Market Summary:
The global Tire Recycling Downstream Products Market had a value of USD 6.12 billion in 2022 and is projected to reach USD 8.37 billion by 2032, with a notable compound annual growth rate (CAGR) of 2% during the forecast period.
Several key factors are contributing to the growth of market revenue, including the rapid expansion of the automotive sector, a heightened focus on addressing environmental concerns, and the increasing utilization of recycled tire materials in infrastructure and construction.
The construction and infrastructure industry represent the primary end-use segment for tire recycling downstream products. This sector is increasingly incorporating recycled tire materials like crumb rubber, rubberized asphalt, and tire-derived fuel due to their advantageous properties such as durability, flexibility, and resistance to adverse weather conditions. Additionally, the growing adoption of recycled tire products in construction projects involving the development of roads, bridges, and pavements is another pivotal factor fueling market revenue growth.
Strategic Developments:
· In 2021, Liberty Tire Recycling LLC entered into a partnership with Tyromer Inc., a Canadian tire recycling company, to collaborate on the development of innovative recycled rubber products. This partnership is focused on expanding the market for recycled rubber products and mitigating the environmental impact of tire waste.
· Similarly, in 2021, Genan Holding A/S announced a new partnership with Treadcraft Limited, a Canadian tire retreader. Their joint venture aims to enhance the utilization of recycled rubber in the tire retreading process, thereby contributing to waste reduction.
· In 2020, ECO Green Equipment introduced a new line of tire shredders known as the ECO Grater. These state-of-the-art shredders are specifically engineered for high-volume tire processing and are designed with a strong emphasis on energy efficiency and easy maintenance. They feature a modular design that enables customization and flexible installation.
· Also in 2020, Entech Inc. unveiled a fresh line of rubber products crafted from recycled tire rubber, named Entech Rubber Products. These versatile products are tailored for various applications, including roofing, flooring, and landscaping.
· In the same year, Scandinavian Enviro Systems AB announced a strategic partnership with Michelin, a renowned French tire manufacturer, to pioneer a novel technology for tire recycling. This partnership is geared towards enhancing the efficiency of tire recycling processes and minimizing waste.
Tire Recycling Downstream Products Market Report Scope
PARAMETERS
DETAILS
The market size value in 2022
USD 6.12 Billion
CAGR (2022 - 2032)
2%
The Revenue forecast in 2032
USD 8.37 Billion
Base year for estimation
2022
Historical data
2020-2021
Forecast period
2022-2032
Quantitative units
Revenue in USD Billion
CAGR from 2022 to 2032
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
By Product Type Outlook, End-Use Outlook, Regional Outlook
By Product Type Outlook
Rubber Powder
Steel
Fiber
Others
By End-Use Outlook
Construction
Automotive
Sports & Recreation
Others
Regional scope
North America; Europe; Asia Pacific; Latin America ; Middle East & Africa
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @
Leading Key Players in the Market:
Some of the major companies included in the global tire recycling downstream products market report are:
· Liberty Tire Recycling LLC
· Genan Holding A/S
· ECO Green Equipment
· Entech Inc.
· Scandinavian Enviro Systems AB
· Granutech-Saturn Systems
· Emanuel Tire LLC
· Lakin Tire West Inc.
· Tire Disposal & Recycling Inc.
· Global Tire Recycling Inc.
Browse Related Reports:
Electrical Submersible Pump (ESP) Market
Ethoxyquin Market
Industrial Laser Market
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Write a comment ...