Global tire recycling market expected to reach $8.92 billion by 2029 driven by sustainability focus

From GlobeNewswire: 2024-12-05 07:30:00

The global Tire Recycling Market is projected to reach USD 8.92 billion by 2029, with a focus on sustainability and stringent regulations driving growth. The market generates 1 billion end-of-life tires annually, with one discarded per person in developed countries. Key players include Liberty Tire Recycling, Genan Holding, and ResourceCo.

Rubber is the largest by-product segment in the tire recycling market, with applications in road construction and sports fields. Mechanical shredding is the dominant process, breaking down tires efficiently into valuable by-products like crumb rubber. The construction industry is the leading end-use sector, utilizing recycled tire products for sustainable solutions.

Asia Pacific leads the tire recycling market, with a focus on proper waste tire disposal and compliance with environmental laws. Professional services for tire recycling are in high demand due to increased environmental awareness and regulations. The region plays a critical role in ELT collection, transport, and processing for end-use products.



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