Press release
Tire Recycling Downstream Products Market to Surpass the value US$ 7.04 Bn By 2031
The global tire recycling downstream products market was valued at US$ 5.30 Bn in 2021
It is estimated to expand at a CAGR of 2.89% from 2022 to 2031
The global tire recycling downstream products market is expected to reach US$ 7.04 Bn by the end of 2031
๐๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ -https://www.transparencymarketresearch.com/tire-recycling-downstream-products-market.html
๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง
Recycling technologies improve the circular economy by maximizing the return of materials produced. Hence, tire recycling downstream has significant impact on the economy. Tire recycling downstream products companies are focusing on the production of innovative tire recycling products to gain potential revenue benefits.
๐๐ง๐๐ซ๐๐๐ฌ๐ ๐ข๐ง ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐๐ข๐ฅ๐๐ฌ ๐ญ๐จ ๐๐ซ๐ข๐ฏ๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
The global automotive industry has been growing at a rapid pace, particularly in Asia Pacific, due to the exponential rise in population. The number of government, corporate, and personal vehicles has been increasing significantly. Abundant availability of raw materials and low-cost labor are the major factors contributing to the automotive industry market growth in Asia Pacific. Microeconomic development, effective vehicle manufacturing techniques, and rise in number of middle-class customers are driving the sales of vehicles.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=72929
๐๐ข๐ฌ๐ ๐ข๐ง ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐ข๐ง ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฌ
Road durability and quality have become a major concern for the public sector. Rise in 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. The recycled material is blended into asphalt used in road construction to increase the quality of the mixture and extend the service life of roads.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=72929
According to studies, rubber powder used in road surfaces can reduce tire noise up to one to two decibels. In the U.S., asphalt mixture containing rubber has been used in several road projects. The market for rubber-containing road surfaces has been growing in Europe since the last few years. Thus, rise in demand for tire recycling downstream products in the construction sector is likely to drive the tire recycling downstream products market in the near future.
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐๐จ๐ฉ๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ก๐ซ๐๐๐๐ข๐ง๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐๐๐ก๐ง๐ข๐ช๐ฎ๐ ๐ญ๐จ ๐๐ซ๐จ๐ฉ๐๐ฅ ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
In terms of recycling technique, the global tire recycling downstream products market has been bifurcated into pyrolysis and shredding. The shredding recycling technique held major share of 78.35% of the global market in 2021. It is estimated to dominate the market during the forecast period. Whole tires are reduced to two-inch pieces using a series of shredders, screening equipment, and magnetic separation equipment to produce chips. Magnetic separators are essential to remove steel wires from rubber tires. A screen in the discharge of the shredder controls the chip size, where the two-inch sized material falls through the screen openings, while oversized material is recirculated back to the shredder.
๐๐ง๐๐ซ๐๐๐ฌ๐ ๐ข๐ง ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐๐ฎ๐ฌ๐๐๐ฅ๐ ๐๐ง๐ ๐๐๐๐ฒ๐๐ฅ๐๐๐ฅ๐ ๐๐ฎ๐๐๐๐ซ ๐๐จ๐ฐ๐๐๐ซ ๐ข๐ง ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ
Based on product, the global tire recycling downstream products market has been classified into tire-derived fuel, tire-derived aggregate, rubber mulch, steel, rubber powder, and others (crumb rubber, etc.). The rubber powder segment dominated the global tire recycling downstream products market with 42.6% share in 2021. Rubber powder is one of the major byproducts of waste tire recycling. Rubber powder has a large number of uses in different industries. It is reused, reprocessed, or hand-crafted into new products. Hence, there is less waste and environmental degradation. Rubber powder is the final stage in the tire recycling process. Rubber powder is ground into clean powder after steel and fiber have been removed.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=72929
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค ๐จ๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ซ๐ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐จ๐ฐ๐ง๐ฌ๐ญ๐ซ๐๐๐ฆ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
Asia Pacific accounted for prominent share of 57.32% of the global market in 2021. Rise in industrialization and rapid urbanization in developing economies such as China and India are expected to drive the demand for tire recycling downstream products. Europe is also a major market for tire recycling downstream products. It held 22.78% share of the global market in 2021. ELT tires can replace traditional fossil fuels in some applications. These tires may reduce NOx, SOx, and CO2 emissions. Thus, demand for tire-derived fuel is expected to increase at a rapid pace in Europe during the forecast period. North America and Latin America are relatively minor markets for tire recycling downstream products compared to other regions.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ
Rohit Bhisey
Transparency Market Research Inc.
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