Car Recycling Market: A Well-Defined Technological Growth Map With An Impact-Analysis 2020 - 2030
Car Recycling Market : Introduction Auto recycling comprises reusing refurbished parts and shredding and recycling car materials such as plastics, aluminum, and steel. End-of-life vehicles are dismantled in recycling plants to remove components and subsequently shredded in order to recover materials. Key Drivers of Car Recycling Market Vehicles maintain a high recycle rate of 80%, automobiles are the most recycled consumer products worldwide, thus the car recycling market holds high potential globally. Governments across the globe, such as the U.S., have been active in levying high taxes on the import of virgin steel in order to maintain commodity prices and to boost material recycling. Thus, automakers are compelled to use recycled steel Recyclers associations and governments worldwide, such as Automotive Recyclers Association (ARA) and the U.S Environmental Protection Agency, are implementing sustainable practices to reduce the environmental impact. Automakers and auto part...