Tire Recycling Market By Process (Pyrolysis, Shredding), By Product (Crumbed Rubber, Tire Derived Fuel, Others), By Application (Manufacturing, Construction, Rubber Products, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global tire recycling market size was valued at $ 5,119.5 million in 2021, and is projected to reach $ 7,317.6 million by 2031, registering a CAGR of 3.5% from 2022 to 2031. Tire contains many organic and inorganic substances, which can be harmful for the environment, if not disposed properly. Therefore, tire recycling is performed in order to prevent environmental damage, and to extract various useful products such as pyrolysis oil and other rubber products.
Tire recycling is a major business, with considerable growth opportunities. The stages in a tire recycling business basically includes, collection of scrap tires, transportation and storage, and recycling & manufacturing new products.
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, negative environmental impact of improperly disposed tires is also a major factor driving the growth of the market. Moreover, the increased focus on sustainable development is anticipated to drive the demand for tire recycling during the forecast period. However, problems associated with the storage of scrap tires are a restraint in the growth of the market. Furthermore, advancements in pyrolysis process, and also the advancements in manufacturing process of rubber products are anticipated to provide lucrative opportunities for the growth of the tire recycling market.
The tire recycling market is segmented on the basis of process, product, application and region. By process, the market is bifurcated into pyrolysis and Shredding. On the basis of product, it is categorized into crumb rubber, tire-derived fuel, and others. And on the basis of application, the market is categorized into manufacturing, construction, rubber products, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as acquisition, business expansion, 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 ApChemi, Big Atom Limited, Bridgestone Corporation, Champlin Tire Recycling, Continental AG, Emanuel Tire Co., Entech Inc., Genan Holding A/S, Green buddies, Green Distillation Technologies Corporation LTD, L&S Tire Co., Liberty Tire Services LLC, Pyrum Innovations AG, Recycled Rubber Products LLC, Tire Disposal & Recycling Inc., Tire Recycling Solutions AS and Wastefront.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tire recycling market analysis from 2021 to 2031 to identify the prevailing tire recycling market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the tire recycling market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global tire recycling market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Process
Pyrolysis
Shredding
By Product
Tire Derived Fuel
Others
Crumbed Rubber
By Application
Manufacturing
Construction
Rubber Products
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
U.K.
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
APChemi
Big Atom Limited
Bridgestone Corporation
Champlin Tire Recycling
Continental AG
Emanuel Tire Co.
Entech Inc.
Genan Holding A/S
Green buddies
Green Distillation Technologies Corporation LTD
L&S Tire Co.
Lakin General
Liberty Tire Services LLC
Michelin
Pyrum Innovations AG
Tire Disposal & Recycling Inc.
Wastefront
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