Automotive Shredded Residue (ASR) Market

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 to 2028

Report Code: CH 8786 Sep, 2023, by marketsandmarkets.com

The Automotive shredded residue (ASR) market is projected to reach USD 1.6 billion in 2028, at a CAGR of 6.6% from USD 1.1 billion in 2023. The market is mainly led by the significant usage of post shredder technology in various end-use industries. The regulatory pressure from government and environmental agencies, continuous technological advancement in post shredding technology, rising resource scarcity and increasing demand for recycled materials are driving the market for post shredder technology.

Automotive Shredded Residue (ASR) Market

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Attractive Opportunities in the Automotive Shredded Residue (ASR) Market

Automotive Shredded Residue (ASR) Market

Market Dynamics

Driver: Regulatory pressures from governments and environmental agencies.

Regulatory pressure refers to the increasing legal requirements and standards set by governments and environmental agencies to address environmental issues, waste management, and sustainable practices. As concerns about environmental degradation and resource depletion have grown, authorities across the globe have taken a proactive approach to tackle these challenges. One of the areas where these regulations have had a significant impact is in waste management, particularly in the context of landfill waste and recycling. Landfills have long been a primary method of waste disposal, but they present several environmental challenges. When non-recyclable waste is sent to landfills, it decomposes over time, releasing harmful greenhouse gases like methane, which contributes to climate change. Moreover, landfills take up vast amounts of land, can contaminate soil and groundwater, and pose potential risks to human health and wildlife. To combat these issues, governments of different countries have started imposing stricter regulations on the amount of waste that can be sent to landfills. Many regions have set targets to reduce landfill waste significantly or even achieve zero waste to landfills. This approach is part of broader waste management strategies aimed at moving towards more sustainable practices. Utilizing post-shredder technologies helps divert significant amounts of waste from landfills, contributing to the reduction of landfill waste and associated environmental issues. Governments and environmental agencies recognize the potential benefits of recycling and have been actively promoting and incentivizing recycling efforts. Adopting post-shredder technologies enables companies and industries to comply with stricter regulations related to waste disposal and recycling, avoiding potential penalties and legal consequences. By incorporating post-shredder technologies into the waste management process, industries demonstrate their commitment to sustainability and environmental responsibility, aligning with the broader goals of regulatory frameworks.

Continuous technological advancement in post shredding technologies.

The continuous technological advancements have revolutionized the post-shredding technology market, making the recycling process more efficient, cost-effective, and environmentally friendly. By incorporating these cutting-edge technologies, plastic recycling facilities can significantly increase their material recovery rates, produce high-quality recycled plastics, and contribute to a more sustainable waste management ecosystem. Automation has played a significant role in improving post-shredder material recovery. Robotic systems and artificial intelligence (AI) algorithms are employed to control the sorting process efficiently. Automated systems can handle large volumes of waste materials, reduce manual labor, and enhance the accuracy of material identification. Modern post-shredder technology facilities often incorporate smart technologies, such as Internet of Things (IoT) devices and data analytics, to optimize the recovery process and improve overall efficiency. By analyzing operational data, AI algorithms can predict equipment maintenance needs and schedule maintenance activities proactively. This approach minimizes downtime and ensures the continuous operation of the facility. The combination of improved recovery rates, enhanced resource utilization, and efficient sorting methods has made post-shredder technologies more economically viable.

Rising resource scarcity and increasing demand for recycled materials:

As human populations grow and economies expand, the demand for the resources has increased significantly, leading to their depletion and higher extraction costs. This scarcity is further exacerbated by inefficient resource management and wasteful consumption practices. In response to the challenges posed by resource scarcity and generation of  plastic waste, there has been a growing emphasis on sustainable practices, including recycling and reusing materials. Recycling offers a way to extend the life cycle of resources by recovering valuable materials from waste streams and reintroducing them into the production process. Post-shredder technologies contribute to the increasing demand for recycled materials by efficiently processing ASR and recovering valuable metals and other materials. These recovered materials are of high quality and can be reintroduced into the supply chain for various applications.

Restraint: High initial investments and complexity of recycling waste composition.

The high initial investment required to implement post-shredder technology facilities is one of the significant restraints in the market. This investment encompasses various costs associated with setting up and operating the facility, purchasing advanced equipment, obtaining necessary permits, and ensuring compliance with regulations. Obtaining the necessary permits to operate a recycling facility can involve administrative expenses, consulting fees, and other related costs. Compliance with environmental regulations and waste management standards also requires investments in pollution control measures, worker safety, and waste disposal practices. As the post-shredder technology market evolves, new advancements and innovations may become available. Investing in the latest technologies and keeping up with industry standards may add to the initial capital outlay. The composition of ASR is highly complex, consisting of various materials, such as metals, plastics, rubber, glass, and other components, all mixed together after the shredding process. This complexity poses several challenges in the efficient recovery of valuable materials from ASR.

Environmental concerns and regulatory compliances

Environmental concerns related to post-shredder technologies are issues that arise when the recycling and material recovery processes are not managed properly, potentially leading to negative environmental impacts. These concerns are crucial to address as they can affect local air quality, soil contamination, and overall environmental sustainability. Post-shredder technology facilities must adhere to local, national, and international environmental regulations. Compliance ensures that the facility meets emission standards, waste disposal guidelines, and other environmental requirements, reducing the environmental impact and potential legal consequences.

Opportunity: Circular economy initiatives coupled with growing demand for e-waste recycling .

Post-shredder technologies play a pivotal role in the circular economy by enabling the recovery of valuable materials from waste streams. This circular economy approach aims to reduce reliance on virgin resources, conserve energy, and minimize the environmental impact of extraction and manufacturing. By efficiently sorting and separating materials, post-shredder technologies contribute to the recycling of metals, plastics, and other materials that can be reintroduced into the manufacturing process. As the circular economy gains momentum, the demand for post-shredder technologies is expected to rise, as they align perfectly with the principles of resource conservation and waste reduction thus achieving these circular economy goals.

Electronic waste (e-waste) is one of the fastest-growing waste streams globally, driven by the rapid turnover of electronic devices and gadgets. E-waste contains valuable materials such as precious metals, copper, and rare earth elements. Proper recycling of e-waste is essential to recover these valuable resources and prevent environmental pollution. The growth in e-waste recycling presents a significant opportunity for post-shredder technologies. By contributing to e-waste recycling efforts, post-shredder technologies can help reduce the pressure on natural resources, conserve valuable materials, and minimize the environmental impact of e-waste disposal. The increasing awareness of e-waste's environmental consequences is likely to drive the demand for post-shredder technologies in the e-waste recycling sector.

Challenge: High energy consumption and cost.

The energy consumption and associated costs in post-shredder technologies are significant challenges for the industry. Recycling processes, including shredding, sorting, and material recovery, require substantial amounts of energy to operate effectively. Shredding waste materials and operating sorting and separation equipment are energy-intensive processes. The mechanical force required for shredding and the operation of conveyors, motors, and sensors in sorting machines contribute to the overall energy demand. Recycling facilities need to operate continuously to maintain efficiency and meet processing demands. This prolonged operation leads to high energy consumption over time. Additionally, the maintenance of equipment and machinery is essential to ensure optimal performance, but it also requires additional energy. The source of energy used in recycling facilities can impact on their operating costs. The cost of electricity, natural gas, or other energy sources can fluctuate over time, affecting the overall operational expenses of recycling facilities.

Market Ecosystem

A market ecosystem encompasses the intricate web of individuals, enterprises, and various entities engaged within a specific market. This intricate network encompasses a diverse range of participants, including producers, distributors, retailers, customers, and regulatory bodies, all collaborating to exchange goods, services, and information. The notable players in this market are those with established financial stability, cutting-edge technologies, a robust global marketing network, and a proven track record in sales. The key players in this market are Tomra Systems ASA (Norway), Gallo (Belgium), Sims Limited (Australia), MBA Polymers Inc.(US), 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).

Automotive Shredded Residue (ASR) Market Ecosystem

"Recycling is the fastest growing application  for automotive shredded residue in 2023, in terms of value."

Recycling allows for the recovery of valuable resources from discarded materials, including metals, plastics, paper, and more. Post shredder technologies play a crucial role in efficiently sorting and processing recyclables, making recycling economically viable and helping conserve valuable resources. Governments and municipalities around the world have established recycling objectives and regulations aimed at waste reduction and the promotion of recycling. These regulatory measures frequently incentivize the advancement and uptake of cutting-edge post shredder technologies to improve the efficiency of recycling processes. The idea of a circular economy, characterized by the reuse and recycling of materials to minimize waste, is gaining traction. Recycling stands as a cornerstone of this approach, with post-shredder technologies playing a pivotal role in realizing recycling objectives. Increasing consumer awareness and environmental concerns have resulted in a heightened desire for products and packaging crafted from recycled materials. This incentivizes businesses to integrate recycled content into their offerings, further driving the demand for recycling technologies. The scarcity and rising costs associated with specific materials, such as rare earth metals and certain minerals extracted from natural sources, are prompting the adoption of recycling as a sustainable and cost-efficient means of recovering these resources from discarded products.

"Magnetic separation is the largest technology type for automotive shredded residue (ASR) market in 2023, in terms of value."

Magnetic separation accounted for the largest market share in the global automotive shredded residue (ASR) market, in terms of value, in 2023. Magnetic separation stands as the foremost post-shredder technology in recycling and waste management for several compelling reasons. Firstly, it excels in the recovery of ferrous metals from shredded materials, a vital component of recyclables, particularly in automotive scrap, due to its ubiquity. Second, magnetic separation boasts high purity levels in reclaimed metals, crucial for quality-sensitive applications like automotive component manufacturing. Notably, it's non-destructive, preserving material integrity during recovery. Third, its seamless automation capabilities render it suitable for large-scale operations, reducing labor costs while efficiently processing substantial volumes of shredded materials. Moreover, magnetic separation proves cost-effective, with relatively simple equipment integration into existing recycling facilities. Its environmentally friendly profile is evident in the diminished need for virgin metal extraction and reduced greenhouse gas emissions. Additionally, its versatility extends beyond ferrous metals, adaptable to remove other magnetic materials like specific stainless steel variants, nickel, and cobalt. Waste reduction benefits accrue from its effectiveness, lowering waste volumes requiring further processing or disposal. Lastly, magnetic separation ensures regulatory compliance through its provision of high purity in recovered materials.

"Plastics was the largest composition for automotive shredded residue (ASR) market in 2023, in terms of value."

There has been a global surge in prioritizing recycling and minimizing plastic waste, with governments, businesses, and consumers demonstrating heightened awareness of plastics' environmental impact. This impetus drives intensified endeavors to efficiently recycle and process plastics. Over time, post shredder technologies have evolved, rendering the processing of plastics by composition more feasible and cost-effective. These technologies enable the identification and separation of distinct plastic types based on their composition, enhancing recycling efficiency. The demand for recycled plastics has been on the rise, particularly in sectors such as packaging, automotive, and consumer goods. Companies are actively seeking more sustainable materials, with recycled plastics frequently meeting their sustainability objectives. Governments in many countries have been enacting regulations and offering incentives to stimulate recycling and the utilization of recycled materials. This regulatory support can encourage investments in post shredder technologies tailored for plastics. The concept of a circular economy, advocating for the reuse and recycling of materials instead of disposal, is gaining prominence. This ideology fosters the development of technologies adept at efficiently processing and recycling plastics into new products. Increased public consciousness regarding plastic pollution in oceans and ecosystems has led to demands for more effective recycling and waste management solutions. Consequently, investments in technologies capable of handling post shredder plastics with greater efficiency will ensue.

"North America was the largest market for automotive shredded residue (ASR) in 2023, in terms of value."

Automotive Shredded Residue (ASR) Market by Region

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North America was the largest market for the global post shredder technology, in terms of value, in 2023. The regulatory environment in North America is characterized by a intricate network of federal, state, and provincial regulations related to waste management and recycling. This complex framework underscores the necessity for advanced technologies to align with regulatory requirements and enhance the efficiency of recycling operations. North America, especially in the United States and Canada, possesses a strong industrial and manufacturing sector that produces significant amounts of industrial and post-consumer waste, demanding efficient waste processing and recycling solutions, including the utilization of post-shredder technology. industries such as automotive, manufacturing, and packaging within North America exhibit robust demand for recycled materials. This demand serves as a catalyst for the development of technologies that efficiently process post shredder materials.

Key Market Players

The key players in this market are Tomra Systems ASA (Norway), Gallo (Belgium), Sims Limited (Australia), MBA Polymers Inc.(US), 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).

The market's ongoing evolution, which encompasses activities such as the introduction of new products, mergers and acquisitions, agreements, and expansions, is anticipated to drive its growth. Prominent post shredder technology manufacturers have chosen to launch new products as a means to maintain their market presence.

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Scope of the Report

Report Metric

Details

Years considered for the study

2020-2028

Base Year

2022

Forecast period

2023–2028

Units considered

 Value (USD Billion/Million), Volume (Kilotons)

Segments

Application, Composition, Technology and Region

Regions

Asia Pacific, North America, Europe, Rest of the World

Companies

Galloo (Belgium), MBA Polymers Inc. (US), PLANIC (Japan), Sims Limited (Australia), Axion Ltd (UK), SRW metal float GmbH (Germany), Machinex Industries Inc. (Canada), Wendt Corporation (US), Binder+Co. (Austria), CP Manufacturing Inc. (US), Tomra Systems ASA (Norway), BT-Wolfgang Binder GmbH (Austria), Agilyx (US), Steinert (Germany)

This report categorizes the global automotive shredded residue (ASR) market based on processing, composition, technology, and region.

On the basis of application, the market has been segmented as follows:
  • Landfill
  • Energy recovery
  • Recycling
On the basis of composition, the market has been segmented as follows:
  • Metals
  • Plastics
  • Rubber
  • Textile
  • Others
On the basis of technology, the market has been segmented as follows:
  • Air classification
  • Optical sorting
  • Magnetic separation
  • Eddy current separation
  • Screening
  • Others
On the basis of region, the market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Rest of the World

Recent Developments

  • In June 2023, Tomra Systems ASA (Norway) unveiled its latest innovation AUTOSORT PULSE. This cutting edge technology machine incorporates dynamic laser induced breakdown spectroscopy (LIBS) and is desiged for high throughput sorting of aluminium alloys and opens up possibilities for green aluminium production.
  • In June 2023, Galloo (Belgium) announced its joint venture with Stellantis (Netherlands) 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 January 2023, Wendt Corpoartion (US) announced its joint venture with Proman Infrastructure Service limited. (India) resulting in the establishment of a new company Wendt Proman Metal Recycling Pvt. Ltd. As it identified India and an emerging market for shredding and separation technologies.
  • In October 2022, MBA Polymers, Inc. (US) 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 manufacturers to minimize plastic waste generation during their production processes and procure environmental friendly recycled materials through a closed loop supply chainfor postindustrial plastics.
  • In July 2022, Machinex Industries, Inc. (Canada) announced a new project with long time partner Rumpke Waste and Recycling that includes the delivery of a brand new 56 ton per hour (TPH) residential single stream system in Columbus, Ohio. The new material recovery facility will feature the best sorting capabilities and the most automation available. This will also be one of the largest dedicated residential single stream systems in the country.
  • In May 2022, Tomra Systems ASA launched a new sorting equipment X-TRACT. This advanced version features a redesigned structure and revolutionary innovations. By leveraging Tomra’s cutting edge x-ray transmission (XRT) technology, it achieves remarkable advancement in metal and diamond recovery, redefining the industry benchmarks for sensor  based aluminium sorting.

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY 
    1.5 LIMITATION 
    1.6 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY 
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 CURRENT SCENARIO 
 
6 INDUSTRY TRENDS 
    6.1 INTRODUCTION 
    6.2 VALUE CHAIN ANALYSIS 
    6.3 PORTER’S FIVE FORCES ANALYSIS 
           6.3.1 BARGAINING POWER OF SUPPLIERS
           6.3.2 THREAT OF NEW ENTRANTS
           6.3.3 THREAT OF SUBSTITUTES
           6.3.4 BARGAINING POWER OF BUYERS
           6.3.5 INTENSITY OF RIVALRY
    6.4 ECOSYSTEM MAPPING 
    6.5 MARKET REGULATIONS 
    6.6 TECHNOLOGY ANALYSIS 
    6.7 KEY CONFRENCES & EVENTS 
    6.8 KEY FACTORS AFFECTING BUYING DECISIONS  
    6.9 TRADE ANALYSIS 
    6.10 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS BUSINESSES 
    6.11 MACROECONOMIC INDICATORS 
    6.12 PATENT ANALYSIS 
    6.13 CASE STUDIES 
 
7 POST SHREDDER TECHNOLOGY, BY COMPOSITION 
    7.1 INTRODUCTION 
    7.2 COMPOSITION OF ASR 
           7.2.1 METALS
           7.2.2 PLASTICS
                    7.2.2.1 Polypropylene (PP)
                    7.2.2.2 Polyethylene (PE)
                    7.2.2.3 Others
           7.2.3 RUBBER
           7.2.4 TEXTILE
           7.2.5 OTHERS
 
*Note: Scope of others segment is tentative and will be determined during execution of the study
 
8 POST SHREDDER TECHNOLOGY, BY APPLICATION 
    8.1 INTRODUCTION 
    8.2 LANDFILL 
    8.3 ENERGY RECOVERY 
    8.4 RECYCLING 
 
*Note: Scope of others segment is tentative and will be determined during execution of the study
 
9 POST SHREDDER TECHNOLOGY, BY TECHNOLOGY 
    9.1 INTRODUCTION 
    9.2 AIR CLASSIFICATION 
    9.3 MAGNETIC SEPARATION 
    9.4 EDDY CURRENT SEPARATION 
    9.5 OPTICAL SORTING 
    9.6 SCREENING 
    9.7 OTHERS 
 
10 POST SHREDDER TECHNOLOGY, BY REGION 
     10.1 INTRODUCTION 
     10.2 NORTH AMERICA 
             10.2.1 RECESSION IMPACT
             10.2.2 US
             10.2.3 CANADA
             10.2.4 MEXICO
     10.3 EUROPE 
             10.3.1 RECESSION IMPACT
             10.3.2 GERMANY
             10.3.3 ITALY
             10.3.4 FRANCE
             10.3.5 UK
             10.3.6 SPAIN
             10.3.7 REST OF EUROPE
     10.4 APAC 
             10.4.1 RECESSION IMPACT
             10.4.2 JAPAN
             10.4.3 CHINA
             10.4.4 INDIA
             10.4.5 SOUTH KOREA
             10.4.6 REST OF ASIA PACIFIC
     10.5 REST OF THE WORLD 
             10.5.1 RECESSION IMPACT
             10.5.2 SAUDI ARABIA
             10.5.3 SOUTH AFRICA
             10.5.4 BRAZIL
 
*Note: This is a tentative list of countries, and it may change during study.
 
11 COMPETITIVE LANDSCAPE 
     11.1 OVERVIEW 
     11.2 TOP 5 PLAYERS MARKET SHARE ANALYSIS 
     11.3 KEY DEVELOPMENTS IN THE MARKET 
     11.4 COMPANY EVALUATION MATRIX, 2022 (TIER 1) 
             11.4.1 STARS
             11.4.2 EMERGING LEADERS
             11.4.3 PERVASIVE PLAYERS
             11.4.4 PARTICIPANTS
     11.5 STARTUP AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX 
             11.5.1 PROGRESSIVE COMPANIES
             11.5.2 RESPONSIVE COMPANIES
             11.5.3 DYNAMIC COMPANIES
             11.5.4 STARTING BLOCKS
     11.6 COMPETITIVE SCENARIO & TRENDS 
             11.6.1 EXPANSIONS & INVESTMENTS
             11.6.2 AGREEMENTS, COLLABORATIONS, AND JOINT VENTURES
             11.6.3 NEW PRODUCT LAUNCHES
             11.6.4 MERGERS & ACQUISITIONS
 
12 COMPANY PROFILE  
     12.1 MACHINEX INDUSTRIES, INC. 
             12.1.1 BUSINESS OVERVIEW
             12.1.2 PRODUCTS OFFERED
             12.1.3 RECENT DEVELOPMENTS
             12.1.4 WINNING IMPERATIVES
             12.1.5 CURRENT FOCUS AND STRATEGIES
             12.1.6 THREAT FROM COMPETITION
     12.2 WENDT CORPORATION 
     12.3 BINDER+CO 
     12.4 CP MANUFACTURING,INC. 
     12.5 TOMRA SYSTEMS ASA 
     12.6 BT-WOLFGANG BINDER GMBH 
     12.7 PLANIC 
     12.8 AGILYX 
     12.9 GALLOO 
     12.10 MBA POLYMERS INC. 
     12.11 STEINERT 
     12.12 SIMS LIMITED 
     12.13 AXION LTD. 
     12.14 SRW METALFLOAT GMBH 
     12.15 OTHER KEY 6 PLAYERS 
 
13 APPENDIX 
     13.1 INSIGHTS FROM INDUSTRY EXPERTS 
     13.2 DISCUSSION GUIDE 
     13.3 AVAILABLE CUSTOMIZATIONS 
     13.4 CONNECTED MARKET 
     13.5 RELATED REPORTS 

The study involved four major activities in estimating the market size of the automotive shredded residue (ASR) market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, articles from recognized authors, the gold standard and silver standard websites, and databases.

Secondary research has been used to obtain key information about the value chain of the industry, the monetary chain of the market, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.

Primary Research

The automotive shredded residue (ASR) market comprises several stakeholders in the value chain, which include raw material suppliers, component manufacturers, distribution, and end-users. Various primary sources from the supply and demand sides of the automotive shredded residue (ASR) market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the post shredder technology industry.

Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, type, application, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of post shredder technology and the future outlook of their business, which will affect the overall market.

The breakdown of profiles of the primary interviewees is illustrated in the figure below:

Automotive Shredded Residue (ASR) Market Size, and Share

Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2023 available in the public domain, product portfolios, and geographical presence.

Other designations include consultants and sales, marketing, and procurement managers.

To know about the assumptions considered for the study, download the pdf brochure

Company Name

Designation

BT-Wolfgang Binder GmbH

Individual Industry Expert

Tomra Systems ASA

Service Engineer

Binder+Co.

Director

Ad Recycling Machines

Sales Engineer

MBA Polymers, Inc.

R&D Manager

Market Size Estimation

The top-down and bottom-up Approaches have been used to estimate and validate the size of the automotive shredded residue (ASR) market.

  • The key players in the industry have been identified through extensive secondary research.
  • The industry's supply chain has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.

Automotive Shredded Residue (ASR) Market: Bottum-Up Approach

Automotive Shredded Residue (ASR) Market Size, and Share

Note: All the shares are based on the global market size.

Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis

To know about the assumptions considered for the study, Request for Free Sample Report

Automotive Shredded Residue (ASR) Market: Top-Down Approach

Automotive Shredded Residue (ASR) Market Size, and Share

Data Triangulation

After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.

Market Definition

Automotive shredded residue (ASR) refers to the heterogeneous mixture of materials left behind after the automotive recycling process involving the shredding and separation of end-of-life vehicles. ASR typically comprises various materials such as plastics, rubber, glass, textiles, foam, and metals that are difficult to separate and recycle using conventional methods. It represents a complex waste stream with environmental and economic implications, requiring specialized technologies and processes for efficient recovery of recyclables, energy generation, and responsible disposal, making it a distinctive and challenging segment within the automotive recycling and waste management industry.

Key Stakeholders

  • Post shredder technology manufacturers.
  • Raw material suppliers
  • Post shredder technology equipment manufacturers.
  • End-use companies.
  • Automotive shredded residue traders, distributors, and suppliers.
  • Research organizations.
  • Industry associations
  • Governments and research organizations

Report Objectives

  • To define, describe, and forecast the size of the automotive shredded residue (ASR) market in terms of value and volume.
  • To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market.
  • To estimate and forecast the market size based on application, composition, technology, and region.
  • To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, and Rest of the world, along with their key countries.
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market.
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders.
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Report Code
CH 8786
Published ON
Sep, 2023
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