The global car recycling market is expected to reach EUR 221 billion by 2025, well up on the 2018 total of EUR 69.7 billion, representing a compound annual growth rate of 18%.
‘The automobile is already one of the most effectively recovered and recycled consumer products,’ conclude analysts at Market Insights Reports. Their new 150-page study says that ‘huge downstream demand’ is driving the development of vehicle recycling.
The biggest market is North America. The Asia Pacific region, Europe and Australia are also described as having strong recycling industries but it is North America with the highest volume of motorcycle recycling transactions in 2019 and a market share of more than 50%.
While metals and polymers are both important materials for car recyclers, metal recycling accounted for 74% of total returns in 2018.
The detailed market report highlights recycling efforts by leading companies including Scholz, Schnitzer Steel Industries, Toyota, ECOBAT Technologies, Sims Metal Management, EMR, Hensel Recycling, Volkswagen and Indra.
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.