Tire Recycling Market to Reach $7.32 Bn, Globally, by 2031 at 3.5% CAGR: Allied Market Research

Rise in production of more vehicles that leads to the production of more tires drives the growth of the global tire recycling market.

PORTLAND, Ore., Aug. 10, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Tire Recycling Market by Process (Pyrolysis, Shredding), by Product (Crumbed Rubber, Tire Derived Fuel, Others), by Application (Manufacturing, Construction, Rubber Products, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global tire recycling industry was estimated at $5.12 billion in 2021, and is anticipated to hit $7.32 billion by 2031, registering a CAGR of 3.5% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.

Pre-determinant of growth-

Rise in production of more vehicles that leads to the production of more tires drives the growth of the global tire recycling market. Moreover, tires are non-biodegradable, thus discarding them in landfills is not a viable solution and it can lead to more pollution of the land and water. Thus, in order to properly manage scrap tires, recycling is considered an effective method, which has supplemented the market growth even more. Furthermore, countries across the world are moving towards a sustainable future by employing various eco-friendly industrial practices, which has created a number of opportunities in the industry.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/17404

Covid-19 scenario-

• Several restrictions on manufacturing activities across the world have a sheer negative impact on the global tire recycling market, especially during the initial period.
• At the same time, a steep decline in demand for automobiles worsened the market condition even more.

The shredding segment to dominate by 2031-

Based on process, the shredding segment held around three-fifths of the global tire recycling market revenue in 2021, and is expected to lead the trail by 2031, due to its cost-effectiveness and wide usability. The pyrolysis segment, nevertheless, would manifest the fastest CAGR of 3.7% from 2022 to 2031, owing to advancements in processing technologies.

Get detailed COVID-19 impact analysis on the tire recycling market: https://www.alliedmarketresearch.com/request-for-customization/17404

The manufacturing segment to rule the roost-

Based on application, the manufacturing segment generated the major share in 2021, holding nearly half of the global tire recycling market, and is projected to dominate throughout the forecast period. Extensive use of recycled material in the manufacturing industry drives the segment growth. The others segment, simultaneously, would cite the fastest CAGR of 4.2% by 2031. The construction and rubber products segments are also examined in the market report.

The tire derived fuel segment to maintain the lion's share-

By product, the tire derived fuel segment contributed to nearly half of the global tire recycling market share in 2021, and is expected to retain its dominance by 2031, owing to its extensive use in various manufacturing facilities across the world. The crumbed rubber segment, on the other hand, is expected to exhibit the fastest CAGR of 3.7% from 2022 to 2031, due to its increased use in the construction industry.

Asia-Pacific garnered the major share in 2021-

Based on region, Asia-Pacific held the major share in 2021, generating more than half of the global tire recycling market. The presence of the large automotive and construction industries fuels the market growth. LAMEA, simultaneously, would garner the fastest CAGR of 4.4% by 2031. This is attributed to increased construction activities across the province. The other regions assessed through the report include North America and Europe.

Key players in the industry-

• Big Atom Limited
• Bridgestone Corporation
• Champlin Tire Recycling
• Continental AG
• Emanuel Tire Co.
• APChemi
• Michelin
• Lakin General
• Pyrum Innovations AG
• Green buddies
• Tire Disposal & Recycling Inc.
• Entech Inc.
• Genan Holding A/S
• Green Distillation Technologies Corporation LTD
• L&S Tire Co.
• Liberty Tire Services LLC
• Wastefront

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/17404

The report analyzes these key players in the global tire recycling market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:

Waste Management Equipment Market: waste management equipment market size was valued at $45,756.9 million in 2019, and is projected to reach $55,637.9 million by 2027

Waste Management Market: global waste management market size was valued at $1,612.0 billion in 2020, and is expected to reach $2,483.0 billion by 2030

Smart Waste Management Market: smart waste management market size was valued at $1,683.0 million in 2019, and is expected to reach $4,103.6 million by 2027

Underground Waste Containers Market: underground waste containers market capacity is expected to reach $1,050.1 million in 2027, from $796.7 million in 2019, growing at a CAGR of 5.9% from 2020 to 2027

Automated waste collection system (AWCS) market: global automated waste collection system market was valued at $252.0 million in 2020, and is projected to reach $555.0 million by 2030     

Pre-Book Now with 10% Discount:

Rubber Tyred Gantry Crane Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Tire Machinery Market: Global opportunity analysis and industry forecast, 2022-2029

Tire Mold Market: Global Opportunity Analysis and Industry Forecast, 2021 - 2027

Tire Building Machinery Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Waste Processing Technologies Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): 1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg