Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Tire Recycling Market Size is Expected to Grow from USD 5.74 Billion in 2023 to USD 8.21 Billion by 2033, Growing at a CAGR of 3.64% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Tire Recycling Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Rubber, Tire-derived Fuel, Tire-derived Aggregate, Carbon Black, Steel Wires), By Application (Automotive, Construction, Manufacturing, Rubber & Plastics, Others), By Method (Mechanical Recycling, Pyrolysis, Chemical Recycling), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033
The worldwide tire recycling market is ascribed to the business involved the utilizing techniques like cutting, pyrolysis, and devulcanization, to convert scrap tires into reusable materials. The material coming from this recycling process is applied as the production of elastomeric bitumen with its strength like the construction of roads, recreational surfaces, athletics trails, and molded rubber products. The market growth is propelling because of growing environmental consciousness and strict regulations that promote more sustainable waste management techniques. Moreover, the technological advancements in recycling and the growing market need for recovered materials boost the market expansion. Further, collaborative ventures by key tire manufacturers boost the market expansion. However, market acquisition faces several obstacles, like high upfront costs for fabricating, a lack of expert personnel, and economic uncertainty.
The carbon black segment held a significant share of the global tire recycling market in 2023 and is anticipated to grow at a rapid pace over the forecast period.
On the basis of the product type, the global tire recycling market is differentiated into rubber, tire-derived fuel, tire-derived aggregate, carbon black, and steel wires. Among these, the carbon black segment held a significant share of the global tire recycling market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is because of its high-performance role in fabricating plastics, coating materials, and specialty materials.
The automotive segment held the greatest share of the global tire recycling market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period.
On the basis of application, the global tire recycling market is categorized into automotive, construction, manufacturing, rubber & plastics, and others. Among these, the automotive segment held the greatest share of the global tire recycling market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period. This is because recycled tire parts in an array of ways, like the creation of underbody safeguarding, sealing compounds, and noise-reducing elements. These components support increased safety features, better fuel economy, and less noise in cars which propel the segment growth.
The pyrolysis segment held a significant share of the global tire recycling market in 2023 and is anticipated to grow at a rapid pace over the forecast period.
On the basis of the method, the global tire recycling market is segmented into mechanical recycling, pyrolysis, and chemical recycling. Among these, the pyrolysis segment held a significant share of the global tire recycling market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is because this process is done through the absence of oxygen which leads to gaining a high-quality byproduct for instance, liquid fuel (pyrolysis oil), gaseous fuel (syngas), and solid carbon (carbon black). These byproducts are utilized in various industries such as energy powerplant, fuel production, and fabrications of plastics and rubber which propels the segmental dominance in market revenue.
Asia Pacific is projected to hold the largest share of the global tire recycling market over the forecast period.
Asia Pacific is anticipated to hold the greatest share of the global tire recycling market over the forecast period. The regional market is growing due to countries like China, Japan, and India, which have robust automotive industries with supportive roles from technical development in material science. Moreover, the regional market is increasing because of the substantial investment from the government commitment to delivering novel solutions having its performance towards sustainability. Further, the rising need for raw materials for leading automakers with a supportive role in the scrap business boosts the regional market.
North America is projected to grow at the fastest CAGR growth of the global tire recycling market over the forecast period. The market expansion throughout the region is further accelerated because of commitment to sustainable solutions for waste management and government strict restrictions and their schemes. Moreover, regional market opportunities are highlighted by USA market revenue through its robust infrastructure accessibilities.
Company profiling
Major vendors in the global tire recycling market are Continental AG, reRubber, LLC., Entech Inc., Michelin Group S.A., Liberty Tire Services LLC (Lakin Tire), Green Distillation Technologies Corporation LTD., Tire Recycling Solutions SA, Bridgestone Corporation, Apollo Tyres Ltd., Tire Disposal and Recycling, Inc., Wastefront AS, Contec S.A., Genan Holding A/S, Emanuel Tire, LLC, Re-Match Holding A/S, and Champlin Tire Recycling Inc., and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global tire recycling market based on the below-mentioned segments:
Global Tire Recycling Market, By Product Type
Global Tire Recycling Market, By Application
Global Tire Recycling Market, By Method
Global Tire Recycling Market, By Regional
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