Tire Recycling Market Growth, Size, Trends, Revenue, Share, Challenges, Scope and Future Outlook
Tire Recycling Market Size- By Product, By Application, By Process- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: CHEM23109 | Pages: 1 - 244 | Formats*: |
| Category : Chemical & Materials | |||
Tire Recycling Market Introduction and Overview
According to SPER Market Research, the Global Tire Recycling Market is estimated to reach USD 18.78 billion by 2033 with a CAGR of 3.52%.
The report includes an in-depth analysis of the Global Tire Recycling Market, including market size and trends, product mix, applications, and supplier analysis. The process of turning old, discarded tyres into other products—like pyrolysis oil, fuel obtained from tyres, and other rubber goods—is known as tyre recycling. Old tyres can also be recycled by a number of small-scale sellers into various practical items like planters for planting trees in parks and drinking water tanks for cattle. It also covers the retreading and repair of worn tyres for future usage. Recycling tyres reduces their carbon footprint by giving them a new use.
- February 2020: Under its MICHELIN X Multi D Pre-Mold retread line, Michelin North America has introduced two new pre-mold retreads. This cutting-edge solution maintains exceptional mileage performance while offering increased traction and durability against scouring.
- December 2023: Continental AG intended to enhance its retread procedure and retread instruction.
Market Opportunities and Challenges
It is projected that market participants would have profitable growth opportunities due to the creative usage of tyres in the creation of novel and ground-breaking goods. Effective tyre collecting and recycling systems can be developed with the help of partnerships between tyre producers, recycling businesses, and governmental organisations. There is a huge opportunity for the tyre recycling market to grow given the speed at which emerging nations are industrialising and the rise in automobile sales. Moreover, for market participants, investigating novel uses of recycled tyre materials, like playground surfaces, rubberized asphalt, and building materials, offers profitable prospects.
However, the market's expansion is constrained by issues with scrap tyre storage, costly gear, and stringent government regulations. For instance, a lot of regulatory bodies have created laws and regulations for the collection, storage, and transportation of discarded tyres since it is seen to present a fire hazard. The main obstacles are getting all tyres collected and recycled and keeping them out of delicate environments, abandoned sites, and unlawful landfills. Furthermore, tyre recyclers' profit margin is hampered by the extremely complicated shredding process used to remove steel wire from rubber. The market expansion for tyre recycling is further hampered by the absence of standards for items made from recycled tyres and the difficulties involved in recovering and recycling automobile tyres.
Market Competitive Landscape
In the fiercely competitive worldwide tyre recycling business, a number of well-established firms and recent entries are fighting for market dominance. To improve their positions in the market, major players are concentrating on growing their recycling capacities, creating cutting-edge technologies, and establishing tactical alliances. Industry leaders use collaborations with tyre manufacturers, waste management firms, and research institutes as critical tactics to spur innovation and obtain a competitive advantage. The major players in the Global Tire Recycling market include: Apollo Tyres Ltd, Champlin Tire Recycling, Inc, Contec, Continental AG, Emanuel Tire, LLC, Entech Inc., Genan Holdings A/S, Green Distillation Technologies Corporation LTD., Liberty Tire Services LLC (Lakin Tire), Michelin Group S.A., Re-Match Holding A/S, reRubber, LLC., Tire Disposal & Recycling, Inc., Tyre Recycling Solutions SA, Wastefront AS, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By Application, By Process |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Apollo Tyres Ltd, Champlin Tire Recycling, Inc, Contec, Continental AG, Emanuel Tire, LLC, Entech Inc., Genan Holdings A/S, Green Distillation Technologies Corporation LTD., Liberty Tire Services LLC (Lakin Tire), Michelin Group S.A., Re-Match Holding A/S, reRubber, LLC., Tire Disposal & Recycling, Inc., Tyre Recycling Solutions SA, Wastefront AS, Others |
COVID-19 Impact on Global Tire Recycling Market
The tire recycling sector faced challenges during the COVID-19 pandemic with reduced industrial activities and demand for recycled tire products. Although post-pandemic recovery is evident in 2023, the industry now confronts a potential downturn due to the global economic recession triggered by the Ukraine-Russia war and lingering COVID-19 impacts. Despite some resilience in India and China, rising global inflation poses a significant threat to the tire recycling market. The prolonged conflict exacerbates the inflation outlook, suggesting a challenging economic landscape ahead.
Key Target Audience:
- Agriculture
- Automotive Industry
- Construction Industry
- Recycling Companies
- Tire Manufacturers
- Transportation and Logistics Companies
- Others
Our in-depth analysis of the Tire Recycling Market includes the following segments:
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| By Application: |
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| By Process: |
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Key Topics Covered in the Report:
- Global Tire Recycling Market Size (FY’2023-FY’2033)
- Overview of Global Tire Recycling Market
- Segmentation of Global Tire Recycling Market By Product (Crumbed Rubber, Refurbished Commercial Vehicle Tires, Tire Derived Fuel, Others)
- Segmentation of Global Tire Recycling Market By Application (Agriculture, Automotive, Construction, Manufacturing, Mining, Rubber Products, Others)
- Segmentation of Global Tire Recycling Market By Process (Pyrolysis, Refurbishing, Reconditioning, Retreading, Shredding)
- Statistical Snap of Global Tire Recycling Market
- Expansion Analysis of Global Tire Recycling Market
- Problems and Obstacles in Global Tire Recycling Market
- Competitive Landscape in the Global Tire Recycling Market
- Impact of COVID-19 and Demonetization on Global Tire Recycling Market
- Details on Current Investment in Global Tire Recycling Market
- Competitive Analysis of Global Tire Recycling Market
- Prominent Players in the Global Tire Recycling Market
- SWOT Analysis of Global Tire Recycling Market
- Global Tire Recycling Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Tire Recycling Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Tire Recycling Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Tire Recycling Market
7. Global Tire Recycling Market, By Product (USD Million)
7.1. Global Tire Recycling Market Value Share and Forecast, By Product, 2023-20337.2. Crumbed Rubber7.3. Refurbished Commercial Vehicle Tires7.4. Tire Derived Fuel7.5. Others
8. Global Tire Recycling Market, By Application (USD Million)
8.1. Global Tire Recycling Market Value Share and Forecast, By Application, 2023-20338.2. Agriculture8.3. Automotive8.3.1. New tire manufacturing8.3.2. Refurbished tires8.4. Construction8.4.1. Asphalt8.4.2. Road construction8.4.3. Roofing solutions8.5. Manufacturing8.5.1. Cement manufacturing8.5.2. Industrial boilers8.5.3. Paper and pulp industry8.6. Mining8.7. Rubber Products8.7.1. Automotive parts manufacturing8.7.2. Gardening products8.7.3. Gym equipment8.7.4. Sound barrier systems8.7.5. Tuffs8.7.6. Other8.8. Others
9. Global Tire Recycling Market, By Process (USD Million)
9.1. Global Tire Recycling Market Value Share and Forecast, By Process, 2023-20339.2. Pyrolysis9.3. Refurbishing9.3.1. Reconditioning9.3.2. Retreading9.4. Shredding
10. Global Tire Recycling Market Forecast, 2019-2033 (USD Million)
10.1. Global Tire Recycling Market Size and Market Share
11. Global Tire Recycling Market, By Product, 2019-2033 (USD Million)
11.1. Global Tire Recycling Market Size and Market Share By Product (2019-2026)11.2. Global Tire Recycling Market Size and Market Share By Product (2027-2033)
12. Global Tire Recycling Market, By Application, 2019-2033 (USD Million)
12.1. Global Tire Recycling Market Size and Market Share By Application (2019-2026)12.2. Global Tire Recycling Market Size and Market Share By Application (2027-2033)
13. Global Tire Recycling Market, By Process, 2019-2033 (USD Million)
13.1. Global Tire Recycling Market Size and Market Share By Process (2019-2026)13.2. Global Tire Recycling Market Size and Market Share By Process (2027-2033)
14. Global Tire Recycling Market, By Region, 2019-2033 (USD Million)
14.1. Global Tire Recycling Market Size and Market Share By Region (2019-2026)14.2. Global Tire Recycling Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific14.4. Europe14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe14.5. Middle East and Africa14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa14.6. North America14.6.1. Canada14.6.2. Mexico14.6.3. United States14.7. Latin America14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Apollo Tyres Ltd15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Champlin Tire Recycling, Inc.15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Contec15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Continental AG15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Emanuel Tire LLC15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Entech Inc.15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Genan Holdings A/S15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Green Distillation Technologies Corporation LTD15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Liberty Tire Services LLC15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Michelin Group S.A.15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Re-Match Holding A/S15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments15.12. reRubber, LLC15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary15.12.4. Recent developments
15.13. Tire Disposal & Recycling Inc.
15.13.1. Company details15.13.2. Financial outlook15.13.3. Product summary15.13.4. Recent developments15.14. Tyre Recycling Solutions SA15.14.1. Company details15.14.2. Financial outlook15.14.3. Product summary15.14.4. Recent developments15.15. Wastefront AS15.15.1. Company details15.15.2. Financial outlook15.15.3. Product summary15.15.4. Recent developments15.16. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Tire Recycling Market is projected to reach USD 18.78 billion by 2033, growing at a CAGR of 3.52% during the forecast period.
Tire Recycling Market grew in market size from 2023. The Market is expected to reach USD 18.78 billion by 2033, at a CAGR of 3.52% during the forecast period.
Tire Recycling Market CAGR of 3.52% during the forecast period.
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Tire Recycling Market size is USD 18.78 billion from 2023 to 2033.
Tire Recycling Market Segment is Covered By Product, By Application, By Process
The North America region is anticipated to have the highest market share in Tire Recycling Market.
The key players in the market include Companies Covered Apollo Tyres Ltd, Champlin Tire Recycling, Inc, Contec, Continental AG, Emanuel Tire, LLC, Entech Inc., Genan Holdings A/S, Green Distillation Technologies Corporation LTD., Liberty Tire Services LLC (Lakin Tire), Michelin Group S.A., Re-Match Holding A/S, reRubber, LLC., Tire Disposal & Recycling, Inc., Tyre Recycling Solutions SA, Wastefront AS, Others
Old tyres can also be recycled by a number of small-scale sellers into various practical items like planters for planting trees in parks and drinking water tanks for cattle. It also covers the retreading and repair of worn tyres for future usage. Recycling tyres reduces their carbon footprint by giving them a new use.
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