Global Tire Recycling Market 2024–2033

Reports Description

As per the current market research conducted by CMI Team, the global Tire Recycling Market is expected to record a CAGR of 3.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 6.22 billion. By 2032, the valuation is anticipated to reach USD 8.32 billion.

Top 10 Tire Manufacturing Countries In 2021, (Including Import and Export)

  According to CMI Market Research Analysis (Approx)

The tire recycling market refers to the industry involved in the collection, processing, and reuse of used tires, diverting them from landfills and promoting sustainability. It encompasses various activities such as tire collection, shredding, granulation, and the manufacturing of recycled tire products.

The nature of the market is driven by environmental concerns, government regulations, and the demand for recycled tire materials in industries like construction and manufacturing. Current trends in the market include technological advancements in recycling processes, the adoption of circular economy principles, increasing consumer awareness of sustainability, and the development of innovative applications for recycled tire materials.

Tire Recycling Market – Significant Growth Factors

The Tire Recycling Market presents significant growth opportunities due to several factors:

• Environmental Concerns: Growing awareness about the environmental impact of tire waste and the need for sustainable waste management practices drive the demand for tire recycling. Environmental regulations and initiatives encourage the proper disposal and recycling of tires to reduce pollution and conserve resources.

• Government Regulations: Governments worldwide implement strict regulations to promote tire recycling and reduce tire waste in landfills. Compliance with these regulations becomes a driving force for tire manufacturers, retailers, and consumers, fostering the growth of the tire recycling market.

• Circular Economy Principles: The adoption of circular economy principles in various industries, including tire recycling, drives the market growth. The focus on resource efficiency, waste reduction, and recycling promotes the development of innovative recycling technologies and the utilization of recycled tire materials in various applications.

• Increasing Demand for Recycled Tire Products: The market offers opportunities for the development and expansion of recycled tire product applications, such as rubberized asphalt, playground surfaces, and sports fields. The demand for sustainable and cost-effective alternatives to conventional materials drives the growth of these applications.

• Growing Demand for Sustainable Construction: The construction industry is increasingly focusing on sustainable practices and materials. Recycled tire products, such as rubberized asphalt, can be used in road construction, reducing the consumption of virgin materials and offering improved durability and performance. This presents an opportunity for tire recycling companies to cater to the construction sector’s sustainability needs.

• Emerging Markets and Developing Countries: As developing countries experience economic growth and urbanization, the demand for tires and subsequent tire waste increases. This creates opportunities for tire recycling companies to enter these markets and establish recycling facilities to meet the rising demand for sustainable waste management solutions. Expanding operations into emerging markets can drive market growth and contribute to global tire waste reduction efforts.

Tire Recycling Market – Mergers and Acquisitions

The Tire Recycling Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Tire Recycling Market include:

• Michelin and Enviro: In 2020, Michelin, a tire manufacturer, joined forces with Enviro, a Swedish tire recycling company, to form a partnership aimed at developing an innovative tire recycling technology called “pyrolysis.” Their goal was to increase the recycling of used tires and promote a circular economy for tire materials.

• Liberty Tire Recycling and Bridgestone Americas: In 2018, Liberty Tire Recycling, a prominent tire recycling company, partnered with Bridgestone Americas, a major tire manufacturer. Together, they focused on advancing the sustainable use of tire-derived materials in various applications, including sports surfaces, playgrounds, and landscaping projects. The collaboration aimed to maximize the value of recycled tires and contribute to environmental sustainability.

• Pyrolyx and Continental Carbon Company: Pyrolyx, a German tire recycling company, entered a strategic partnership with Continental Carbon Company, a global carbon black producer, in 2019. The partnership aimed to enhance the supply of recovered carbon black, a valuable material derived from recycled tires, to meet the increasing demand in the rubber and plastics industries.

• Scandinavian Enviro Systems acquiring Treadcraft Limited: In 2020, Scandinavian Enviro Systems completed the acquisition of Treadcraft Limited, a tire recycler based in Canada. The acquisition aimed to strengthen Enviro’s presence in North America and expand its capacity for recycling end-of-life tires through innovative pyrolysis technology.

• Liberty Tire Recycling acquired Lakin Tire: In 2020, Liberty Tire Recycling acquired Lakin Tire, one of the largest tire recycling companies in the United States. The acquisition expanded Liberty Tire Recycling’s footprint and capabilities, enabling the company to enhance its tire collection, recycling, and processing operations.

• Michelin acquiring Lehigh Technologies: In 2017, Michelin acquired Lehigh Technologies, a leading manufacturer of micronized rubber powders derived from recycled tires. This acquisition allowed Michelin to enhance its expertise in sustainable tire manufacturing and improve the efficiency of its tire recycling operations.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Tire Recycling Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Tire Recycling Market	Tyre Bead Wire Market	Vehicle Roadside Assistance Market
CAGR 3.7% (Approx)	CAGR 8.53% (Approx)	CAGR 4.1% (Approx)
USD 8.32 Billion by 2032	USD 1398.17 Million by 2030	USD 34.8 Billion by 2030

Tire Recycling Market – Significant Threats

The Tire Recycling Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Illegal Dumping: One of the significant threats to the tire recycling market is the illegal dumping of tires. Improper disposal of tires in landfills or unauthorized areas can lead to environmental pollution, fire hazards, and health risks. It undermines the efforts of legitimate tire recyclers and hampers the growth of the industry.

• Lack of Infrastructure: Insufficient infrastructure for tire collection and recycling poses a threat to the market. In some regions, the lack of adequate collection systems and recycling facilities limits the effective management of used tires. This hinders the recycling process and prevents the industry from reaching its full potential.

• Market Volatility: Fluctuations in raw material prices, such as rubber and steel, can impact the profitability of tire recycling companies. These price fluctuations, influenced by global market dynamics and supply-demand imbalances, can pose financial challenges, and affect the economic viability of tire recycling operations.

• Technological Challenges: Tire recycling involves complex processes, including shredding, grinding, and separating various components. Technological challenges, such as the difficulty in efficiently separating rubber from steel or textile reinforcements, can impact the quality and marketability of recycled tire products. Overcoming these technological hurdles is crucial to ensure the commercial viability and competitiveness of the tire recycling market.

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	2023
Forecast Period	2024-2033
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.

Category-Wise Insights

By Process:

• Pyrolysis: Pyrolysis is a process in the tire recycling market that involves heating used tires in the absence of oxygen to break them down into valuable byproducts, such as carbon black, oil, and gas. The trend in pyrolysis technology is focused on improving efficiency, enhancing product quality, and developing sustainable methods to extract maximum value from discarded tires.

• Shredding: Shredding in the tire recycling market refers to the process of mechanically breaking down used tires into smaller pieces or shreds. This facilitates further processing and enables the extraction of valuable materials. Current trends in shredding technology include the development of high-capacity shredders, improved efficiency, and the integration of advanced sorting and separation systems for enhanced recycling outcomes.

By Product:

• Crumbed Rubber: Crumbed rubber refers to the process of grinding down used tires into small granules, which can be further used in various applications such as sports surfaces, playgrounds, and asphalt paving. The market trend for crumbed rubber is driven by the increasing demand for sustainable and durable alternatives to conventional materials.

• Tire Derived Fuel (TDF): Tire Derived Fuel involves using shredded or chipped tires as a substitute for traditional fossil fuels in industrial processes like cement kilns or power plants. The market trend for TDF is influenced by the focus on reducing greenhouse gas emissions and promoting energy efficiency through the utilization of tire waste.

• Others: The “Others” category in the tire recycling market encompasses various innovative and emerging applications of recycled tire materials. This includes uses in civil engineering projects, rubberized asphalt, construction materials, and even creative products like art installations. The trend for “Others” is driven by continuous research and development efforts to explore new possibilities and expand the market for recycled tire materials.

By Application:

• Manufacturing: In the tire recycling market, the manufacturing sector refers to the utilization of recycled tire materials in the production of new tires or rubber-based products. The trend in this application segment includes the increasing adoption of tire-derived materials by tire manufacturers to enhance sustainability and reduce reliance on virgin resources.

• Construction: In the construction sector, tire recycling involves the use of recycled tire materials in various construction applications, such as road pavement, civil engineering projects, and building materials. The trend in this segment involves the growing demand for sustainable and durable construction materials derived from recycled tires, promoting circular economy principles.

• Rubber Products: The rubber products application segment focuses on utilizing recycled tire materials in the manufacturing of rubber-based products like mats, flooring, athletic surfaces, and automotive components. The trend in this segment includes the development of advanced processing techniques to produce high-quality recycled rubber products with improved performance and environmental attributes.

• Others: The “Others” application category encompasses diverse sectors utilizing tire-derived materials, such as energy generation, agriculture, landscaping, and arts and crafts. The trend in this segment involves the exploration of innovative and niche applications for recycled tire materials, expanding the market beyond traditional sectors and creating new opportunities for tire recycling companies.

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.

Competitive Landscape – Tire Recycling Market

The Tire Recycling Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• 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

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships. For example, the collaboration between Michelin and Pyrowave in 2021. This partnership aims to develop innovative technology for recycling end-of-life tires using microwave technology. The goal is to enhance the efficiency and sustainability of tire recycling processes.

Several new players have entered the Tire Recycling Market, leveraging innovation and development to make their mark in the industry. These emerging players focus on advanced recycling technologies, such as pyrolysis and devulcanization, to extract valuable materials from used tires efficiently.

They also emphasize the development of sustainable and high-value tire-derived products to meet market demands. Key players dominating the market include Liberty Tire Recycling, Lakin Tire, and Genan. These established companies have extensive recycling infrastructure, strong industry partnerships, and a wide range of recycled tire products, allowing them to maintain a significant market share and influence industry trends.

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

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• 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