[Latest] Global Tire Recycling Market Size/Share Worth USD

Austin, TX, USA, July 03, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Tire Recycling Market Size, Trends and Insights By Process (Pyrolysis, Shredding), By Product (Crumbed Rubber, Tire Derived Fuel, Others), By Application (Manufacturing, Construction, Rubber Products, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Tire Recycling Market size & share was valued at approximately USD 6.22 Billion in 2022 and is expected to reach USD 6.43 Billion in 2023 and is expected to reach a value of around USD 8.32 Billion by 2032, at a compound annual growth rate (CAGR) of about 3.7% during the forecast period 2023 to 2032.”

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Tire Recycling Market: Growth Factors and Dynamics

Industry Collaboration: Collaborative efforts among industry players are driving the tire recycling market. Companies, associations, and research institutions are working together to develop innovative recycling technologies, improve recycling efficiency, and explore new applications for recycled tire materials. Such collaborations foster knowledge exchange and accelerate the growth of the market.

Sustainable Development Goals: The tire recycling market aligns with the United Nations’ Sustainable Development Goals (SDGs). Recycling tires contribute to several SDGs, including responsible consumption and production, climate action, and sustainable cities and communities. The pursuit of these global goals by governments, organizations, and individuals further supports the growth of the tire recycling market, as it addresses pressing environmental and societal challenges.

Environmental Awareness: Increasing concern for the environment is driving the demand for tire recycling. Improper tire disposal leads to pollution and health risks. Recycling tires reduces waste, conserves resources, and minimizes negative impacts on ecosystems.

Government Regulations: Governments worldwide are implementing strict rules to promote tire recycling. These regulations aim to reduce tire waste in landfills and encourage recycling technologies. Compliance with these regulations is essential for tire manufacturers, retailers, and consumers.

Demand for Recycled Tire Products: The market is witnessing a rise in demand for recycled tire products. These products are used in road construction, civil engineering, and manufacturing new tires, footwear, and consumer goods. Recycled tire products are cost-effective and durable, making them increasingly popular.

Technological Advancements: Tire recycling technologies have improved, enhancing the efficiency of the recycling process. Innovative techniques like cryogenic grinding and pyrolysis extract valuable materials from used tires, expanding the range of recycled tire products.

Circular Economy Initiatives: The concept of a circular economy, focusing on reusing and recycling resources, is gaining momentum. Stakeholders are adopting circular economy principles to reduce waste and promote sustainable resource use, driving the growth of tire recycling.

Public Awareness and Education: Public awareness campaigns and educational initiatives highlight the benefits of tire recycling. Consumers are becoming more aware of the environmental impact of tire waste and actively seek out recycled tire products. Increasing awareness about tire recycling practices fuels market demand.

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 6.43 Billion
Projected Market Size in 2032	USD 8.32 Billion
Market Size in 2022	USD 6.22 Billion
CAGR Growth Rate	3.7% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Process, Product, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Tire Recycling report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Tire Recycling report has been modified to include the COVID-19 impact study prior to delivery.)

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Tire Recycling Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Tire Recycling Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Disruption in Supply Chain: The tire recycling market experienced significant disruptions in the supply chain due to the COVID-19 pandemic. Lockdown measures, travel restrictions, and temporary closure of recycling facilities impeded the collection and transportation of used tires, affecting the overall volume of tires available for recycling.

The decline in Tire Demand: The economic slowdown and reduced mobility during the pandemic led to a decline in tire demand across various sectors, including automotive, construction, and industrial. With fewer tires reaching their end-of-life stage, the supply of used tires for recycling diminished, impacting the tire recycling market.

Resumption of Operations: As restrictions eased and economic activities resumed, tire recycling facilities adapted to the new normal. They implemented safety protocols, social distancing measures, and remote work arrangements to ensure the health and well-being of their employees while continuing tire recycling operations.

Government Support and Incentives: Governments recognized the importance of maintaining a sustainable tire recycling industry and provided support to mitigate the impact of the pandemic. Financial assistance, grants, and incentives were offered to support the continued operations of recycling facilities and encourage the use of recycled tire products.

Innovation and Diversification: To overcome the challenges posed by COVID-19, the tire recycling industry focused on innovation and diversification. Companies explored new recycling technologies, such as advanced pyrolysis and devulcanization processes, to improve efficiency and increase the range of recycled tire products.

Circular Economy Initiatives: The tire recycling market is aligned with the principles of the circular economy, emphasizing the reuse and recycling of resources. Stakeholders promoted the use of recycled tire materials in various applications, including civil engineering projects, rubberized asphalt, and sustainable manufacturing, to create a closed-loop system and reduce waste.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Tire Recycling Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Key questions answered in this report:

What is the size of the Tire Recycling market and what is its expected growth rate?
What are the primary driving factors that push the Tire Recycling market forward?
What are the Tire Recycling Industry's top companies?
What are the different categories that the Tire Recycling Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Tire Recycling market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Tire Recycling Market:

Liberty Tire Recycling LLC
Genan Holding A/S
Scandinavian Enviro Systems AB
ECO Green Equipment
Lakin Tire West Inc.
Pyrolyx AG
CRM (Cachan Recycling Method)
Tyre Recycling Solutions SA
Western Tire Recyclers
Reliable Tire Recycling Inc.
Others

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Tire Recycling Market – Regional Analysis

The Tire Recycling Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: In North America, a significant trend in the tire recycling market is the increasing emphasis on sustainability and environmental responsibility. The region is witnessing a growing demand for recycled tire products, driven by initiatives promoting circular economy practices and the use of eco-friendly materials. Additionally, there is a rising focus on advanced recycling technologies to improve efficiency and maximize resource recovery. Liberty Tire Recycling is a dominant player in North America, offering comprehensive tire recycling solutions and leading the market with its extensive network of collection and processing facilities.

Europe: Europe is experiencing a trend towards a circular economy and resource efficiency, which is driving the tire recycling market. The region has established stringent regulations and targets for tire recycling and waste management, leading to a high rate of tire recovery and recycling. The demand for high-quality recycled tire materials for various applications, including construction, sports surfaces, and automotive components, is on the rise. Leading manufacturers in Europe include ETRMA (European Tyre and Rubber Manufacturers’ Association) members, who actively promote sustainable tire recycling practices and compliance with regulatory requirements.

Asia-Pacific: In the Asia-Pacific region, a significant trend in the tire recycling market is the increasing adoption of tire-derived fuel (TDF) as an alternative fuel source in industries such as cement manufacturing and energy generation. The region is witnessing rapid industrialization and urbanization, leading to a higher generation of waste tires. The focus is on finding sustainable and cost-effective solutions for tire disposal, leading to the growth of TDF utilization. The dominating manufacturers in this region vary across countries, with companies like Shanghai Genan and Tianjin Huashi Rubber making significant contributions to the tire recycling market in China.

LAMEA: The LAMEA (Latin America, Middle East, and Africa) region is witnessing a growing trend in tire retreading as a sustainable solution. Retreading involves refurbishing worn-out tires with new treads, extending their lifespan and reducing the demand for new tires. This trend is driven by the region’s economic considerations, as retreaded tires offer cost savings while promoting resource conservation. The dominating manufacturers in this region include companies like Vipal Rubber and Remold Tire, which specialize in tire retreading technologies and cater to the local market demand.

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The Tire Recycling Market is segmented as follows:

By Process

Pyrolysis
Shredding

By Product

Crumbed Rubber
Tire Derived Fuel
Others

By Application

Manufacturing
Construction
Rubber Products
Others

By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

Click Here to Get a Free Sample Report of the Global Tire Recycling Market @ https://www.custommarketinsights.com/request-for-customization/?reportid=24320

This Tire Recycling Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Tire Recycling Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Tire Recycling Market? What Was the Capacity, Production Value, Cost and PROFIT of the Tire Recycling Market?
What Is the Current Market Status of the Tire Recycling Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Tire Recycling Market by Considering Applications and Types?
What Are Projections of the Global Tire Recycling Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Tire Recycling Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Tire Recycling Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Tire Recycling Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Tire Recycling Industry?

Click Here to Access a Free Sample Report of the Global Tire Recycling Market @ https://www.custommarketinsights.com/request-for-customization/?reportid=24320

Reasons to Purchase Tire Recycling Market Report

Tire Recycling Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Tire Recycling Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Tire Recycling Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Tire Recycling Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Tire Recycling market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Tire Recycling Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/request-for-customization/?reportid=24320

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Tire Recycling market analysis.

The competitive environment of current and potential participants in the Tire Recycling market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Tire Recycling market should find this report useful. The research will be useful to all market participants in the Tire Recycling industry.
Managers in the Tire Recycling sector are interested in publishing up-to-date and projected data about the worldwide Tire Recycling market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Tire Recycling products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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