The global tire recycling market revenue was around US$ 12.9 billion in 2022 and is estimated to reach US$ 17.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.4% during the forecast period from 2023 to 2031.
Tire recycling is a process of transforming scrap and old tires that can no longer be used, into other products, such as tire-derived fuel, pyrolysis oil, and other rubber products. Numerous small-scale traders also recycle used tires to create other practical items like planters for planting plants in parks and drinking water containers for cattle, among other things. It also involves repairing and retreading used tires so they can be used again.
Market Driving Factors
Raising awareness about the environmental impact of tire waste and the requirement for sustainable waste management methods drive the demand for tire recycling. This is due to the environmental initiatives and laws encouraging proper disposal and tire recycling to lower pollution and save resources.
Governments worldwide implement stringent laws to encourage tire recycling and lower tire waste in landfills. Compliance with these rules becomes a driving force for retailers, tire manufacturers, and customers. Thus, this factor drives the market growth.
The construction industry is increasingly concentrating on sustainable practices and materials. Recycled tire products, such as rubberized asphalt, can be utilized in road construction, decreasing the consumption of pure materials and providing enhanced performance and durability. This creates an opportunity for tire recycling companies to cater to the construction sector’s sustainability requirements.
Issues with waste tire storage, costly machinery, and stringent government regulations hamper the market growth.
Regional Analysis
North America dominated the market in terms of revenue and continued its dominance over the forecast period. This can be attributed to the surged emphasis on environmental responsibility and sustainability. In addition, this region witnessed an increased demand for recycled tire products, driven by initiatives encouraging circular economy practices and the usage of eco-friendly materials. Furthermore, there is an increased focus on cutting-edge recycling technologies to enhance efficiency and maximize resource recovery.
Asia-Pacific dominates the market in terms of significant shares. This is due to the surging adoption of tire-derived fuel (TDF) as an alternative fuel source in industries such as energy generation and cement manufacturing. Furthermore, this region is witnessing rapid urbanization and industrialization, leading to a higher generation of waste tires. Thus, the focus is on discovering sustainable and price-effective solutions for tire disposal, leading to the growth of TDF utilization in the region.
Segmentation Insights
Process Insight
The refurbishing segment dominates the market in terms of revenue during the projection period. Tire refurbishing mainly includes tire retread and tire repair. Tire casing has a long lifespan due to the treads which are still in touch with roads suffering tear and wear and need to be repaired or applied with a unique tread layer. Refurbishing a tire is a price-effective and sustainable solution, as it decreases waste generation and lowers the new tire production demand.
Product Insight
The crumbed rubber segment dominates the market in terms of the large share. This is mainly due to the crumb rubber being sold to numerous manufacturers of recycled rubber-containing products as feedstock for pyrolysis or chemical desulfurization processes. One of the keys utilized for crumb gum is the sports side. Outdoor and playground area for kindergarten.
Application Insight
The automotive segment dominates the market in terms of the large number share. This is due to the automotive industry being the largest consumer of downstream goods for recycled tires. Furthermore, this growth is largely owing to the surging automobile demand, particularly in developing nations. The advent of electric vehicles has also driven market growth.
Prominent Companies
Segmentation Outline
The global tire recycling market segmentation focuses on Process, Product, Application, and Region.
By Process
By Product
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL TIRE RECYCLING MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: TIRE RECYCLING MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL TIRE RECYCLING MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL TIRE RECYCLING MARKET, BY PROCESS
5.1 OVERVIEW
5.2 PYROLYSIS
5.3 SHREDDING
5.4 REFURBISHING
5.4.1 RETREADING
5.4.2 RECONDITIONING
6 GLOBAL TIRE RECYCLING MARKET, BY PRODUCT
6.1 OVERVIEW
6.2 CRUMBED RUBBER
6.3 TIRE DERIVED FUEL
6.4 REFURBISHED COMMERCIAL VEHICLE TIRES
6.5 OTHERS
7 GLOBAL TIRE RECYCLING MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 MANUFACTURING
7.2.1 PAPER AND PULP INDUSTRY
7.2.2 INDUSTRIAL BOILERS
7.2.3 CEMENT MANUFACTURING
7.3 CONSTRUCTION
7.3.1 ROAD CONSTRUCTION
7.3.2 ASPHALT
7.3.3 ROOFING SOLUTIONS
7.4 RUBBER PRODUCTS
7.4.1 SOUND BARRIER SYSTEMS
7.4.2 GYM EQUIPMENT
7.4.3 TUFFS
7.4.4 AUTOMOTIVE PARTS MANUFACTURING
7.4.5 GARDENING PRODUCTS
7.4.6 OTHER
7.5 AUTOMOTIVE
7.5.1 NEW TIRE MANUFACTURING
7.5.2 REFURBISHED TIRES
7.6 OTHERS
7.6.1 MINING
7.6.2 AGRICULTURE
8 GLOBAL TIRE RECYCLING MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL TIRE RECYCLING MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 MICHELIN GROUP S.A.
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 TIRE DISPOSAL AND RECYCLING INC
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 CONTEC S.A.
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 TYRE RECYCLING SOLUTIONS SA
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 RERUBBER LLC
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 BRIDGESTONE CORPORATION
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ENTECH INC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 WASTEFRONT AS
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 GREEN DISTILLATION TECHNOLOGIES CORPORATION LTD
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 EMANUEL TIRE LLC
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 CONTINENTAL AG
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 LIBERTY TIRE SERVICES LLC
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 CHAMPLIN TIRE RECYCLING INC
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 APOLLO TYRES LTD
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 GENAN HOLDING A/S
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 RE-MATCH HOLDING A/S
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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