Tire Recycling Downstream Products Market
Tire Recycling Downstream Products Market (Recycling Technique: Pyrolysis and Shredding; Product: Tire-derived Fuel, Tire-derived Aggregate, Rubber Mulch, Steel, Rubber Powder, and Others; and End Use: Cement Manufacturing, Pulp & Paper Mills, Electric Utility Boiler, Construction & Infrastructure, Sports Complexes & Playgrounds, Tire & Rubber, and Others) - U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Safe Collection, Timely Pickup Help Companies Stay Afloat During COVID-19 Situation
Minimal recycling impact and few trading disruptions are anticipated to affect the U.S. tire recycling downstream products market due to the COVID-19 pandemic. Companies such as Liberty Tire Recycling, LLC are increasing efforts to assure safe collection services and timely pickups as per customer demands. They are implementing CDC and WHO guidelines for facility cleanliness and hygiene.
Companies in the U.S. tire recycling downstream products market are continuously monitoring the coronavirus situation and are adapting to the market’s changing conditions with swift decision-making. Unusual shortfalls in supply chains are likely to stay low for stakeholders in the U.S. Manufacturers are focusing on critical mission projects such as for cement manufacturing, electric utility boilers, and steel production to stay afloat.
Request a sample to get extensive insights into the Tire Recycling Downstream Products Market
Collaboration with State Partners Eliminates Large Scrap Tire Stockpiles
Currently, scrap tire generation is outpacing end market development. As such, the Washington-based U.S. Tire Manufacturers Association (USTMA) released its 2019 Scrap Tire Management Report in mid-October stating that recycling of scrap tires has reached a record low from 2013 when tire recycling was at its peak. This downward trend is hampering the U.S. tire recycling downstream products market, which explains a sluggish CAGR of 2.5% of the market during the forecast period.
Companies in the U.S. tire recycling downstream products market are working with different groups to eliminate stockpiles of scrap tires. They are encouraging state partners to use funds that are collected for scrap tire management to bolster end-use product development.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Investments to Expand Production Capacities Create Business Streams
The U.S. tire recycling downstream products market is estimated to cross the revenue of US$ 1.1 Bn by 2031. BASF SE - a Germany-based multinational chemical company has announced to acquire the ownership stake of Pyrum - a Germany-based firm developing pyrolysis technology for converting waste tires into oil for $18 Mn. Companies in the U.S. tire recycling downstream products market are taking cues from such companies to invest toward the expansion of production capacities.
Manufacturers in the U.S. tire recycling downstream products market are boosting their output capabilities to produce tire-pyrolysis oil, which is used to replace petroleum feedstock in petrochemical crackers. Since waste tire rubber (WTR) management has become a serious problem, manufacturers are using this rubber in polymer matrices and composite materials for industrial use.
WTR Establishes Environment-friendly Low Cost Modification of Thermoset Polymers
Waste tire rubber is being used as a filler for polymer composites and helps to reduce materials costs, whilst suitably modifying WTR to enhance the performance of plastics and rubbers. WTR is being highly publicized as an environment-friendly and low cost modifier of thermoset polymers. Manufacturers in the U.S. tire recycling downstream products market are boosting their R&D muscle to explore possible routes to tailor the performance properties of waste rubber tire systems.
Finding a feasible and cost-effective method for recycling of waste tire rubber is of paramount importance. Hence, manufacturers in the U.S. tire recycling downstream products market are combining WTR with a polymeric material that can flow under certain conditions so that it can be shaped into different products.
Certified Rubber Mulch Products Offer Cost Efficiency for Playground Development
Companies in the U.S. tire recycling downstream products market are boosting their production capabilities in playground, landscape, and training course rubber mulch. GroundSmart - a tire recycling company in North America is leveraging revenue opportunities by supplying rubber mulch products for commercial, residential, and military segments. Manufacturers are taking reference from such companies to provide certified rubber mulch products that offer increased playground fall height protection as compared to grass, sand, wood mulch, and the likes.
Rubber mulch is being publicized by manufacturers in the U.S. tire recycling downstream products market for its cost efficiency as compared to landscape wood mulch.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Tire Recycling Downstream Products Market
The collection of scrap passenger light truck tires is estimated to fall due to the onset of the COVID-19 pandemic. This will help companies in the U.S. tire recycling downstream products market to focus on innovating in new material recycling techniques rather than focusing on eliminating large stockpiles. Cryogenic grinding is emerging as one of the innovative ways to recycle scrap tires, which includes the absence of thermal or oxidative destruction of powder, fire, and explosion safety. However, this method requires high consumption of refrigerants in order to obtain rubber powder from scrap tires, with a particle size in millimeters. Hence, companies should capitalize on the advantages of cryogenic grinding, which facilitates efficient separation of metal and textiles from crumb rubber after grinding.
U.S. Tire Recycling Downstream Products Market: Overview
- According to Transparency Market Research’s latest research report on the tire recycling downstream products market in the U.S. for the forecast period of 2021 to 2031, increase in usage of tire recycling downstream products in the construction industry is expected to boost the tire recycling downstream products market in the U.S. during the forecast period
- Rise in disposable income of the people in the U.S. has been fueling the demand for automotive vehicles in the country over the past few years. Demand for electric vehicles is also increasing in the U.S. This is estimated to boost the volume of scrap tires in the near future. Thus, companies are focusing on developing more efficient methods to recycle tires in order to produce tire recycling downstream products.
- In terms of revenue, the tire recycling downstream products market in the U.S. is projected to cross US$ 1.1 Bn by 2031, expanding at a CAGR of 2.5% during the forecast period
Increase in Volume of Scrap Tires: Key Driver of U.S. Tire Recycling Downstream Products Market
- Scrap tires are being generated and accumulated in large volumes in the U.S. since the past few years. This is increasingly posing a threat to the environment. A tire’s physical structure, durability, and heat-retaining characteristics make them a potential threat to human health and the environment.
- Tires are prone to heat retention. In stockpiles, tires can ignite fires that are difficult to extinguish, and can burn for months, generating unhealthy smoke and toxic oils. Illegal tire dumping pollutes ravines, woods, deserts, and empty lots. Consequently, most states in the U.S. have passed regulations on scrap tires requiring proper management.
- According to the U.S. Scrap Tire Manufacturers Association, total scrap tires generated stood at around 4.46 million tons in 2019 compared to 4.18 million tons in 2017
- Thus, increase in volume of scrap tires and rise in regulations on scrap tire management are likely to propel the tire recycling downstream products market in the U.S. in the near future
Rise in Demand for Tire Recycling Downstream Products in End-use Industries to Augment U.S. Tire Recycling Downstream Products Market
- Demand for tire recycling downstream products has been rising in various end-use industries in the U.S. Currently, cement manufacturing companies are using tire recycling downstream products such as tire-derived fuel (TDF) to supplement their primary fuel for firing cement kilns. The heating value of an average-sized passenger tire is approximately 13,000 British Thermal Units (BTUs) to 15,000 British Thermal Units (BTUs) per pound, which is the same as that of coal. Tire fuel is primarily used to save fuel costs. High temperatures and long fuel residence time in the kiln enable complete combustion of tires. There is no smoke, odor, or visible emissions from tires when used as a fuel for cement kilns.
- Demand for tire recycling downstream products such as rubber modified asphalt and rubber mulch is also rising in the U.S., as these offer several benefits in road construction such as reduction in noise, cracking, and rutting in comparison to other materials. These roads also last longer and tend to produce less tire wear as compared to other materials.
- According to the U.S. EPA and some testing facilities, tire recycling downstream products (including tire-derived fuel) produce less emissions compared to other conventional fuels. At well-controlled facilities, emissions would be considerably less when TDF is used to replace some of the typical fuels. Consequently, the EPA has identified that TDF is a viable alternative for fossil fuels. Hence, facilities such as utility boilers, cement kilns, boilers, and pulp & paper mills use TDF as a supplementary fuel in their energy-intensive processes.
- Thus, these benefits of tire-based products are likely to drive the tire recycling downstream products market in the U.S. in the near future
U.S. Tire Recycling Downstream Products Market: Competition Landscape
- The tire recycling downstream products market in the U.S. was fragmented in 2020. Large number of small players operate in the tire recycling downstream products market in the U.S. Detailed profiles of manufacturers of tire recycling downstream products have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the tire recycling downstream products market in the U.S. are
- LIBERTY TIRE RECYCLING
- L & S Tire Company
- Renelux Group
- Emanuel Tire, LLC
- Tire Disposal & Recycling
- Lehigh Technologies, Inc.
- GENAN Inc.
- Georgia Tire Recovery
- Bridgestone Americas, Inc.
U.S. Tire Recycling Downstream Products Market: Key Development
- Key providers of tire recycling downstream products such as Bridgestone Americas, Inc., LIBERTY TIRE RECYCLING, Genan Inc., L & S Tire Company, and Emanuel Tire, LLC are focusing on geographical expansion to capture untapped markets. Major developments in the tire recycling downstream products market in the U.S. are highlighted below:
- On March 16, 2020, LIBERTY TIRE RECYCLING acquired Lakin Tire (Lakin) with support from its majority equity sponsor The Carlyle Group. Lakin is a well-established and technologically advanced tire removal and recycling company based in the U.S. The acquisition is estimated to enhance LIBERTY TIRE RECYCLING’s ability to provide high quality, comprehensive tire collection services, and sustainable, eco-friendly recycled products to new and existing customers.
- In the tire recycling downstream products market in the U.S. report, we have discussed individual strategies, followed by company profiles of manufacturers of tire recycling downstream products. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the tire recycling downstream products market in the U.S.
U.S. Tire Recycling Downstream Products Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the tire recycling downstream products market in the U.S. to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the tire recycling downstream products market in the U.S. in order to identify opportunities for stakeholders. The report also provides insightful information about how the tire recycling downstream products market in the U.S. would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the tire recycling downstream products market in the U.S., which aids companies operating in the market in making strategic decisions. TMR’s study also elaborates on the significant changes that are anticipated to configure growth of the tire recycling downstream products market in the U.S. during the forecast period. It also includes key indicator assessment that highlights growth prospects for the tire recycling downstream products market in the U.S. and estimates statistics related to the market in terms of value (US$ Mn) and volume (kilo tons).
This study covers detailed segmentation of the tire recycling downstream products market in the U.S., along with key information and competition outlook. The report mentions company profiles of players that are currently dominating the tire recycling downstream products market in the U.S., wherein various developments, expansions, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in TMR’s Report on U.S. Tire Recycling Downstream Products Market
The report provides detailed information about the tire recycling downstream products market in the U.S. on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the U.S. market and are looking for innovative methods to create a unique benchmark in the U.S. market so as to help them design successful strategies and make target-driven decisions.
- Which recycling technique segment of the tire recycling downstream products market in the U.S. would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenue in the tire recycling downstream products market in the U.S.?
- What would be the Y-o-Y growth trend of the tire recycling downstream products market in the U.S. between 2020 and 2030?
- What are the winning imperatives of leading players operating in the tire recycling downstream products market in the U.S.?
Research Methodology – U.S. Tire Recycling Downstream Products Market
The research methodology adopted by analysts for compiling the report on the tire recycling downstream products market in the U.S. is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecast of the tire recycling downstream products market in the U.S.
During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the tire recycling downstream products market in the U.S.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the tire recycling downstream products market in the U.S.
U.S. Tire Recycling Downstream Products Market – Segmentation
TMR’s research study assesses the tire recycling downstream products market in the U.S. based on recycling technique, product, and end use. The report presents extensive market dynamics and progressive trends associated with different segments and how they are influencing growth prospects of the tire recycling downstream products market in the U.S.