Tire Recycling Market Projected to Reach USD 8.21 Billion by 2032 | Rising Environmental Concerns and Circular Economy Initiatives Fueling Market Expansion
The tire recycling market is witnessing substantial growth, driven by the increasing emphasis on sustainable waste management practices and the rising adoption of circular economy principles.
Austin, March 13, 2025 (GLOBE NEWSWIRE) — The tire recycling market is projected to reach a valuation of USD 8.21 billion by 2032, expanding at a compound annual growth rate (CAGR) of 3.55% from 2024 to 2032. Tire recycling is the process of recapturing the useful properties of tires and is an important factor in reducing landfills, conserving scarce resources, and minimizing the environmental impact of tires that have reached the end of their useful life. It turns discarded tires into useful materials like crumb rubber, rubberized asphalt, and tire-derived fuel (TDF), which are more and more commonly applied in various sectors such as construction, automotive, and manufacturing.
Stringent government regulations to minimize tire waste and establish sustainable practices for disposing of scrap tires contribute to the market’s growth. As a result, newer technologies, for instance, hydropyrolysis and devulcanization, are nuclear-powered in a more efficient and price-competitive manner. Consumer inclination towards rubber-modified asphalt for road construction owing to its increasing durability and reduced maintenance spending is also propelling the usage of recycled tire materials. Additionally, the increasing urge for eco-friendly manufacturing and the adoption of sustainable materials by the automotive industry is likely to drive market growth during the forecast period.
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Key Players:
- Liberty Tire Recycling (Tire-Derived Fuel, Rubber Mulch)
- GENAN HOLDING A/S (Recycled Rubber Granulate, Rubber Powder)
- ResourceCo (Tyre-Derived Fuel, Crumb Rubber)
- Lehigh Technologies (PolyDyne Micronized Rubber Powder, MicroDyne Micronized Rubber Powder)
- Balkrishna Industries Limited (BKT) (Off-Highway Tires, Agricultural Tires)
- Nokian Tyres plc (Hakkapeliitta Winter Tires, Nokian eLine)
- Lakin Tire (Tire Collection Services, Recycled Tire Products)
- Eldan Recycling A/S (Tire Shredders, Granulation Plants)
- RubberMulch (Landscape Mulch, Playground Mulch)
- Tire Disposal & Recycling, Inc. (Tire-Derived Aggregate, Tire-Derived Fuel)
- Klean Industries (Recovered Carbon Black, Pyrolysis Oil)
- Emanuel Tire LLC (Tire-Derived Fuel, Recycled Rubber Products)
- West Coast Rubber Recycling (Crumb Rubber, Rubber Bark)
- Renelux Cyprus Ltd (Tire-Derived Fuel, Recycled Rubber Granules)
- Tire Recycling Atlantic Canada Corporation (TRACC) (Crumb Rubber, Tire-Derived Aggregate)
- Liberty Tire Recycling Canada Ltd. (Rubber Mulch, Tire-Derived Fuel)
- Tinna Rubber and Infrastructure Ltd. (Crumb Rubber Modifier, Reclaimed Rubber)
- Rebound Rubber Recycling (Crumb Rubber, Rubber Mulch)
- Green Distillation Technologies Corporation (Recovered Carbon, Recovered Oil)
- Tyrecycle (Crumb Rubber, Tire-Derived Fuel)
Tire Recycling Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 6.00 Billion |
| Market Size by 2032 | USD 8.21 Billion |
| CAGR | CAGR of 3.55% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Rubber, Tire-derived Fuel, Tire-derived Aggregate, Carbon Black, Steel Wires, Others) • By Application (Rubber, Tire-derived Fuel, Tire-derived Aggregate, Carbon Black, Steel Wires, Others) |
| Key Drivers | • Rising Demand for recycled rubber and tire-derived products which drives market growth. |
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Which Region Leads the Tire Recycling Market Growth?
In 2023, Asia Pacific accounted for a dominant share of the market, around 44%. Regional sustainable waste management is being fortified through highly ambitious government policies amidst rapid industrialization. Countries such as China, India, Japan, and South Korea are the major producers of ELT on behalf of the high automotive sector and changeable transport networks. Sustainable infrastructure project investments by several companies, along with government sector regulations related to tire recycling, coupled with its demand from industries such as automotive and manufacturing high latest consumption and creation of recycled tire products are some major drivers supplementing the demand trajectory of recycled tire products. Factors like marginal cost economics of recycling processes, and the availability of cheap labor have also encouraged the establishment of large-scale recycling plants in the region. The business will be further augmented in its growth attributed to the growing trend for reproductive circular economy practices etc. environmental sustainability, increased consumption of rubberized asphalt, recycling carbon black, and tire-derived fuel (TDF) in the Asia Pacific region market.
Market Segmentation
By Product
In 2023, rubber contributed to the largest market share of 38%. This aspect is attributable to its extensive application in numerous industries including automotive, building & construction, sports, manufacturing, and tire industry. The leading markets of recycled rubber are crumbs rubber, rubberized asphalt, flooring and playground products, and molded rubber products from end-of-life tires (ELTs). Reinforced concrete is one of the most common building materials in the world, as it is durable, affordable, and strong against surface damage, suited for a vast array of infrastructure and industrial applications. Furthermore, increasing sustainable practices and circular economy initiatives have also increased the utilization rate of recycled rubber, which is a potential sustainable alternative for rubber. Moreover, the extensive governmental measures like incentives to provide tire recycling, and the increasing demand for sustainable raw materials in the automotive industry and the construction sector also make rubber dominate.
By Application
The highest market share was held by Building & Construction, accounting for 42% in 2023. Recycling of used tire materials is widely adopted in infrastructure projects Recycled rubber is used in products such as rubberized asphalt, roofing materials, insulation, flooring, and soundproofing applications as it is strong, flexible, and inexpensive. Rising government initiatives concerning environmental protection are boosting sustainable construction and green infrastructure and is likely to grow pump-up for tire-derived products in the upcoming years. In addition, rubberized asphalt enhances road durability, lessens maintenance expenditure and pedestrian skid resistance, and is a common method in the construction of pavements and roads. Combined with the growing high adoption level of green building initiatives and strong environmental regulations anticipated create opportunities for recycled tire products in the construction industry.
Recent Developments
- In 2023, Liberty Tire Recycling announced an expansion of its processing capacity in North America to meet the growing demand for recycled rubber in infrastructure projects.
- In 2023, Scandinavian Enviro Systems partnered with major tire manufacturers to enhance pyrolysis recycling and produce high-quality recovered carbon black for sustainable tire production.
- In 2023, Bridgestone launched a pilot initiative utilizing devulcanization technology to integrate more recycled rubber into new tire manufacturing, aligning with its sustainability goals.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Tire Recycling Market Segmentation, By Product
8. Tire Recycling Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practice
12. Conclusion
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