London, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Tyre derived fuel (TDF) market continues its modest progress in the light of emerging as a preferred economic, and sustainable fuel alternative across industrial verticals. The market is projected to reach around US$430.3 Mn in revenue toward the end of 2025 as suggested by a new report released by Fairfield Market Research. Around a billion scrap tyres are generated annually, which places a massive pressure on landfills. Tyre derived fuel has been garnering attention worldwide, especially among cement manufacturers, as rubber tyre incineration process poses a serious threat to the environment. Growing interest of municipal authorities toward investing in tyre derived fuel facilities is thus expected to drive the growth of global tyre derived fuel market. The report suggests an increasing number of tyre derived fuel facilities worldwide, in turn boosting the market growth.
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Key Research Insights
- Worldwide demand for tyre derived fuel is likely to account for the revenue worth more than US$430 Mn by 2025 end
- Tyre derived fuel market anticipates gradual progress at a modest 3.3% CAGR
- Cement industry remains major contributor with over 50% of the total TDF consumption
Insights into Segmental Analysis
Cement industry that accounts for more than half the worldwide demand for tyre derived fuel will retain its primacy in global tyre derived fuel market. The report further suggests that the paper and pulp industry will also remain an important segment driving revenue to tyre derived fuel market, followed by the electrical utilities sector. Tyre derived fuel market is expected to realize remarkable profits in the next few years as an increasing number of end-use industries have begun to adopt tyre derived fuel as a preferred combustion fuel that has the superior sustainability quotient in addition to the economic advantage. With more industries accepting their socio-environmental responsibilities, the study expects a steady rise in demand for novel, sustainable, and cost-efficient fuel alternatives such as tyre derived fuel.
Key Report Highlights
- Increasing worldwide effort toward effective, and efficient scrap tyre management will strengthen the case for tyre derived fuel market
- The key benefits like reduced fuel costs, and drastically improved combustion efficiency and emission keep the demand afloat
- Key companies emphasize enhancing their used tyre recycling capabilities for a competitive advantage
Insights into Regional Analysis
The report highlights multiple untapped opportunities across Asia Pacific as the region conventionally experiences disposal of tyres nearing the end of their life in form of incineration, or landfilling. As this typically results in a massive environmental impact that reflects a poor recovery rate, the scenario promises the creation of multiple untapped opportunities for the participants in tyre derived fuel market. The region is expected to benefit from the strong presence of some of the globally leading automobile and ancillary companies. On the other side, developed regional markets reflect a promising situation as well. In North America, and Europe, cement industry will continue to play out as the preeminent demand generator for shredded tyres. Both the regions, with rapidly expanding electric vehicle markets, anticipate a sustained flow of scrap tyres over the next few years. The US market is especially poised to benefit from the relentless efforts of the Tire Manufacturers Association toward the optimization of scrap tire value.
Key Players in Global Tyre Derived Fuel Market
Reliable Tire Disposal, Ragn-Sells Group, Liberty Tire Recycling LLC, Resourceco Pty Ltd., Renelux Cyprus Ltd., and Tire Disposal & Recycling Inc., L & S Tire Company, Front Range Tire Recycle, Inc., Scandinavian Enviro Systems AB, Probio Energy International, ETR Group, and Emanuel Tire, LLC. are some of the prominent players profiled in the report.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 - 2025 | |
| Market Size in 2019 | US$365.1 Mn | |
| Estimated Market Size in 2025 | US$430.3 Mn | |
| CAGR | 3.3 % | |
| Key Players | Reliable Tire Disposal, Ragn-Sells Group, Liberty Tire Recycling LLC, Resourceco Pty Ltd., Renelux Cyprus Ltd., and Tire Disposal & Recycling Inc., L & S Tire Company, Front Range Tire Recycle, Inc., Scandinavian Enviro Systems AB, Probio Energy International, ETR Group, and Emanuel Tire, LLC. | |
Market Segmentation
Scrap Tyre Type Coverage
- Chipped/Shredded Tyre
- Whole Tyre
End-user Coverage
- Cement Plant
- Pulp & Paper Plant
- Utility Boiler
- Industrial Boiler, STE Plant, and Lime Kilns
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Liberty Tyre Recycling
- ResourceCo Pty Ltd.
- Ragn-Sells Group
- L & S Tyre Company
- Reliable Tyre Disposal
- Emanuel Tyre, LLC
- Scandinavian Enviro Systems AB
- Renelux Group
- Tyre Disposal & Recycling
- FRONT RANGE TIRE RECYCLING
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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