The tire recycling market is projected to reach $8.21 billion by 2032.
From GlobeNewswire: 2025-03-13 10:00:00
The tire recycling market is projected to reach $8.21 billion by 2032, growing at a CAGR of 3.55% from 2024 to 2032. Key players include Liberty Tire Recycling, GENAN HOLDING A/S, and ResourceCo, among others. Stringent government regulations and increasing consumer demand for eco-friendly products are driving market growth.
Asia Pacific led the tire recycling market in 2023, accounting for 44% of the market share. Countries like China, India, Japan, and South Korea are major producers of end-of-life tires (ELT). Factors like cost-effective recycling processes and availability of cheap labor have encouraged the establishment of large-scale recycling plants in the region.
Rubber accounted for 38% of the market share in 2023, with applications in automotive, construction, sports, and tire industries. Building & Construction held the highest market share at 42% in 2023, with recycled rubber used in products like rubberized asphalt and roofing materials. Government initiatives promoting environmental protection are driving the demand for recycled tire products.
Recent developments in the tire recycling market include Liberty Tire Recycling expanding its processing capacity, Scandinavian Enviro Systems partnering with tire manufacturers for pyrolysis recycling, and Bridgestone launching a pilot initiative for using devulcanization technology in new tire manufacturing. These initiatives aim to meet the growing demand for sustainable tire products. SNS Insider is offering a full research report on the Tire Recycling Market for 2024-2032. The report covers market dynamics impact analysis, statistical insights, competitive landscape, segmentation by product and application, regional analysis, company profiles, and more. For more information or customization options, contact [email protected].
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Read more at GlobeNewswire: Tire Recycling Market Projected to Reach USD 8.21 Billion