How the Recent Developments in Tire Recycling Have Been Beneficial for Environment and Society

The tire recycling process plays a major role in mitigating emerging environmental problems issues. The process includes collecting, processing, and repurposing old and dumped-out tires and promotes sustainability by delivering a wide range of products that are used in footwear, civil engineering, consumer goods, and many more. With a continuous sequence of product launches, strategic mergers, and acquisitions on board, the tire recycling market has experienced significant growth. This blog post includes the key developments and involvement of prominent companies in the industry.

Why is tire recycling important?
Tires are non-biodegradable, which is why they will can continue to fill waste sites for years without breaking down. Moreover, their hollow, round shapes can collect and store water and become the home for disease-free rodents such as mosquitoes. The stockpiling of tires not only stands out as a core reason for various waterborne diseases but also releases harmful greenhouse gases that can critically affect the environment. The tire recycling process can be an ideal solution for all these turning-out issues. It can conserve landfill space, create beneficial new products, prevent the spread of several dangerous diseases, and most importantly help maintain a clean environment.

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Product launches by leading companies
Prominent players in the tire recycling market have recognized the numerous benefits and potential of tire recycling and have taken various initiatives to optimize upskill this process and deliver the best for the well-being of the environment and society. Companies, like Bridgestone, Waterfront, Goodyear, and many others have introduced various innovative solutions and platforms with the incorporation of modern technologies to promote tire recycling and reduce rising environmental concerns.

For instance, in June 2023, Bridgestone Corporation introduced a test unit where the production of tire-derived oil and recovery of carbon black through pyrolysis are carried out. Similarly, in October 2022, Bridgestone developed a new technology for recycling tires to reduce the carbon footprint in the automotive supply chain. These initiatives are expected to drive the growth of the tire recycling market in the coming years.

As per a new report by Allied Market Research, the global tire recycling market is anticipated to generate a revenue of $18.1 billion and grow at a CAGR of 3.4% from 2023 to 2032.

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Strategic mergers and acquisitions
The tire recycling market has also observed a series of mergers and acquisitions that have enhanced the growth of the industry. Ecore International, a leading North America-based tire rubber announced its acquisition of 360 Tire Recycling Group. This acquisition helped Ecore to strengthen its position in collecting tires and buffings and aid in procuring raw materials businesses delivering cutting-edge flooring and surfacing solutions.

These strategic proceedings show the industry's recognition of the collaborations that can be gained through smart amalgamation. By acquiring organizations or planning any strategic partnerships with complementary expertise, businesses can expand their product offerings, supply chain, and research capabilities, and level up their position with unparalleled experience.

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The role of research and innovation
The true success of any organization depends on its ability to brainstorm new ideas and bring innovative solutions. For instance, Michelin, a global leader in sustainable mobility has launched its first new-generation tire recycling platform playcling t in collaboration with Enviro to recover oil, steel, carbon black, and gas from waste or end-of-life tires. Such innovative approaches can prominently contribute to eradicating various environmental issues caused due to landfills of dumped tires and help various sectors in several aspects.

Moreover, partnerships and collaborations between top-notch tire recycling companies and research institutions would bringhave brought many cost-effective platforms and solutions for tire recycling ultimately helping the market grow exponentially.
To conclude, tire recycling is a critical practice that can resolve various environmental issues and offer numerous economic and sustainability implications. With continuous technological advancements and ongoing research, it is expected that the tire recycling market would is surely going to evolve with new possibilities and opportunities in the coming era.

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