The Tire Recycling Downstream Products Industry plays a vital role in reducing environmental impact by transforming end-of-life tires into valuable products. Tire recycling involves processing used tires into various materials that can be utilized in diverse industries. Downstream products from tire recycling include rubber crumbs, crumb rubber, and powders that find applications in automotive, construction, and sports sectors.
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Growth in
awareness about the environmental benefits of tire recycling, new recycled
products, and industrial applications is expected to drive the global tire
recycling downstream products market during the forecast period. Tire recycling
process entails conversion of discarded or end-of-life tires into useful
industrial materials. Various methods are adopted for tire recycling such as
pyrolysis, cryogenic recycling, and repurposing old tires.
Sustainable
industry practices to reduce carbon impact; rise in focus on new discoveries;
and technological advancements in tire recycling are also augmenting the tire
recycling downstream products market. Players in the global market are
emphasizing on industrial growth through strategic expansion, R&D, organic
and inorganic growth strategies, long-term associations, strategic alliances,
and supply chain agreements.
The global
tire recycling downstream products market, valued at US$ 5.30 billion in 2021,
is projected to grow at a compound annual growth rate (CAGR) of 2.89% from 2022
to 2031. By the end of 2031, the market is expected to reach US$ 7.04 billion,
driven by increasing demand for sustainable solutions and innovations in
recycling technologies.
With
continuous technological advancements in tire recycling processes, the industry
is expected to expand, creating new applications and ensuring eco-friendly
alternatives for the disposal of used tires. This emerging sector holds
significant potential for innovation, economic growth, and environmental protection.
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