The Global Tire Recycling Downstream Products Market has been estimated to reach a value of USD 4.1 billion in 2021 and is projected to grow at a CAGR of 2.15% during the forecast period from 2021-2030. The growing awareness about the environmental benefits from tire recycling, new recycled products, and industrial fuels & materials derived from tire recycling will drive the market during the analysis period. The tire recycling process involves the conversion of discarded or end-of-life tires into useful industrial materials. Other significant factors in driving the market are technological advancements and sustainable industry practices.
The landfill disposal of tires can trap methane gas and result in safety & health issues, tire fires, and diseases. Hence, rising issues related to landfills are increasing the demand for recycling techniques. Various methods are adopted for tire recycling, including pyrolysis, which involves the heating of tire shreds in an oxygen-free reactor vessel. Cryogenic recycling, on the other hand, is done by freezing tires using super-cold liquids or cryogens and turning them into rubber crumbs, and then repurposing the old tires into swings in playgrounds, sports, and other building products. However, the most common technique used is shredding, which has a huge impact on market growth.
The automobile industry and rising applications of tire-derived products in various industries for fuel, binding material, or others, will boost the market growth. Furthermore, increasing research & development and technological innovations will enhance the growth of the market for tire recycling. For instance, Oregon-based Malarkey Roofing products incorporated tire shreds into sustainable roofs. In another instance, Renegade Rumble Strip by Rubbererosion got approval from the Colorado Department of Transportation (C-DOT). The product has the ability to control the mud sediment in construction sites. Such developments will provide a major stimulus to market growth.
TABLE 1: GLOBAL TIRE RECYCLING DOWNSTREAM PRODUCTS MARKET OVERALL SNAPSHOT
Segmentation
The global tire recycling downstream market report has been segmented by technique, type, application, end-user, and region.
FIGURE 2: GLOBAL TIRE RECYCLING DOWNSTREAM PRODUCTS MARKET SEGMENTATION
Global Tire Recycling Downstream Market, By Technique
Based on technique, the tire recycling downstream market is divided into shredding and pyrolysis. Shredding is expected to dominate the market during the forecast period. Tire shredding machines use old tires and convert them into a tire-derived aggregate (TDA). TDA has a wide variety of applications in civil constructions like back-fill, retaining walls, vibration material for railway lines, and other road repair projects. Therefore, the tire-derived aggregate will drive the growth of the shredding technique. Moreover, the on-site shredding technique for tires can be cost-effective for cover material or backfill. However, the initial costs of shredding machines can be high, which can restrain the market.
The pyrolysis technique will also have a significant impact on market growth. This technique involves the recycling of shredded tires by heating them into a reactor vessel in an oxygen-free atmosphere. In this method, the vapor produced is used as a fuel to generate power for the industrial processes. Tire pyrolysis is a clean procedure that produces low emissions and hence, will drive market growth.
Global Tire Recycling Downstream Market, By Type
Based on the type, the tire recycling downstream market is segmented into light vehicles, heavy vehicles, and others. Light vehicle tires are expected to grow significantly during the analysis period. It includes passenger car tires and motorbike tires. The growing demand in the automobile industry will have a significant impact on tire industry processes, which in turn, will impact the tire recycling downstream market. Hence, the rising number of stranded vehicles and waste tires will improve market demand.
The heavy vehicle tires include pickup truck tires, lorry/truck tires, and off-the-road tires. Other tires include bicycle tires and airplane tires. Heavy vehicle tires will affect the market growth in a positive manner. The rising number of heavy vehicles for logistics and transportation of goods will have a positive impact on market growth during the analysis period.
Global Tire Recycling Downstream Products Market, By Application
Based on application, the tire recycling downstream market is divided into fuel, aggregates, mulch, powder, and others. The powder and mulch segments are expected to witness significant growth during the forecast period. The industrial applications of tire powder or rubber powder include seals, vibration panels, and insulating boards. The mulch or rubber mulch is used in landscaping and gardens. The mixing ability of rubber powder with resin, asphalt, and other raw materials will drive the market significantly. Furthermore, rubber powder is a cost-effective alternative to asphalt.
The growing demand for tire-derived fuel for cement industries will boost the tire recycling downstream market. The other advantages for the cement industry include saving fuel costs, and no odour, smoke, and other emissions. This will support the market during the forecast period. Hence, growing industrial applications for tire-derived products will boost the market growth.
Global Tire Recycling Downstream Products Market, By End-User
Based on end-user, the market is segmented into building construction, paper & pulp industry, heavy engineering, and others. The building construction segment is expected to lead the market during the analysis period. The rising tire-derived product application in the cement industry will drive the market for the building construction segment. Furthermore, mixing concrete with rubber aggregates is eco-friendly with good material properties. Other building constructions using tire-derived products include sports complexes, playgrounds, and road repairing projects, which will drive the market.
Global Tire Recycling Downstream Products Market, By Region
Based on regions, the global tire recycling downstream market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific and Europe are expected to grow significantly during the forecast period. The growing awareness about the impact of tire recycling on the environment will drive the market in the Asia Pacific region. Furthermore, the growing automobile industry, a huge amount of tire scrap generated annually, and landfill issues will promote the growth of the market in this region.
The European tire recycling industry is being driven by the increasing adoption of recycling techniques and the presence of organized channels for the same. The growing awareness related to reducing carbon emissions in this region will further promote market development in Europe.
TABLE 2: GLOBAL TIRE RECYCLING DOWNSTREAM PRODUCTS MARKET OVERVIEW
FIGURE 3: GLOBAL TIRE RECYCLING DOWNSTREAM PRODUCTS MARKET (USD BILLION), 2021-2030
Recent Developments in the Global Tire Recycling Downstream Products Market
- In March 2021, the tire collection event was offered by Vernon County in partnership with Region M Waste Management District. The event will allow only residents to bring 10 tires whose cost depends on the tire type for recycling.
- In October 2020, MOL Group announced its completion of a rubber bitumen plant for tire waste recycling. The company also stated that the plant is capable of producing about 20 kilo tons of rubber bitumen per year. The plant is situated at Zala site and recycles around 8-10% of domestic tire waste.
- In August 2020, the global tire recycling company, ECO Green announced a new innovative machine EcoRazor 63. It removes high-quality rubber from the off-the-road tires, and the remaining part is sent for additional processing.
- In May 2020, CM Shredders announced the delivery of two turnkey tire-derived fuel (TDF) shredding systems in the U.K. and U.S in partnership with Aquamatrix Inc and Tire Renewals Ltd. The two systems developed are high capacity CM shredders TDF system and CM dual-speed chipping shredder system.
- In April 2020, Michelin Group, a global tire producer, announced its partnership with Enviro, a Sweden-based company, to build a plant and scale up the pyrolysis technology. The agreement also fulfills the Michelin’s “All Sustainable Vision”.
- In September 2019, Continental and Michelin joined Smag, a software company to develop app for sustainable practices in rubber supply chain. The company also stated that the data provided by the app will assist tire manufacturers in adopting sustainable practices.
- In September 2017, Zeppelin Group GmbH announced to build a tire recycling plant in Indiana, in partnership with Pyrolyx AG. The plant can recover carbon black from tires.
What Does This Report Provide?
This report provides a detailed understanding of the global tire recycling downstream market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, and opportunities for the global tire recycling downstream market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation:
By Technique:
- Shredding
- Pyrolysis
By Type:
- Light Vehicle
- Heavy Vehicle
- Others
By Application:
- Fuel
- Aggregates
- Mulch
- Powder
- Others
By End-User:
- Building & Construction
- Paper & Pulp Industry
- Heavy Engineering
- Others
By Region:
North America Tire Recycling Downstream Products Market
- North America, by Country
-
- U.S.
- Canada
- Mexico
- North America by Technique
- North America by Type
- North America by Application
- North America by End-User
Europe Tire Recycling Downstream Products Market
- Europe, by Country
-
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Europe by Technique
- Europe by Type
- Europe by Application
- Europe by End-User
Asia Pacific Tire Recycling Downstream Products Market
- Asia Pacific, by Country
-
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- Asia Pacific by Technique
- Asia Pacific by Type
- Asia Pacific by Application
- Asia Pacific by End-User
Middle East and Africa Tire Recycling Downstream Products Market
- Middle East and Africa, by Country
-
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa by Technique
- Middle East And Africa by Type
- Middle East And Africa by Application
- Middle East And Africa by End-User
South America Tire Recycling Downstream Products Market
- South America, by Country
-
- Brazil
- Argentina
- Rest of South America
- South America by Technique
- South America by Type
- South America by Application
- South America by End-User
Major Companies: In this report, the major companies studied are: Continental AG, Fornax Corp, ETR Group, Tyre and Rubber Recycling, Royal Dutch Shell PLC, Genan Holding A/S, Lakin Tires West Inc, Ragn Sells Group, Liberty Tire Recycling, Emanuel Tire LLC, ECO Green, L & S Tire Company, Reliable Tire Disposal, Probio Energy International, Renelux Cyprus Ltd, and West Coast Rubber Recycling Inc.
Objectives of this Report:
- To estimate the market size for the tire recycling downstream market on a regional and global basis.
- To identify major segments in the market and evaluate their market shares and demand.
- To provide a competitive scenario for the tire recycling downstream market with major developments observed by the key companies in the historic years.
- To evaluate key factors governing the dynamics of the market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications.
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are impacting the global tire recycling downstream market?
- What is the market size both in terms of value and volume for the global tire recycling downstream market?
- Who are the leading market players and who are the new market players that operate in the global market with estimated market shares?
- What are the future investment pockets and opportunities in the global tire recycling downstream market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on the global tire recycling downstream market
Customization:
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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