PUBLISHER: Inkwood Research | PRODUCT CODE: 1260738
PUBLISHER: Inkwood Research | PRODUCT CODE: 1260738
The Europe end-of-life tire (ELT) management market is predicted to register a CAGR of 4.99% over the forecasted years of 2023 to 2032. The market growth of the region is reinforced by key drivers, such as the high development and economic growth in Europe as well as the significant rates of waste generation, with end-of-life tires constituting nearly 0.2% of this waste.
The Europe end-of-life tire (ELT) management market growth analysis comprises the evaluation of France, Italy, Spain, Belgium, the United Kingdom, Germany, Poland, and Rest of Europe. In Europe, Italy is second only to Germany in terms of end-of-life tire recycling rates. The nation generates 380,000 metric tons of end-of-life tires annually, with tire-derived fuel representing ELTs' major end market. Furthermore, the end-of-life tire (ELT) management market growth in Italy is expanding more rapidly compared to the market for tire-derived fuel. This growth is set to continue as the demand increases, following the improvement in the industry's ability to yield reliable products while ensuring stable supplies.
On the other hand, Spain has the end-of-life tire recycling rate compared to other large European nations, with the majority of ELTs in the country remanded to tire-derived fuel uses. Spain also generates over 301,000 metric tons of end-of-life Tires annually, with the number expected to depict rapid growth over the upcoming years. This is mainly accredited to a large number of stockpiled tires in the country requiring elimination.
Major firms operating in the market are: Credential Environmental Limited, Conica AG, Geotech International BV, etc.