The global tire recycling market is appraised to have a market size of USD 4,600.28 million by 2028 with and annual CAGR rate of 3.41% from 2021 to 2028. The technological innovations foremost to cost-effective methods and upsurge the possibility off tire recycling.
Dallas, Texas, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Tire recycling emerged to be an essential allied industry to the transportation and automotive sector. A massive rise in the number automotive vehicle production, surging manufacturing activities in the last couple decades led paralleled with a rise in awareness and environmental concerns associated with the by products of production and waste generated from the automotive manufacturing industry has accelerated the demand for tire recycling services.
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However, recycling plants are also observed to generate substantial waste which leads to significant depletion of air quality by polluting air also proposing the risks associated with degrading the health of community in the surrounding likely to demotivate the growth of the global tire recycling market.
Consistently increasing influx and outflux of cash flow coupled with growing liquidity with a rapidly rising demand for tire recycling as manufacturers and consumer grow aware of advantages of recycling rather than disposal realising the complexities and adversities associated with tire disposal are enhancing the growth prospects for the global tire recycling market.
Tire Recycling Market by Players
Global Rubber L&S Tire Champlin Golden By-Products Mac’s Tire Recyclers Tire Disposal & Recycling Emanuel Tire Entech Lakin General Liberty Tire Services
Tire Recycling Market by Types
Crumb Rubber Tire-derived fuel Rubberized Asphalt Mats Sports Material Automotive parts Molded Rubber Products Flooring Products
Tire Recycling Market by Applications
Additionally, rapidly advancing technological nature of recycling techniques and methods aiming to introduce highly cost-effective and large-scale supportive recycling methods with least environmental impact and reduced emissions on recycling are enabling the tire recycling market to attain sustainable growth patterns over the coming years.
Increasing efforts to enhance affordability are considered to offer a wide scope for growth of the global tire recycling market. Also, increasing government support in the form of establishing high recycling standards and deploying highly stringent regulations based on waste disposal and recycling of electronic, mechanical and other products used across the automotive sector.
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Automotive industry is typically the focal point when governments address the exponential growing concerns of eco-hazard and global warming fuelling the demand for advanced and efficient recycling plants. Tire recycling plants deal with waste tires that have either been damaged or over used. Economies have compelled tire recycling as a mandatory component realising the massively destructive disposal process.
Underdeveloped regions across the globe have historically implemented unreliable methods of disposal with irreversible environmental damage such as burning of tires which resulted in massive layers of fumes into the atmosphere. However, with increasing advancements in the global tire recycling market has allowed recycling plants and manufacturing players to utilize the worn out tires in a practical and eco-friendly manner such as using the waste tires to derive rubberized asphalt, railroad tires, playground turfs and flooring. Tires received by the commercial reprocessing plants undergo chemical treatment during which they are broken down into reusable materials.
Tire recycling market is well accepted and expanding at a sustainable rate owing to it advantageous capabilities addressing the waste disposal challenges of the world. With overfilling landmines and saturating means to waste disposal of industrial as well as on-industrial scraps, recycling has gaining significant traction as a result augmenting the global tire recycling growth. tire recycling effectively eliminates the concerns of waste disposal bodies to handle the non-biodegradable materials in the environment not easily perishable industry waste thus ensuring a rise in the popularity of the tire recycling market.
The global tire recycling market is bifurcated into diverse component elements based on the type of products offered by the market, end users and regions. The products offered by the tire recycling market includes rubberized asphalt, crumb rubber, sports material, flooring products, tire-derived fuel, mats, automotive parts and moulded rubber products each applied across a diverse range across industrial applications. The end-users consuming the recycling services at an exponential rate include the automotive sector, aviation industry, manufacturing, construction and others driving the demand for tire recycling with an increasing demand for tires and end products derived after commercial processing.
1. Introduction 1.1. Introduction 1.2. Market Definition and Scope 1.3. Units, Currency, Conversions, and Years Considered 1.4. Key Stakeholders 1.5. Key Questions Answered 2. Research Methodology 2.1. Introduction 2.2. Data Capture Sources 2.3. Market Size Estimation 2.4. Market Forecast 2.5. Data Triangulation 2.6. Assumptions and Limitations 3. Market Outlook 3.1. Introduction 3.2. Market Dynamics 3.2.1. Drivers 3.2.2. Restraints 3.2.3. Opportunities 3.2.4. Challenges 3.3. Porter’s Five Forces Analysis 3.4. PEST Analysis 4. Global TIRE RECYCLING Market by Product, 2018-2028 (USD Million) 4.1. Discrete 4.2. Crumb Rubber 4.3. Tire-derived fuel 4.4. Rubberized Asphalt 4.5. Mats 4.6. Sports Material 4.7. Automotive parts 4.8. Molded Rubber Products 4.9. Flooring Products………..continued
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