The Automotive Shredded Residue (ASR) market is projected to reach $1.6 billion by 2028, with a compound annual growth rate (CAGR) of 6.6% [277cdf99]. The market growth is driven by regulatory pressure, technological advancements, resource scarcity, and increasing demand for recycled materials. Key players in the market include Tomra Systems ASA, Galloo, Sims Limited, MBA Polymers Inc., and Binder+Co. These companies are expanding their operations and introducing new products to expand their market footprint. Tomra Systems ASA, established in 1972, offers cutting-edge solutions in collection and sorting systems. Galloo is a European recycling company specializing in ferrous and non-ferrous metals. Sims Limited is a global figure in metal recycling and renewable energy. MBA Polymers Inc. is a frontrunner in recycling plastics from end-of-life durable goods. Binder+Co. provides sorting and processing solutions for recycling, mining, and raw materials. MarketsandMarketsā¢ is a growth consulting and program management company that helps organizations drive supernormal growth in the B2B space. They work with clients on growth programs and offer services in TAM Expansion, Go-to-Market Strategy, Market Share Gain, Account Enablement, and Thought Leadership Marketing. The ASR market presents significant opportunities for growth, driven by various factors such as regulatory pressure, technological advancements, and increasing demand for recycled materials. Key players in the market are expanding their operations and introducing new products to capitalize on these opportunities [277cdf99].
ISRI has released its 2023 ISRI Recycled Materials Industry Yearbook, providing the most current information, analysis, and statistics about the U.S. recycled materials industry and global marketplace [da4526dd]. The yearbook highlights the major contribution of the recycled materials industry to the U.S. economy, generating nearly $117 billion in economic activity and supporting over 500,000 jobs. It also emphasizes the industry's role in reducing emissions and energy consumption, meeting infrastructure and sustainability goals, and strengthening the supply chain. The yearbook covers major recycled material markets, industry trends, and historical information on production, recovery, consumption, trade flows, and price indexes. ISRI President Robin Wiener emphasizes the critical role of recycled materials in manufacturing, infrastructure investment, and supporting a sustainable society.
The Automotive Shredded Residue (ASR) market is projected to reach $1.6 billion by 2028, driven by regulatory pressure, technological advancements, and increasing demand for recycled materials. Key players in the market are expanding their operations and introducing new products to capitalize on these opportunities. Additionally, ISRI's 2023 ISRI Recycled Materials Industry Yearbook highlights the significant contribution of the recycled materials industry to the U.S. economy, generating nearly $117 billion in economic activity and supporting over 500,000 jobs. The yearbook emphasizes the industry's role in reducing emissions, meeting sustainability goals, and strengthening the supply chain [277cdf99] [da4526dd].
The US Institute of Scrap Recycling Industries (ISRI) has officially rebranded to the Recycled Materials Association (ReMA) [93ff73ea]. The rebrand and logo better reflect the evolution within the recycling industry and its member companies. ReMA represents recycling industries including ferrous and nonferrous metals, electronics, glass, paper, plastics, textiles, and tires and rubber. ISRI was formed in 1987 when the Institute of Scrap Iron and Steel merged with the National Association of Recycling Industries. The trade association has around 1,700 member companies across the US and another 40 countries. The rebranding to ReMA signifies the organization's commitment to representing and promoting the recycled materials industry [93ff73ea].