ALBANY, New York, March 23, 2020 /PRNewswire/ -- As per the research report published by Transparency Market Research, the global tire recycling downstream products market stood at a valuation worth around US$4 Bn in 2018. During the given period of forecast ranging from 2019 to 2027, the global market is expected to exhibit a moderate CAGR of ~3%. With this rate of growth, the new valuation of the tire recycling downstream products market will be around US$6 Bn by the fall of 2027.
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Global Tire Recycling Downstream Products Market – Key Takeaways
- Based on recycling technique, the segment of shredding accounted for a larger share in the global tire recycling downstream products market in 2018.
- In terms of product, the segment of rubber powder accounted for a considerable share in the global market in 2018 and is expected to continue to lead over the forecast period.
- Based on end use, the segment of cement manufacturing has been the leading one. Presently, the cement manufacturing companies utilize tire-derived fuel to aid their main fuel for firing up cement kilns.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Tire Recycling Downstream Products Market by Recycling Technique: Pyrolysis and Shredding (Mechanical, Cryogenic, and Others); Product: Tire-derived Fuel, Tire-derived Aggregates, Rubber Mulch, Steel, Rubber Powder, and Others; and End Use: Cement Manufacturing, Pulp & Paper Mills, Utility Boilers, Construction & Infrastructure, Sports Complexes & Playgrounds, Tires & Rubber, and Others- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027, at https://www.transparencymarketresearch.com/tire-recycling-downstream-products-market.html
Global Tire Recycling Downstream Products – Key Driving Factors
- One key factor for the growth of the global tire recycling downstream products market is the poor quality of roads across several key regions in the world. It is a big concern for the public sector and has led to an increasing demand for high quality materials for road construction.
- This has prompted the use of the tire recycling downstream products as they work as highly efficient and cost effective raw materials for such demands.
- In addition to this, rubber powder derived from used or end of life tires for maximizing the asphalt quality is a highly preferred alternative. It reliable and highly cost efficient. The product also helps in improving the construction quality and life of the road.
- Another important driving factor for the market growth has been the key technological advancements in the field of rubber recycling.
- Introduction of novel concepts such as 'Reduce, Reuse, Recover' for scrap tire management is also a key driving factor for the development of the global tire recycling downstream products market.
- Increasing demand from cement and construction manufacturing industries is also helping to drive the market growth.
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Global Tire Recycling Downstream Products Market – Geographical Outlook
- Asia Pacific is the most dominant regional segment of the global tire recycling downstream products market and will continue to be so in the coming years of the forecast period.
- Rapid growth of automobile sector in the region, huge amounts of scrap tire generation each year, and adoption of new technologies for tire disposal are some of the key factors helping to drive the development of the Asia Pacific market.
- Europe is next line in terms of revenue generation after Asia Pacific, driven mainly by contribution from countries such as Germany and the UK.
Analyze Tire Recycling Downstream Products Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Tire Recycling Downstream Products Market – Key Players
Some of the prominent brands operating in the global tire recycling downstream products market are Liberty Tire Recycling, Genan Holding A/S, Lakin Tires West Inc, Ragn-Sells Group, L & S Tire Company, Scandinavian Enviro Systems AB, ETR Group, ResourceCo Pty Ltd., Probio Energy International, Renelux Cyprus Ltd, Emanuel Tire LLC, Reliable Tire Disposal, Globarket Tire Recycling LLC among others.
Tire Recycling Downstream Products Market by Recycling Technique
- Others (including Waterjet Machining Process)
Tire Recycling Downstream Products Market by Product
- Tire-derived Fuel
- Tire-derived Aggregates
- Rubber Mulch
- Rubber Powder
- Others (including Crumb Rubber and Fiber)
Tire Recycling Downstream Products Market by End Use
- Cement Manufacturing
- Pulp & Paper Mills
- Utility Boilers
- Construction & Infrastructure
- Sports Complexes & Playgrounds
- Tires & Rubber
- Others (including Chemical Industry and Steel Production Plants)
Tire Recycling Downstream Products Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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