PUBLISHER: Inkwood Research | PRODUCT CODE: 1260740
PUBLISHER: Inkwood Research | PRODUCT CODE: 1260740
The Germany end-of-life tire (ELT) management market is set to grow with a CAGR of 5.52% during the forecasted period. The base year considered for the studied market is 2023, and the forecast years are between 2023 to 2030. Some of the key factors associated with the country's market growth are leading tire manufacturers' emphasis on a comprehensive commitment to sustainability and the increasing number of tires being discarded as end-of-life tires in Germany.
As per a study conducted in the European region concerning the life cycle analysis of end-of-life tires, by recycling an amount of around 400,000 t of ELTs, which can be utilized as artificial turf, a reduction of approximately 280,000 t CO2/annually can be acquired. Furthermore, given the fact that the legislation concerning ELTs is becoming more stringent, new alternatives for managing these wastes are being explored.
Over the last 20 years, recycling has increased Germany's share of ELTs management from 13% to 35%. Furthermore, treatment for energy purposes reduced approximately by 15%, from 53% to 37%. As a result, the importance of tire reuse, in addition to the reduction of health and environmental risks, is set to contribute to the overall growth of the Germany end-of-life tire (ELT) management market during the forecasted period.
Top enterprises operating in the market include: Conica AG, Credential Environmental Limited, Amandus Kahl GmbH & Co KG, etc.