South Korea Tire Recycling Market Size, Share, and COVID-19 Impact Analysis, By Product (Rubber, Tire-derived Fuel, Tire-Derived Aggregate, Carbon Black, and Steel Wires), By Application (Automotive, Construction, Manufacturing, Rubber & Plastics, and Others), and South Korea Tire Recycling Market Insights, Industry Trend, Forecasts to 2035

South Korea Tire Recycling Market Insights Forecasts to 2035

• The South Korea Tire Recycling Market Size Was Estimated at USD 239.7 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.53% from 2025 to 2035
• The South Korea Tire Recycling Market Size is Expected to Reach USD 351.1 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Tire Recycling Market Size is Anticipated to reach USD 351.1 Million by 2035, Growing at a CAGR of 3.53% from 2025 to 2035. Tire-derived products are in consistent demand as a result of governments and construction corporations using recycled tire components to improve sustainability and durability in playground surfaces, sound barriers, and road paving.

Market Overview

The industry devoted to gathering, treating, and reusing tires at the end of their useful lives to create new, useable materials or products is known as the tire recycling market. Because of their longevity and environmental effect, tires can be difficult to manage in large quantities, a problem this sector attempts to solve. Tire recycling produces resources including crumb rubber, tire-derived fuel (TDF), and rubberized asphalt by a variety of procedures include shredding, grinding, and devulcanization. Recycling keeps tires out of landfills, where they can leak dangerous chemicals into the groundwater and soil and take up valuable space. Inappropriate tire disposal can contaminate soil and water, and tire fires emit harmful gases and pollutants. Recycling removes these hazards. RCB is becoming more and more popular as a less expensive and greener substitute for virgin carbon black in a number of industries, such as coatings, tires, and plastics. End-of-life tires are being converted into useful byproducts including RCB, liquid gasoline, and gasses by use of sophisticated pyrolysis technology. To promote investments in tire recycling facilities and the usage of recycled tire products, governments are offering tax breaks and financial support.

Report Coverage

This research report categorizes the market for South Korea tire recycling market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea tire recycling market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea tire recycling market.

Driving Factors       

The stringent government regulations on tire disposal, and the growing demand for sustainable and eco-friendly materials. Rising industrialization and infrastructure development boost the need for recycled products like rubber, steel, and tire-derived fuel. Additionally, advancements in recycling technologies have improved efficiency and product quality, further encouraging market growth.

Restraining Factors

High initial setup costs for recycling facilities and limited access to advanced recycling technologies. Inconsistent supply and quality of end-of-life tires can hinder efficient processing. Additionally, low awareness and lack of standardized regulations across regions reduce market potential.

Market Segmentation

The South Korea tire recycling market share is classified into product and application.

• The rubber segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea tire recycling market is segmented by product into rubber, tire-derived fuel, tire-derived aggregate, carbon black, steel wires. Among these, the rubber segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Its wide application in construction, sports surfaces, and molded products. Increasing demand for sustainable materials and government support for eco-friendly infrastructure are driving growth. The recycled rubber market is expanding due to the growing need for long-lasting and reasonably priced substitutes for virgin rubber. Because of its increased robustness and environmental advantages, high-performance recycled rubber is being incorporated into seals, gaskets, and vibration-damping components by industries like manufacturing, defense, and more.

• The automotive segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea tire recycling market is segmented by application into automotive, construction, manufacturing, rubber & plastics, and others. Among these, the automotive segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The rising demand for recycled rubber in tire manufacturing, noise insulation, and underbody components. Growing vehicle production and sustainability initiatives are encouraging the use of recycled materials. Its larger circular economy strategy, the automotive sector is increasing the usage of used tire materials. Carbon black and recycled rubber are being used in tire production, underbody parts, and interior applications as a result of major manufacturers' commitment to lessening their environmental impact.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea tire recycling market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Kumho Petrochemical
• KCC Corporation
• POSCO Future M
• SK ecoplant
• SK Incheon Petrochemical
• LD Carbon
• Hankook Tire & Technology
• Hyosung Advanced Materials

Recent Developments:

• In April 2025, LD Carbon is leading the way in end-of-life tyre recycling by converting scrap tyres into recycled materials like recovered carbon black, supporting a scalable, circular economy.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea tire recycling market based on the below-mentioned segments:

South Korea Tire Recycling Market, By Product

• Rubber
• Tire-derived Fuel
• Tire-derived Aggregate
• Carbon Black
• Steel Wires

South Korea Tire Recycling Market, By Application

• Automotive
• Construction
• Manufacturing
• Rubber & Plastics
• Others