From GlobeNewswire: 2025-04-14 10:00:00

The Automotive Shredded Residue (ASR) Market is on the rise, with a value of USD 5.98 billion in 2023, expected to reach USD 8.93 billion by 2032, growing at a CAGR of 4.55%. Automakers are focusing on sustainable solutions for vehicle waste, driving the market’s momentum.

The U.S. fuel transfer pumps market is projected to grow from USD 0.95 billion in 2023 to USD 1.46 billion by 2032, with a CAGR of 4.92%. Demand is driven by industries like construction and advancements in fuel transfer technology.

Key players in the ASR market include Tomra Systems ASA, Galloo, Sims Limited, and more, offering solutions for metal recycling, polymer separation, and material recovery.

Landfills lead the ASR market, with plastics accounting for over 38% of the market share in 2023. Magnetic separation technology dominates, with over 34% market share, crucial for recovering ferrous metals from shredded waste.

North America commands over 42% of the ASR market, driven by stringent recycling laws and sustainability efforts. Asia-Pacific is the fastest-growing region, with countries like China and India leading the expansion with investments in recycling infrastructure.

In June 2023, Tomra Systems ASA launched the AUTOSORT PULSE, enhancing sorting accuracy in aluminum recycling. The technology supports high-efficiency sorting of valuable metals, reducing reliance on virgin raw materials.

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Read more at GlobeNewswire: Automotive Shredded Residue (ASR) Market to Reach USD 8.93