Tire Recycling Downstream Products Global Market Report 2021 - By Growth, Size, Share, Outlook, Forecast To 2031

The Global Tire Recycling Downstream Products Market is witnessing substantial growth, driven by increasing environmental awareness, the surge in the automotive industry, and rising demand for sustainable practices. According to recent market analysis, the tire recycling downstream products market was valued at US$ 5.30 billion in 2021 and is projected to expand at a CAGR of 2.89% from 2022 to 2031, reaching an estimated value of US$ 7.04 billion by the end of 2031.

Environmental Benefits Fueling Growth
One of the primary drivers of the tire recycling downstream products market is the growing awareness of the environmental benefits associated with tire recycling. The process involves converting discarded or end-of-life tires into valuable industrial materials, utilizing methods such as pyrolysis, cryogenic recycling, and repurposing old tires. Sustainable industry practices and a focus on reducing carbon impact are contributing to the market's growth.

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Innovation and Technological Advancements
The tire recycling downstream products market is witnessing growth not only through environmental considerations but also due to continuous innovation and technological advancements. Companies in the global market are emphasizing strategic expansion, research and development (R&D), organic and inorganic growth strategies, long-term associations, strategic alliances, and supply chain agreements to fuel industrial growth.

Automotive Industry's Impact
The global automotive industry's rapid growth, particularly in Asia Pacific, is a significant factor driving the tire recycling downstream products market. The increase in the number of vehicles, both government and personal, has led to a surge in demand for tire recycling products. Additionally, the rise in popularity of electric vehicles in North America, Asia Pacific, and Europe is expected to further boost the demand for tire recycling downstream products.

Construction and Infrastructure Demand
The tire recycling downstream products market is also experiencing an upswing due to the rise in demand for these products in the construction and infrastructure sectors. With a focus on road durability and quality, the use of recycled materials derived from tires, such as rubber powder in asphalt, is gaining traction. This alternative proves to be a cost-effective substitute for traditional asphalt, enhancing the quality of road construction materials.

Shredding Recycling Technique Dominates
In terms of recycling techniques, the global tire recycling downstream products market is bifurcated into pyrolysis and shredding. Shredding, which involves reducing whole tires into two-inch pieces, held a major share of 78.35% in 2021 and is expected to dominate the market further. The process includes the use of shredders, screening equipment, and magnetic separation equipment to produce chips. This technique is essential for removing steel wires from rubber tires.

Regional Dynamics
Asia Pacific accounted for a prominent share of 57.32% in 2021, driven by industrialization and rapid urbanization in countries like China and India. Europe, holding a 22.78% share, is also a significant market, with a focus on reducing emissions through the use of tire-derived fuel. North America and Latin America, while relatively minor markets, still contribute to the overall growth of the tire recycling downstream products market.

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Analysis of Key Players in Global Tire Recycling Downstream Products Market
Liberty Tire Recycling, Ragn-Sells Group, ResourceCo Pty Led, Lakin Tire West Inc., L & S Tire Company, Probio Energy International, Renelux Cyprus Ltd, Globarket Tire Recycling LLC, Emanuel Tire, LLC, Tire Disposal & Recycling, Inc., Reliable Tire Disposal, West Coast Rubber Recycling Inc., Scandinavian Enviro Systems AB, Front Range Tire Recycling, Inc., ETR Group, Lehigh Technologies, Inc., and GENAN HOLDING A/S are the prominent entities operating in the market.

Market Segmentation
Recycling Technique
• Pyrolysis
• Shredding

Product
• Tire-Derived Fuel
• Tire-Derived Aggregate
• Rubber Mulch
• Steel
• Rubber Powder
• Others

End-use
• Cement Manufacturing
• Pulp & Paper Mills
• Utility Boilers
• Construction & Infrastructure
• Sports Complex & Play grounds
• Tire and Rubber
• Others

Regions Covered
• North Americas
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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