North America Tires Recycling Market Size By Type Of Recycling, By Application, By Process, By Geographic Scope And Forecast

North America Tires Recycling Market Size And Forecast

North America Tires Recycling Market size was valued at USD 8.07 USD Million in 2023 and is projected to reach USD 12.16 USD Million by 2031, growing at a CAGR of 5.25% during the forecast period 2024-2031.

 North America Tires Recycling Market Drivers

The market drivers for the North America Tires Recycling Market can be influenced by various factors. These may include

• Environmental RegulationsThe demand for recycled tyres is being driven by strict government laws and regulations that are designed to reduce the impact on the environment. Tyre recycling and appropriate disposal are encouraged by these regulations in order to reduce environmental pollution and landfilling.
• Growing Tyre WasteAs the number of cars on the road rises, so does the amount of waste tyres. This has resulted in a significant demand for effective recycling solutions to handle and dispose of the garbage.
• Technological AdvancementsThe efficiency and profitability of tyre recycling operations are being improved by technological innovations in tyre recycling, such as enhanced shredding, pyrolysis, and devulcanization processes.
• Growing Need for Recycled MaterialsThe market is being driven by the growing usage of recycled rubber in a variety of industries, including consumer goods, manufacturing, and construction. Playground surfaces, rubberized asphalt, and moulded rubber goods are among the things made from recycled tyres.
• Economic GainsBy producing jobs and making money from the sale of recycled materials, tyre recycling can have a positive economic impact. It also lowers the price of using landfills and disposing of tyres.
• Public Awareness and Corporate Social Responsibility As businesses and customers become more conscious of the advantages recycling has for the environment, they are being compelled to include tyre recycling in their corporate social responsibility programmes.
• Government and Private Sector Initiatives The market for tyre recycling is expanding as a result of government initiatives and private sector investments that support recycling and environmentally friendly waste management techniques.

 North America Tires Recycling Market Restraints

Several factors can act as restraints or challenges for the North America Tires Recycling Market. These may include

• High Initial expenditure To establish a tyre recycling factory, a substantial capital expenditure is needed to buy state-of-the-art machinery and set up the necessary infrastructure. This large upfront investment may discourage smaller businesses and new competitors.
• Regulatory Obstacles Tight environmental laws apply to the tyre recycling sector. Market expansion may be hampered by the time and money required to comply with these rules.
• Costs of Collection and Transportation It can be costly and logistically difficult to collect and transport worn tyres to recycling facilities in an efficient manner. The profitability of tyre recycling businesses may be impacted by this.
• Market fluctuations The dynamics of supply and demand in the market might have an impact on the price of recycled rubber and other byproducts. Tyre recycling companies may see a decline in revenue as a result of this instability.
• Technological Restrictions Despite developments, efficient and economical tyre recycling procedures are still subject to technological constraints. The process of creating new technologies to increase recycling effectiveness can be costly and time-consuming.
• Competition from Alternative Disposal Methods Recycling may not always be more affordable than other disposal techniques, such as incineration or landfilling, particularly in areas with laxer environmental laws. The market for tyre recycling may grow more slowly as a result of this rivalry.
• Public Awareness and Participation Insufficient public awareness and involvement in tyre recycling initiatives may result in a scarcity of used tyres available for recycling. To meet this challenge, public education and engagement programmes that work must be implemented.

 North America Tires Recycling Market Segmentation Analysis

The North America Tires Recycling Market is Segmented on the basis of Type of Recycling, Application, Process and Geography.

North America Tires Recycling Market, By Type of Recycling

• Mechanical RecyclingShredding and grinding tires into smaller pieces.
• Thermal RecyclingUsing pyrolysis or gasification to break down tires into usable byproducts.
• Chemical RecyclingBreaking down tire materials into chemicals through processes like depolymerization.

North America Tires Recycling Market, By Application

• Rubber ProductsRecycled rubber used in new tires, rubber mats, and other rubber goods.
• Construction MaterialsRecycled tire materials used in asphalt, road construction, and civil engineering applications.
• FuelTires processed for use as Tire-Derived Fuel (TDF) in cement kilns, power plants, and industrial boilers.
• AgricultureRecycled tires used in agricultural applications such as silage covers and other farm products.

North America Tires Recycling Market, By Process

• ShreddingThe initial step in recycling where tires are shredded into smaller pieces.
• GranulationFurther processing of shredded tires into granules or powders.
• PyrolysisA thermal process that decomposes tires into oil, gas, and char.
• DevulcanizationA chemical process that breaks down the sulfur bonds in rubber to recycle it back into usable rubber material.

North America Tires Recycling Market, By Geography

• United States
• Canada
• Mexico

Key Players

The major players in the North America Tires Recycling Market are

• Liberty Tire Recycling Inc.
• Genan, Entech Inc.
• Valley Tire Recycling
• American Tire Recycling Group, LLC
• Ergon Asphalt & Emulsion, Inc.
• Asphalt Plus
• Tarmac
• LAFARGE
• Phoenix Industries LLC

Report Scope

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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