ASR Market Projected Worth of .6 Billion by 2028
Posted by Jack Martin on September 26th, 2023
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.
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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162123480
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.
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.
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.
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.
Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=35261463
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.
Like it? Share it!
About the AuthorJack Martin
Joined: August 7th, 2017
Articles Posted: 1,098
More by this author