Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "Global Tire-Derived Fuel Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The tire-derived fuel market is poised for significant growth, with a projected increase of USD 72.57 million during the period from 2022 to 2027, at an accelerating Compound Annual Growth Rate (CAGR) of 3.34% throughout the forecast period.
The comprehensive report on the tire-derived fuel market offers a holistic analysis, encompassing market size and forecasts, current trends, growth drivers, challenges, and vendor analysis, featuring approximately 25 vendors.
Key Market Drivers
The growth of the tire-derived fuel market is driven by several key factors:
- Growing Automotive Fleets: An increase in automotive fleets contributes to higher tire disposal rates, thus driving the demand for tire-derived fuel.
- Benefits of Tire-Derived Fuel: Tire-derived fuel offers advantages over conventional fuels, making it an attractive option for various industries.
- Regulatory Mandates: Regulatory mandates and environmental concerns are pushing industries to seek cleaner and more sustainable fuel alternatives, further propelling market growth.
Market Segmentation
The tire-derived fuel market is segmented as follows:
By Type:
- Shredded Tire
- Whole Tire
By End-user:
- Cement Kilns
- Pulp and Paper Mills
- Utility and Industrial Boilers
By Geography:
- APAC (Asia-Pacific)
- Europe
- North America
- South America
- Middle East and Africa
Emerging Market Trends
The report identifies several emerging market trends, including:
- Advances in Tire Recycling Technologies: Technological advancements in tire recycling are expected to fuel the tire-derived fuel market's growth in the coming years.
- Increase in Demand for EVs and HEVs: The growing demand for Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) may contribute to the tire-derived fuel market, as tire disposal rates could rise with the increase in automotive battery production.
- Challenges to Increase Investments in the Coal Industry: Challenges related to investments in the coal industry may drive industries to explore alternative fuel sources, including tire-derived fuel.
Key Companies Mentioned
The report provides vendor analysis and mentions approximately 25 companies operating in the tire-derived fuel market, including:
- Babcock and Wilcox Enterprises Inc.
- Beta Analytic Inc.
- CH2E
- Emanuel Tire LLC
- Front Range Tire Recycle Inc.
- George K. Moss Co. Inc.
- Lakin Tire
- Liberty Tire Recycling LLC
- MS Tire Recycling LLC
- Ragn-Sells Group
- Reliable Tire Disposal
- Renelux Cyprus Ltd.
- ResourceCo Pty Ltd.
- Scandinavian Enviro Systems AB
- Tire Disposal and Recycling Inc.
- Tire Stewardship Manitoba
- Tyrec Ltd.
- Weibold
- West Coast Rubber Recycling Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xbme8j
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