD Billion)
- 6.4. Energy Recovery
- 6.4.1. Global Automotive Shredded Residue Market, by Energy Recovery, by Region, 2019-2032 (USD Billion)
- 6.5. Recycling
- 6.5.1. Global Automotive Shredded Residue Market, by Recycling, by Region, 2019-2032 (USD Billion)
7. Global Automotive Shredded Residue Market, by Technology
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 7.3. Air Classification
- 7.3.1. Global Automotive Shredded Residue Market, by Air Classification, By Region, 2019-2032 (USD Billion)
- 7.4. Optical Sorting
- 7.4.1. Global Automotive Shredded Residue Market, by Optical Sorting, By Region, 2019-2032 (USD Billion)
- 7.5. Magnetic Separation
- 7.5.1. Global Automotive Shredded Residue Market, by Magnetic Separation, By Region, 2019-2032 (USD Billion)
- 7.6. Eddy current Separation
- 7.6.1. Global Automotive Shredded Residue Market, by Eddy current Separation, By Region, 2019-2032 (USD Billion)
- 7.7. Screening
- 7.7.1. Global Automotive Shredded Residue Market, by Screening, By Region, 2019-2032 (USD Billion)
- 7.8. Others
- 7.8.1. Global Automotive Shredded Residue Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Automotive Shredded Residue Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Automotive Shredded Residue Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Automotive Shredded Residue Market - North America
- 8.3.1. North America: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.3.2. North America: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.3.3. North America: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.3.4. Automotive Shredded Residue Market - U.S.
- 8.3.4.1. U.S.: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.3.5. Automotive Shredded Residue Market - Canada
- 8.3.5.1. Canada: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4. Automotive Shredded Residue Market - Europe
- 8.4.1. Europe: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.3. Europe: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.4. Automotive Shredded Residue Market - UK
- 8.4.4.1. UK: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.5. Automotive Shredded Residue Market - France
- 8.4.5.1. France: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.5.3. France: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.6. Automotive Shredded Residue Market - Germany
- 8.4.6.1. Germany: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.7. Automotive Shredded Residue Market - Italy
- 8.4.7.1. Italy: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.8. Automotive Shredded Residue Market - Spain
- 8.4.8.1. Spain: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.9. Automotive Shredded Residue Market - Netherlands
- 8.4.9.1. Netherlands: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.4.10. Automotive Shredded Residue Market - Russia
- 8.4.10.1. Russia: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5. Automotive Shredded Residue Market - Asia Pacific
- 8.5.1. Asia Pacific: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.4. Automotive Shredded Residue Market - China
- 8.5.4.1. China: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.4.3. China: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.5. Automotive Shredded Residue Market - India
- 8.5.5.1. India: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.5.3. India: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.6. Automotive Shredded Residue Market - Malaysia
- 8.5.6.1. Malaysia: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.7. Automotive Shredded Residue Market - Japan
- 8.5.7.1. Japan: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.8. Automotive Shredded Residue Market - Indonesia
- 8.5.8.1. Indonesia: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.5.9. Automotive Shredded Residue Market - South Korea
- 8.5.9.1. South Korea: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.6. Automotive Shredded Residue Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.6.4. Automotive Shredded Residue Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.6.5. Automotive Shredded Residue Market - UAE
- 8.6.5.1. UAE: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.6.6. Automotive Shredded Residue Market - Israel
- 8.6.6.1. Israel: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.6.7. Automotive Shredded Residue Market - South Africa
- 8.6.7.1. South Africa: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.7. Automotive Shredded Residue Market - Latin America
- 8.7.1. Latin America: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.7.4. Automotive Shredded Residue Market - Mexico
- 8.7.4.1. Mexico: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.7.5. Automotive Shredded Residue Market - Brazil
- 8.7.5.1. Brazil: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
- 8.7.6. Automotive Shredded Residue Market - Argentina
- 8.7.6.1. Argentina: Automotive Shredded Residue Market, by Composition, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Automotive Shredded Residue Market, by Technology, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Automotive Shredded Residue Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Axion Ltd
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. CP Manufacturing Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Galloo
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Machinex Industries Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. MBA Polymers Inc
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Sims Limited
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Eriez Manufacturing Co.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Steinert
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Tomra Systems ASA
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Wendt Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development