Tire Derived Fuel Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the size of the global tire derived fuel market was worth USD 430 million in 2023 and is predicted to reach USD 632.4 million in 2029 from USD 458.5 million in 2024, with a CAGR of 6.64% over the foreseen period.

The rising cost of fuel will not be coming down anytime soon. In addition, fossil fuel is still the most common natural resource used in cement manufacturing plants, and demand for it is rising. Tire-derived fuel (TDF) is being used by cement manufacturing enterprises to augment their main fuel source for firing cement kilns.

Global Tire Derived Fuel Market Report Scope:

• Market Size (2029): USD 458.5 million
• Market Size (2023): USD 430 million
• CAGR (2024 to 2029): 6.64%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: End User Industry, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Emanuel Tire, ETR Group, Front Range Tire Recycle, Inc., Globarket Tire Recycling LLC, L & S Tire Company, Lakin Tire West Inc., Liberty Tire Recycling, Ragn-Sells Group, Reliable Tire Disposal, Renelux Cyprus Ltd, ResourceCo Pty Ltd, Scandinavian Enviro Systems AB, Tire Disposal & Recycling, Inc and West Coast Rubber Recycling Inc, and Others.

Market Drivers:

The tire-derived fuel market is expanding due to rising production, rising car sales, and rising tyre manufacturing enterprises. Its advantages, such offering a higher heating value than coal or wood, are also contributing to its sharp increase. Moreover, it has a heating value that is more than twice as high as wood and around one-third higher than coal. When compared to coal, which has a higher sulphur content, fuel obtained from tyres also aids in lowering sulphur oxide emissions. Additionally, the market demand is being further stimulated by the growing tyre production in emerging economies as a result of rising disposable income.

There are environmental benefits to using TDF. In regulated combustion systems, when used correctly, TDF produces lower carbon emissions than other fossil fuels. Moreover, the utilisation of TDF in industrial processes might reduce the requirement for coal and oil, both of which lead to the depletion of natural resources and the release of pollutants. Therefore, by promoting the use of TDF, industries can help create a more circular and sustainable economy.

When compared to other fuels used in waste to energy systems, the combustion of tire-derived fuel offers superior operational consistency. The market is anticipated to increase during the forecast period thanks to the advantages of gasoline obtained from tyres.

Market Restraints:

The growth of the tire derived fuel market is limited by factors such as increased tyre durability, increased global infrastructure development, concerns about the use of tyres as fuels, high processing costs associated with extracting fuel from tyres, and financial constraints related to tyre recycling.

Furthermore, COVID-19 had a significant negative influence on the global market for gasoline obtained from tyres. Nearly all of the major nations saw a slowdown in economic growth, which had an impact on consumer purchasing trends. Furthermore, because of the lockdown imposed in multiple nations, both domestic and international transportation has been hindered. This had a substantial effect on the supply chains of many different businesses worldwide and widened the supply-demand mismatch. Therefore, it is anticipated that a shortage of raw materials will slow down the rate at which fuel made from tyres is produced, which will have a detrimental effect on market expansion.

Regulatory obstacles and compliance requirements about safety and pollution are also significant challenges. Rules and regulations must be adhered to to prevent the combustion of TDF from producing harmful pollutants or toxins. Adhering to these regulatory requirements may result in higher costs and challenges for tire-derived fuel TDF market players.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/tire-derived-fuel-market

Key Insights from the Report:

• Based on End-user industry, the cement kilns segment is estimated to dominate the global tire derived fuel market.
• Asia-Pacific dominated the tire derived fuel market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the North America region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By End-User Industry:

• Cement Kilns
• Pulp and Paper Mills
• Utility and Industrial Boilers

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Tire Derived Fuel Market, By End-Use Industry
6.1.1 Cement Kilns
6.1.2 Pulp and Paper Mills
6.1.3 Utility and Industrial Boilers
6.1.4 Market Size Estimations & Forecasts (2024-2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Tire Derived Fuel Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By End-Use Industry
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By End-Use Industry
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By End-Use Industry
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By End-Use Industry
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By End-Use Industry

8. Key Player Analysis
8.1 Emanuel Tire
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Front Range Tire Recycle, Inc
8.3 Globarket Tire Recycling LLC
8.4 L & S Tire Company
8.5 Lakin Tire West Inc
8.6 Liberty Tire Recycling
8.7 Ragn-Sells Group
8.8 Reliable Tire Disposal
8.9 Renelux Cyprus Ltd
8.10 Scandinavian Enviro Systems AB

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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