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Report
Tire Recycling Market By Process (Pyrolysis, Shredding, Refurbishing), By Product (Crumbed Rubber, Tire Derived Fuel, Refurbished Commercial Vehicle Tires, Others), By Application (Manufacturing, Construction, Rubber Products, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Market Report I 2023-08-01 I 250 Pages I Allied Market Research
The global tire recycling market size was valued at $11,980.9million in 2018 and is projected to reach $18,137.8million by 2032, registering a CAGR of 3.3% from 2023 to 2032. Tire contains many organic and inorganic substances, which can be harmful to the environment, if not disposed of properly. Therefore, tire recycling is performed to protect the environment; along with this, various useful substances are also extracted, such as pyrolysis oil, carbon black, rubber products, tire derived fuel, and crumb rubber industrial feedstock.
The rise in demand for automobiles for commercial and non-commercial use has significantly increased the demand for tires; thereby inducing growth in the tire recycling market. In addition, the negative environmental impact of improperly disposed tires and the increased focus on sustainable development is anticipated to drive the demand for tire recycling during the forecast period. However, logistical problems and strict government regulations associated with the storage of scrap tires are major restraints in the growth of the market. Furthermore, advancements in the pyrolysis process, and also the advancements in the manufacturing process of rubber products that enable the products to be stronger are anticipated to provide lucrative opportunities for the growth of the tire recycling market.
Tire recycling is a major business, with considerable growth opportunities. Various stages in a tire recycling business basically include collection of scrap tires, transportation & storage, and recycling & manufacturing new products. The market has expanded rapidly, and the growth potential is immense. Thus, many major players have expanded their capabilities pertaining to tire recycling. In addition to this, companies explore the business of tire recycling, as it helps them offset their carbon footprint.
The tire recycling market is segmented on the basis of process, product, application, and region. By process, the market is classified into pyrolysis, shredding, and refurbishing. Furthermore, the refurbishing segment is further categorized into retreading and reconditioning. Depending upon the product, the market is segregated into tire derived fuel, crumbed rubbers, refurbished commercial vehicle tires, and others. On the basis of application, it is divided into manufacturing, construction, rubber products, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Oceania, Africa, Middle East, and Latin America.
The major players that operate in the global market have adopted key strategies such as acquisition, business expansion, product launch, and other strategies to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the tire recycling market report include Apollo Tyres Ltd, Bridgestone Corporation (Bandag LLC), Champlin Tire Recycling, Inc, Contec, Continental AG, Emanuel Tire, LLC, Entech Inc., Genan Holdings A/S, Green Distillation Technologies Corporation LTD., Liberty Tire Services LLC (Lakin Tire), Michelin Group S.A., Re-Match Holding A/S, reRubber, LLC., Tire Disposal & Recycling, Inc., Tyre Recycling Solutions SA, and Wastefront AS.
Key Benefits For Stakeholders
-The report provides an extensive analysis of the current and emergingtire recycling markettrends and dynamics.
-In-depthmarketanalysis is conducted by constructing market estimations for the key market segments between 2018 and 2032.
-Extensive analysis of thetire recycling marketis conducted by following key product positioning and monitoring of the top competitors within the market framework.
-A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
-The global tire recycling marketforecast analysis from 2023 to 2032 is included in the report.
-The key market players within thetire recyclingmarket are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of thetire recyclingindustry.
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Key Market Segments
By Process
- Pyrolysis
- Shredding
- Refurbishing
- Type
- Retreading
- Reconditioning
By Product
- Crumbed Rubber
- Tire Derived Fuel
- Refurbished Commercial Vehicle Tires
- Others
By Application
- Manufacturing
- Manufacturing type
- Paper and pulp industry
- Industrial boilers
- Cement manufacturing
- Construction
- Construction type
- Road construction
- Asphalt
- Roofing solutions
- Rubber Products
- Type
- Sound barrier systems
- Gym equipment
- Tuffs
- Automotive parts manufacturing
- Gardening products
- Other
- Automotive
- Type
- New tire manufacturing
- Refurbished tires
- Others
- Type
- Mining
- Agriculture
By Region
- North America
- U.S.
- Canada
- Mexico
- Puerto Rico
- Rest Of North America
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Malaysia
- Pakistan
- Rest Of Asia
- Oceania
- Australia
- New Zealand
- Africa
- South Africa
- Egypt
- Tunisia
- Algeria
- Morocco
- Libya
- Rest Of Africa
- Middle East
- Saudi Arabia
- Oman
- Bahrain
- Qatar
- Latin America
- Brazil
- Argentina
- Colombia
- Chile
- Peru
- Rest Of Latin America
- Key Market Players
- Continental AG
- Emanuel Tire, LLC
- Bridgestone Corporation
- Entech Inc.
- Green Distillation Technologies Corporation LTD.
- Liberty Tire Services LLC (Lakin Tire)
- Michelin Group S.A.
- Tire Disposal and Recycling, Inc.
- Wastefront AS
- Re-Match Holding A/S
- reRubber, LLC.
- Contec S.A.
- Apollo Tyres Ltd.
- Genan Holding A/S
- Champlin Tire Recycling Inc.
- Tyre Recycling Solutions SA
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