# Tire Recycling Downstream Products Market to Observe Strong Development by 2019-2027
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-11-25
Category: Research Reports
Category URL: https://financedigest.com/category/research-reports
Meta Title: Tire Recycling Downstream Products Market: Key Highlights
Meta Description: Explore the latest trends and opportunities in the global tire recycling downstream products market. Learn about the key drivers and regional insights from
URL: https://financedigest.com/tire-recycling-downstream-products-market-to-observe-strong-development-by-2019-2027html

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**Tire Recycling Downstream Products Market: Key Highlights**

- The global [tire recycling downstream products market](https://www.transparencymarketresearch.com/tire-recycling-downstream-products-market.html) was valued at ~ **US$ 4 Bn** in **2018**, and is anticipated to expand at a CAGR of ~ **3%** during the forecast period.
- In terms of recycling technique, the shredding segment accounted for a major share of the global tire recycling downstream products market in **2018**.
- Based on product, the rubber powder segment held a significant share of the global [tire recycling downstream products market](https://www.financedigest.com/the-bicycle-tire-market-to-witness-an-exhilarating-cagr-of-7-7-between-2021-and-2031.html "The Bicycle Tire Market to witness an exhilarating CAGR of 7.7% between 2021 and 2031") in **2018**.
- In terms of end use, the cement manufacturing segment constituted a key share of the [global tire recycling downstream products](https://www.financedigest.com/toyotas-nov-global-vehicle-production-rises-1-5-to-record-833104.html "Toyota’s Nov global vehicle production rises 1.5% to record 833,104") market in **2018**. Currently, cement manufacturing companies use tire-derived fuel to supplement their primary fuel for firing cement kilns. The heating value of an average-sized passenger tire is approximately 13,000 to 15,000 British Thermal Units (BTUs) per pound, which is the same as that of coal. The primary aim of using tire fuel is to save on fuel costs.
- Asia Pacific is estimated to offer lucrative opportunities for the tire recycling downstream products market in the [next few years](https://www.financedigest.com/start-up-etioca-eyes-nasdaq-listing-next-year-as-it-unveils-electric-taxi.html "Start-up Etioca eyes Nasdaq listing next year as it unveils electric taxi"), owing to large-scale scrap tire production in China, Japan, and India.

**Key Drivers of Tire** [Recycling Downstream Products Market](https://www.financedigest.com/corrugated-boxes-market-to-surpass-us-128-3-bn-as-recycled-boxes-demand-increases-by-4-7-fmi.html "Corrugated Boxes Market to Surpass US$ 128.3 Bn as Recycled Boxes Demand Increases by  4.7%: FMI")

- The poor quality of roads has become a major concern for the public sector. The demand for high-performance road construction materials has been increasing consistently. The cost of raw materials for asphalt and asphalt alteration has increased significantly, creating barriers for cost-effective road construction. This has boosted the need for alternative substitutes.
- Currently, rubber powder derived from scrap tires to maximize the quality of asphalt is an alternative cost-effective substitute for asphalt. The [recycled material](https://www.financedigest.com/stellantis-aims-to-boost-recycled-material-content-in-vehicles.html "Stellantis aims to boost recycled material content in vehicles") is blended into asphalt used in road construction to increase the quality of the mixture and extend the service life of the road.
- Asphalt mixture containing rubber has been used in several road projects in the U.S. and Europe. [Rise in the demand for tire recycling downstream products](https://www.financedigest.com/oil-rises-on-saudi-oil-production-expectations.html "Oil rises on Saudi oil production expectations") in the construction sector is likely to drive the tire recycling downstream products market.

**Asia Pacific a Prominent Region of Tire Recycling Downstream Products Market**

- Asia Pacific was the key region of the global tire recycling downstream products market in 2018. Increase in regulations regarding scrap tire landfilling is [driving the tire recycling downstream products market](https://www.financedigest.com/innovation-based-discernment-to-drive-the-soybean-by-products-market.html "Innovation-Based Discernment To Drive The Soybean By-products Market") in Asia Pacific.
- Around 11,010 [million tons of new tires were produced in Asia Pacific](https://www.financedigest.com/britains-superdry-sells-asia-pacific-ip-for-50-million.html "Britain’s Superdry sells Asia Pacific IP for million") in 2017; of this, China accounted for a **40%** share, while Japan held a **6%** share. **Bridgestone Corp., Apollo Tyres Ltd, Toyo Tire & Rubber Co. Ltd, MRF Ltd,** and **Yokohama Rubber Company** are the major tire manufacturers present in Asia Pacific. This [creates an opportunity for the tire recycling downstream products](https://www.financedigest.com/4-tips-for-creating-a-calm-workspace-to-boost-productivity.html "4 tips for creating a calm workspace to boost productivity") market.
- North America is expected to contribute significantly to the global tire recycling downstream products [market during the forecast period](https://www.financedigest.com/automotive-gudgeon-pin-market-is-projected-to-observe-a-significant-cagr-of-5-0-by-value-during-the-period-of-2022-and-2027.html "Automotive Gudgeon Pin Market is projected to observe a significant CAGR of 5.0% by value during the period of 2022 and 2027"), due to the growth of paper and cement industries in the region. The U.S. utilized **106 million** scrap tires as tire-derived fuel in **2017.**
- Latin America held the least share of the global tire recycling downstream products market in **2018**.
- Companies in Mexico such as Granutec, Trisol, and HM Energy Mexico are reusing scrap tires to produce waterproof coating, flooring, and a fuel alternative to diesel. This [positively influences the tire recycling downstream products market](https://www.financedigest.com/manufacturing-sector-is-likely-to-influence-titanium-carbide-market-demand-in-positive-manner.html "Manufacturing Sector Is Likely to Influence Titanium Carbide Market Demand in Positive Manner").

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**Global Tire Recycling Downstream Products Market: Key Developments**

- In **April 2019**, GENAN HOLDING A/S acquired NORS subsidiary Biosafe, an operator of the [largest tire recycling plant in Portugal](https://www.financedigest.com/portugal-set-to-start-up-europes-largest-floating-solar-park.html "Portugal set to start up Europe’s largest floating solar park"). After this acquisition, GENAN [HOLDING A/S has six tire recycling plants across the world](https://www.financedigest.com/tennis-williams-retirement-on-hold-after-win-over-world-number-two.html "Tennis-Williams retirement on hold after win over world number two").
- In **July 2018**, the largest resource recovery and Processed Engineered Fuel (PEF) plant in [Australia was opened at Wetherill Park in Sydney](https://www.financedigest.com/freedom-day-sydney-reopens-as-australia-looks-to-live-with-covid-19.html "‘Freedom Day’: Sydney reopens as Australia looks to live with COVID-19"). Operated as a joint venture between ResourceCo and Cleanaway, the [plant is licensed to receive up to 250,000 tons of dry commercial & industrial and mixed construction](https://www.financedigest.com/uk-gives-go-ahead-for-edfs-sizewell-c-nuclear-plant-construction.html "UK gives go-ahead for EDF’s Sizewell C nuclear plant construction") & demolition waste per year, in order to recover metal, clean timber, and inert materials. The rest of the waste is converted into PEF.
- In **July 2018**, Scandinavian Enviro Systems AB together with Industrial [Development and Renovation Organization](https://www.financedigest.com/the-drinkable-peanut-powder-market-gloat-over-organic-development.html "The Drinkable Peanut Powder Market Gloat Over Organic Development") of Iran (IDRO) signed an HoA (Heads of Agreement) with DHF Development, a Germany-based company, in order to facilitate the establishment of more recycling plants in the Middle East.
- In **May 2017**, The Clean Energy Finance Corporation (CEFC) lent US$ 30 Mn to ResourceCo in order to establish an [innovative plant for the production](https://www.financedigest.com/innovative-new-dealcancellation-product-from-easymarkets-to-democratise-trading-like-never-before.html "Innovative new dealCancellation product from easyMarkets to democratise trading like never before") of alternative fuels in New South Wales (NSW), Australia. These [funds would be used to build](https://www.financedigest.com/where-can-you-start-building-your-emergency-funds.html "Where Can You Start Building Your Emergency Funds?") two new plants to transform selected non-recyclable waste streams into solid fuel, known as Processed Engineered Fuel (PEF).
- In **May 2017**, Renelux Cyprus Ltd submitted its first full corporate offer for alternative fuel, i.e. tire-derived fuel, to a major cement manufacturer in India.

**Tire Recycling Downstream Products Market: Competition Landscape**

- The global tire recycling downstream products [market is highly fragmented with the presence of a large number of players](https://www.financedigest.com/tungstic-acid-market-recent-industry-developments-and-growth-strategies-adopted-by-players.html "Tungstic Acid Market: Recent Industry Developments and Growth Strategies Adopted by Players").
- Less capital investment and low R&D expenditure in the tire recycling downstream products [market are anticipated to increase the threat of entry of new players in the market in the near](https://www.financedigest.com/mull-it-over-living-near-the-uks-best-christmas-markets.html "Mull it over: Living near the UK’s best Christmas markets") future.
- [Key players operating in the tire recycling downstream products market](https://www.financedigest.com/embroidery-machinery-market-key-players-and-production-information-analysis-with-forecast-2031.html "Embroidery Machinery Market: Key Players and Production Information Analysis with Forecast 2031") include **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, Tire Disposal & Recycling, Inc., West Coast Rubber Recycling Inc., Lehigh Technologies, Inc., and Front Range Tire Recycle, Inc**.

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