Tire Recycling Downstream Products Market to Witness an Outstanding Growth by 2021-2031

U.S. Tire Recycling Downstream Products Market To Surpass Valuation Of US$ 1.1 Bn By 2031

U.S. Tire Recycling Downstream Products Market: Introduction

Transparency Market Research delivers key insights on the tire recycling downstream products market in the U.S. In terms of revenue, the tire recycling downstream products market in the U.S. is estimated to expand at a CAGR of 2.5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the tire recycling downstream products market in the U.S.

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The tire recycling downstream products market in the U.S. has been positively impacted by the rise in the demand for tire recycling downstream products in cement manufacturing, pulp and paper mills, and sports complexes & playgrounds in the U.S. Thus, increase in the demand for tire recycling downstream products in various end-use industries is propelling the tire recycling downstream products market in the U.S.

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U.S. Tire Recycling Downstream Products Market: Dynamics

The automotive industry in the U.S. has been expanding at a healthy pace since the past few years. The number of government, corporate, and personal vehicles has been increasing significantly due to large population, high purchasing power, and disposable income of the people in the country. Furthermore, abundant availability of raw materials and skilled labor is boosting the automobile production industry.

Macroeconomic development, effective and efficient vehicle manufacturing techniques, and rise in the number of middle-class consumers are key factors driving vehicle sales. Additionally, increase in popularity of electric vehicles in the U.S. to overcome environmental pollution is fueling the demand for newer electric vehicles.

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Rise in Construction & Infrastructure Activities to Drive U.S. Tire Recycling Downstream Products Market

Investments in construction of commercial, residential, and industrial infrastructure has been rising in the U.S. since the past few years. Construction volumes in the U.S increased by 3% y/y in 2018 and 2.1% y/y in 2019. Rise in construction spending in 2018 was driven by non-residential and residential sectors.

Furthermore, road durability and quality have become major concern for the public sector. Rise in the demand for high-performance road construction materials to avoid cracks and holes has been increasing consistently. Raw material costs for asphalt and asphalt alteration have increased significantly, creating barriers in cost-effective road construction. This has increased the need for alternative substitutes in the U.S. In turn, this is expected to drive the tire recycling downstream products market in the U.S.

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