Dear life and inflation, the car recycling market explodes (+300% in the next eight years)

There is the issue linked to environmental sustainability, there is that linked to supplies and supply chains but there is also and above all the economic one. And in the face of inflation and geopolitical dynamics that have caused prices and waiting times for the supply of raw materials to skyrocket, we are thinking of alternative solutions. Hence the boom in car and commercial vehicle recycling.

According to data from Spherical Insights released on the occasion of the “States General of Car Demolitions” that AGI was able to preview the global recycling asset ofprivate cars and commercial vehicles will quadruple their revenues within the next 8 years, approaching 300 billion euros (+300% on 2023) with an average compound annual growth of 15%. On a purely geographical level, Chinese e India will dominate the market over the period under review, but the most significant growth will be recorded in Nord America. And Europe? The Old Man
Continent, according to Eurostat, occupies a leading position in terms of number of vehicles recycled over the last year with Italia e Poland at the top of the standings.

What can you get from a scrapped car?

“Private cars and commercial vehicles at the end of their life are not simply waste, but opportunities to be seized and worked on. Not for nothing, an authoritative source such as the Daily Mirror recently specified that the individual parts of which a vehicle is composed can be recycled in as many as 86% of cases – states Antonello Di Mauro, founder of Ecoeuro, an Italian company specialized in the management of all activities related to the end of life of vehicles – just to give an example, we use tires to transform them, after a long process, into polymers which, in turn, can be applied to structure the paving of a sports field or to complete the mixture created to renew, or build from scratch, the asphalt of a specific route. In view of the future, we must certainly focus more on electric, in fact, according to a survey conducted by our experts, the so-called scrap from an electric car have a profitability 9% higher than those of an internal combustion vehicle”.

Artificial intelligence enters junkyards

According to a study published in Science Direct the “artificial recycling” will become increasingly present and effective. As? Thanks to artificial intelligence algorithms which can be used immediately to identify and sort the different types of materials in end-of-life vehicles, thus facilitating their extraction and subsequent recycling. But that’s not all because more and more asset organizations will also put “robo-collegues” capable of dismantling end-of-life vehicles safely and efficiently alongside their real professionals. This initiative can help reduce the risk of accidents in the workplace and, at the same time, also speed up the various operational processes and perfect the so-called “recycled process”.