PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1773923
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1773923
Global Tire Recycling Market to Reach US$6.8 Billion by 2030
The global market for Tire Recycling estimated at US$5.9 Billion in the year 2024, is expected to reach US$6.8 Billion by 2030, growing at a CAGR of 2.3% over the analysis period 2024-2030. Tire Recycling Services, one of the segments analyzed in the report, is expected to record a 1.6% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Tire Recycling Materials segment is estimated at 3.2% CAGR over the analysis period.
The U.S. Market is Estimated at US$1.6 Billion While China is Forecast to Grow at 4.3% CAGR
The Tire Recycling market in the U.S. is estimated at US$1.6 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 4.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.9% and 1.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.
Tire Recycling Market Trends & Drivers Summarized
How Is Tire Recycling Transforming Waste Management and Sustainable Manufacturing?
Tire recycling is becoming a critical aspect of global waste management as millions of tires reach the end of their life cycle each year, posing environmental hazards if not properly disposed of or repurposed. The growing emphasis on circular economy principles and government regulations regarding tire disposal are fueling the demand for tire recycling solutions. Recycled tires are being used in various applications, including rubberized asphalt, playground surfaces, sports tracks, and as raw material for new tires and industrial products. Advanced tire recycling methods, such as pyrolysis and devulcanization, are gaining traction as industries seek efficient and sustainable ways to convert waste tires into valuable secondary materials. However, challenges such as collection inefficiencies, high processing costs, and market volatility for recycled rubber remain key concerns. As industries push toward sustainable raw materials and resource efficiency, how will innovations in tire recycling reshape the future of rubber manufacturing and environmental conservation?
What Technological Innovations Are Advancing Tire Recycling?
The latest advancements in tire recycling technology focus on improving material recovery efficiency, enhancing sustainability, and expanding market applications. Pyrolysis technology is enabling the conversion of end-of-life tires into fuel oil, carbon black, and steel, reducing dependency on virgin resources. Cryogenic grinding is enhancing the production of fine rubber powders used in high-performance industrial applications. Devulcanization technology is allowing rubber to be reused in new tire manufacturing, reducing reliance on synthetic rubber. AI-driven sorting and shredding systems are optimizing the recycling process by improving material separation and reducing waste. Additionally, 3D printing applications using recycled rubber composites are emerging, further expanding the scope of sustainable tire reuse.
Why Is the Demand for Tire Recycling Increasing?
The rising environmental concerns associated with landfill waste, increasing regulations on tire disposal, and growing demand for sustainable construction materials are driving the demand for tire recycling. The expanding automotive sector, combined with the push for eco-friendly manufacturing, is encouraging the use of recycled rubber in new tires. Additionally, the rising popularity of rubberized asphalt in road construction is creating new opportunities for tire-derived materials.
What Factors Are Driving the Growth of the Tire Recycling Market?
The market is growing due to advancements in pyrolysis and devulcanization, increasing demand for recycled rubber in various industries, strict government policies on tire waste disposal, and rising adoption of circular economy practices. As industries continue to seek innovative solutions for sustainable resource utilization, tire recycling is expected to play a major role in reducing environmental impact and promoting green manufacturing.
SCOPE OF STUDY:
The report analyzes the Tire Recycling market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Tire Recycling Services, Tire Recycling Materials); Product (Rubber, TDF, TDA, Carbon Black, Steel Black, Other Products); Process (Mechanical Shredding Process, Ambient Grinding Process, Pyrolysis Process, Devulcanization Process, Other Processes); End-Use (Automotive End-Use, Construction End-Use, Manufacturing End-Use, Other End-Uses)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 42 Featured) -
AI INTEGRATIONS
We're transforming market and competitive intelligence with validated expert content and AI tools.
Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.