Press release
Global Automotive Shredder Residue (ASR) Market Gears Up for Growth: Projected to Hit $1.8 Billion by 2032 at 5.8% CAGR
Automotive Shredded Residue (ASR) Market
Allied Market Research published a report, titled, "Automotive Shredded Residue (ASR) Market by Application (Landfill, Energy Recovery and Recycling), Composition (Metals, Plastics, Rubber, Textile and Others), and Technology (Air Classification, Optical Sorting, Magnetic Separation, Eddy Current Separation, Screening and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the automotive shredded residue (ASR) market was valued at $1.1 billion in 2023, and is estimated to reach $1.8 billion by 2032, growing at a CAGR of 5.8% from 2024 to 2032.
๐ฐ Download Sample Pages - https://www.alliedmarketresearch.com/request-sample/A323762
Prime determinants of growth
The volume of end-of-life vehicles generated directly impacts automotive shredded residue (ASR) production. Higher vehicle sales and production rates contribute to increased ASR generation, driving market growth. Furthermore, innovations in shredding, sorting, and recycling technologies improve the efficiency of ASR recovery processes, driving market growth by increasing the volume and quality of materials recovered from end-of-life vehicles. Increase in consumer awareness of environmental issues and sustainability concerns is driving demand for recycled materials, including ASR. As consumers and businesses prioritize sustainable practices, the demand for ASR recycling services and recycled products increases, stimulating market growth.
Recent Key Strategies and Developments
In June 2023, Torma system ASA unveiled its latest innovation Autosport Pulse. This cutting-edge technology machine incorporates dynamic laser induced breakdown spectroscopy (LIBS) and is designed for high throughput sorting of aluminum alloys and opens up possibilities for green aluminum production.
In June 2023, Galloo joint ventured with Stellantis to facilitate the end-of-life vehicles recycling. The service is scheduled for a late 2023 launch and is set to target France, Belgium and Luxembourg expanding its operation in Europe
In October 2022, MBA Polymers Inc. has inaugurated its third facility in the UK, situated in the EMR Duddeston site in central Birmingham. This new site provides an opportunity for UK based manufactures to minimize plastic waste generation during their production process and procure environmentally friendly recycled materials through a closed loop supply chain for postindustrial plastic
Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/A323762
By Application
The recycling segment is expected to grow faster throughout the forecast period.
The recycling segment is anticipated to experience growth in the Automotive Shredded Residue (ASR) market, due to innovations in shredding, sorting, and processing technologies have significantly improved the efficiency and effectiveness of ASR recycling processes. Advanced recycling technologies enable the recovery of a higher percentage of materials from end-of-life vehicles, driving market growth in the recycling segment. Furthermore, increase in consumer and industry demand for recycled materials, including metals and plastics recovered from ASR, is driving market growth in the recycling segment. Recycled materials offer cost savings, energy efficiency, and environmental benefits compared to virgin materials, further fueling the demand for ASR recycling services.
By Composition
The plastic segment is expected to grow faster throughout the forecast period.
The plastic segment is anticipated to experience growth in the automotive shredded residue (ASR) market, owing to modern vehicles contain a significant number of plastic components, including interior trim, bumpers, panels, and various other parts. As a result, plastic constitutes a substantial portion of the shredded residue generated from end-of-life vehicles, driving the market share of the plastic segment. Plastics recovered from end-of-life vehicles are highly recyclable, making them attractive for recycling and reuse. Advanced recycling technologies enable the efficient separation, sorting, and processing of plastic materials from ASR, contributing to the dominance of the plastic segment in the market.
By Technology
The magnetic separation segment is expected to grow faster throughout the forecast period.
The magnetic separation segment is anticipated to experience growth in the automotive shredded residue (ASR) market. Magnetic separation is highly effective in extracting ferrous metals from ASR due to their magnetic properties. Since ferrous metals, such as iron and steel, constitute a significant portion of ASR, magnetic separation is crucial for recovering these valuable materials, driving its market share. Magnetic separation processes are known for their high efficiency and throughput rates, enabling large volumes of ASR to be processed rapidly. This efficiency makes magnetic separation a preferred method for ASR processing, contributing to its dominance in the market.
By Region
Asia-Pacific to maintain its dominance by 2033.
The Asia-Pacific region, particularly countries like China and India, has experienced rapid industrialization and urbanization, leading to increased vehicle ownership and end-of-life vehicle generation. This high volume of vehicles contributes to a larger ASR market in the region. Asia-Pacific is home to some of the world's largest automotive manufacturers and markets. The region's booming automotive industry leads to higher vehicle production and sales, consequently generating more ASR. With increasing environmental awareness and concerns about pollution, governments in the Asia-Pacific region have implemented stringent regulations regarding waste management and recycling. This regulatory environment has spurred the growth of the ASR market as automotive recycling becomes more imperative.
Procure Complete Research Report Now: https://www.alliedmarketresearch.com/automotive-shredded-residue-market/purchase-options
Players: -
GFG Alliance
LKQ Corporation
Schnitzer Steel Industries, Inc.
Metso Outotec
Sims Limited
Kuusakoski Group
European Metal Recycling
Liberty Steel Group
Toyota Tsusho Corporation
Galloo Group
The report provides a detailed analysis of these key players in the global Automotive Shredded Residue (ASR) s market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Explore More Trending Report
https://www.alliedmarketresearch.com/ADAS-market - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/electric-vehicle-motor-market - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/automotive-brake-system-market-A06012 - Global Opportunity Analysis and Industry Forecast, 2019-2026
Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Automotive Shredder Residue (ASR) Market Gears Up for Growth: Projected to Hit $1.8 Billion by 2032 at 5.8% CAGR here
News-ID: 3948969 • Views: โฆ
More Releases from Allied Market Research
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices.
Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529
What Are Urinary Drainage Bags?
Urinary drainage bags are specialized medical devices designed to collectโฆ
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031.
The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growthโฆ
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil โฆ
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strictโฆ
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of โฆ
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise inโฆ
More Releases for ASR
Global Automatic Speech Recognition(ASR) Software Market Size by Application, Ty โฆ
According to Market Research Intellect, the global Automatic Speech Recognition(ASR) Software market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The automatic speech recognition (ASR) software market is witnessing rapid growth, driven by increasing adoption ofโฆ
DOGU Expands into North American Market with AI-Powered Safety Robots (ASR)
Image: https://lh7-rt.googleusercontent.com/docsz/AD_4nXelRUnv2G7Z6q_upI3mj5Cr3LdG7EbH-mcE4ZWLkugxSkuMFrVp6hwmwJYgN1DOiXmPZDCzNAmWc-P6qxRoY9kvjRvbdS2mCBFDBTaOoOc0auvgEOpLOMwmovPrvK5ri9sv3-QqV4rbt8_k_xBMLw?key=LQmt0Swt38ehnp9_0cnbuHW2
Photo 1. In November, during the 'INVESTMENT INSIGHT-info session' event at the K-Startup Center in Seattle, attendees had the opportunity to be photographed with DOGU's robot, 'iroi'
DOGU, a South Korean provider of AI-powered Safety Robots (ASR) led by CEO Jin-hyo Kim, is making significant strides in the North American market as global demand for patrol robots accelerates.
Since its founding in 2017, DOGU has been at the forefront of developingโฆ
Automotive Shredded Residue (ASR) Market to Reach USD 1.8 Billion by 2032
The global ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ก๐ซ๐๐๐๐๐ ๐๐๐ฌ๐ข๐๐ฎ๐ (๐๐๐) ๐๐๐ซ๐ค๐๐ญ size was valued at $1.1 billion in 2023, and is projected to reach $1.8 Billion by 2032, growing at a CAGR of 5.8% from 2024 to 2032. The volume of end-of-life vehicles generated directly impacts automotive shredded residue (ASR) production. Higher vehicle sales and production rates contribute to increased ASR generation, driving market growth. Furthermore, innovations in shredding, sorting, and recycling technologies improveโฆ
Brown Sugar Market Promising Growth Anticipated by 2031 - Cargill Inc, ADM, ASR โฆ
The Brown Sugar Market study by DataM Intelligence offer an in-depth analysis of the market, presenting insightful observations, statistics, historical data, and industry-validated market insights. The report delves into the competitive positioning of key companies, examining factors such as product offerings, pricing strategies, financial health, product portfolios, growth initiatives, and geographical reach.
Download a Free sample PDF (Use Corporate email ID to Get Higher Priority) at: - https://datamintelligence.com/download-sample/brown-sugar-market
What is the projectedโฆ
Autonomous Security Robots (ASR) Market Opportunities, Sales, Revenue, Gross Mar โฆ
Autonomous Security Robots (ASRs) are advanced robotic systems designed to perform security and surveillance tasks autonomously, without direct human intervention. These robots are equipped with various sensors, artificial intelligence (AI), and autonomous navigation capabilities to patrol and monitor areas, detect security threats, and respond to incidents in real-time.
Global Leading Market Research Publisher QYResearch announces the release of its lastest report "Global Autonomous Security Robots (ASR) Market Report, History and Forecastโฆ
Automatic Speech Recognition (ASR) Software Market Latest Trends & Challenges | โฆ
A latest study released by HTF MI on Global Automatic Speech Recognition Market covering key business segments and wide scope geographies to get deep dive analysed market data. The study is a perfect balance bridging both qualitative and quantitative information of Automatic Speech Recognition market. The study provides historical data (i.e. Volume** & Value) from 2013 to 2018 and forecasted till 2025*. Some are the key & emerging players thatโฆ
