Market Research Report
Global Tire-Derived Fuel Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||895028|
|Published||Content info||111 Pages
Delivery time: 1-2 business days
|Global Tire-Derived Fuel Market 2019-2023|
|Published: July 24, 2019||Content info: 111 Pages||
Tire-derived fuel is derived from scrap or end-of-life tires. Scrap tires can either be whole tires or tires shredded into uniform pieces according to the requirements of the end-users. Technavio's tire-derived fuel market analysis considers sales from cement kilns, pulp and paper mills, and utility and industrial boilers. Our analysis also considers the sales of tire-derived fuel in the Americas, APAC, and EMEA. In 2018, the cement kilns segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as a rise in urbanization and global population will play a significant role in the cement kilns segment to maintain its market position. Also, our global tire-derived fuel market report looks at factors such as growing automotive fleets, benefits of tire-derived fuel over conventional fuels, and regulatory mandates. However, increase in tire durability and rise in global infrastructure development, concerns over the use of tire as fuels, and economic constraints related to tire recycling may hamper the growth of the tire-derived fuel industry over the forecast period.
Tire-derived fuel is one of the outputs of the proper utilization of the end-of-life tires. Tire-derived fuel is widely being used as a fuel in several industries owing to its benefits. Some of the benefits of tire-derived fuel such as the heating value of tire-derived fuel is approximately one-third more than that of coal and more than double that of wood. Moreover, tire-derived fuel helps reducing sulfur oxide emissions when compared with coal, which has high sulfur content. Such benefits will lead to the expansion of the global tire-derived fuel market at a CAGR of almost 3% during the forecast period.
To reduce the GHG emissions and move toward a sustainable ecosystem, there has been a spurt in demand for EVs and HEVs in the automotive industry. EVs are the best alternative for reducing the carbon footprint. Hence, EVs are considered to be a green solution for decarbonization of the transport sector. HEVs combine the advantages of both gasoline engines and electric motors and can be configured to meet certain objectives such as improved fuel efficiency, increased power, or additional auxiliary power for power tools and electronic devices. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global tire-derived fuel market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global tire-derived fuel market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading tire-derived fuel manufacturers, that include Lakin Tire, Liberty Tire Recycling LLC, Ragn-Sellsforetagen AB, Renelux Cyprus Ltd., ResourceCo Pty Ltd., and Scandinavian Enviro Systems AB.
Also, the tire-derived fuel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key leading countries