Tire Recycling Market is projected to reach $18,137.8 million with an impressive CAGR of 3.3% by 2032

WILMINGTON, DELAWARE, UNITED STATES, August 22, 2024 /EINPresswire.com/ -- Allied Market Research published a report on the global tire recycling industry. The study states that the market is projected to reach $18,137.8 million with an impressive CAGR of 3.3% by 2032. The industry generated $11,980.9 million in 2018. The research offers an in-depth examination of business trends, competitor analysis, and a forecast for the landscape's future based on comprehensive market and technical analysis. The study further highlights the market scope, covering aspects such as market dynamics, size and share analysis, segment analysis, and the competitive landscape. All data collected by AMR has been validated by industry experts and sourced from highly credible references.

Market dynamics

The market is witnessing transformation due to issues regarding the disposal of scrap tires, initiatives for encouraging tire recycling, and the increase in several automobiles. However, strict government regulations concerning the storage of scrap tires restrain the industry's growth to some extent. Nevertheless, a surge in the usage of scrap tires in new products is anticipated to open new avenues for the landscape in the upcoming years.

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Research methodology

The tire recycling market was analyzed using a thorough methodology incorporating extensive primary and secondary research. Primary research offered a comprehensive perspective on the product and service landscape, focusing on a detailed examination of various market drivers. Secondary research involved gathering information from diverse sources, including press releases, government websites, and professional journals to gain deeper industry insights. This approach enabled a clear and detailed understanding of the industry.

Prominent trends

Technological advancements are enhancing the efficiency and cost-effectiveness of tire recycling. Innovations such as high-capacity shredders with advanced separation and sorting capabilities yield more uniform and cleaner recycled materials. Additionally, research into alternative recycling methods, like cryogenic grinding, which decomposes tires at extremely low temperatures, is opening new opportunities.

On the other hand, environmentally friendly recycling technologies are experiencing a surge in demand due to heightened regulations and growing environmental concerns. Pyrolysis and devulcanization are becoming popular as they offer more sustainable and efficient methods for recovering valuable materials like rubber and carbon black from used tires.

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Competitive scenario

The report provides a detailed analysis of the competitive landscape in the market. It includes both qualitative and quantitative evaluations of market vendors, helping clients understand the overall business environment and the specific strengths and weaknesses of key players. The qualitative assessment categorizes these players as dominant, leading, or expanding, based on their alliances. The strategies involve forming agreements, strategic alliances, mergers and acquisitions, geographic expansion, and introduction of new products or services. The leading entities covered in the report are:

Green Distillation Technologies Corporation LTD.
reRubber, LLC.
Contec S.A.
Tyre Recycling Solutions SA
Re-Match Holding A/S
Entech Inc.
Champlin Tire Recycling Inc.
Bridgestone Corporation
Emanuel Tire
Liberty Tire Services LLC (Lakin Tire)
Wastefront AS

In conclusion, the AMR report delivers valuable insights into the tire recycling industry, emphasizing recent trends, technological advancements, and regional opportunities. By profiling key industry players and their competitive strategies, the report equips stakeholders and businesses with essential information to make informed decisions and support future growth.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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