The Tire-Derived Fuel Market size is projected to grow from $6.7 billion in 2021 to $8.3 billion by 2028, at a CAGR of 3%. The global tire-derived fuel market has been segmented on the basis of type (shredded tire and whole tire), application (pulp and paper mills, cement manufacturing, utility boiler), and region (North America, Latin America, Europe, Asia Pacific& the Middle East& Africa). North American countries such as the USA are expected to witness higher demand for tires than other regions globally owing to the growing automobile population coupled with stringent emission norms coming into effect in 2021.
A tire-derived fuel is a byproduct of converting tires to energy. Tires are made out of a mix of oil, natural gas, and coal that can be used as an alternative for fossil fuels such as coal or petroleum coke. Tire-derived fuel (or TDF) is a combustible material produced from the pyrolysis of rubber. It can be manufactured in two ways: shredding or grinding whole tires to produce tire-derived particles, which are then processed into pellets; and processing cut up tires into fragments smaller than one inch by cutting them with a saw, hammering them to break up the particles, or a combination of both. Tire-derived fuel is used for diverse applications including generating electricity and heat in cement manufacturing plants and utility boilers.
On the basis of Types, the market is segmented into shredded tires and whole tires.
A shredded tire is a type of tire-derived fuel that has been chopped up into small pieces to make it easier and cheaper for companies to transport. Shredded tires are typically ground down into pellets using industrial shredders or cutting machines before they’re transported by trucks, railcars, ships, barges, and even planes.
A whole tire is a type of tire-derived fuel that has not been processed and can have an outer layer still attached. Whole tires are commonly used in countries with hotter climates, like India or Brazil.
On the basis of Application, the market is segmented into pulp and paper mills, cement manufacturing, utility boilers.
Tire-derived fuel is widely used in pulp and paper mills to generate heat energy. This is because this fuel produces fewer air pollutants than coal and it has a lower carbon footprint and reduces the emission levels.
Tire-derived fuel is also widely used in cement manufacturing. This fuel can be a potential substitute for coal as it has lower ash content, and produces less toxic gas emissions than coal.
In utility boilers, tire-derived fuel is used for the production of steam. This type of fuel provides a cleaner option to coal and can be an alternative source for power generation in countries like India, which have large reserves of tires.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
North America is expected to be the largest market for tire-derived fuel in terms of revenue contribution during the forecast period owing to rapid industrialization. Europe would also consume high quantities of this fuel type as it has been a major producer of oil-based fuels. Latin America has been traditionally using coal as fuel in power generation, but the region could adopt this alternative resource for its growing demand. The Asia Pacific and Middle East & Africa are expected to witness rapid growth during the forecast period owing to improved industrialization levels.
The growth of the tire-derived fuel market is driven by-
*Rising awareness and shrinking availability of fossil fuels, in addition to a stringent government policy for the reduction in greenhouse gas emissions.
*An increase in demand from developing economies such as India and China is driving this market's growth.
*However, the lack of infrastructure needed to handle shredded tires can be a limiting factor to this market's growth.
*Developed economies such as Japan and the USA are also contributing to this market's growth, with stringent government policies to reduce greenhouse gas emissions driving their demand for TDF in pulp & paper mills.
Up Market Research published a new report titled “Tire derived Fuel Market research report which is segmented by Types (Shredded Tire, Whole Tire), By Applications (Pulp and Paper Mills, Cement Manufacturing, Utility Boiler), By Players/Companies Ragn-Sells Group, Liberty Tire Recycling, ResourceCo, Lakin Tire West, Renelux Cyprus, Emanuel Tire, Globarket Tire Recycling, Tire Disposal & Recycling, West Coast Rubber Recycling, Scandinavian Enviro System, Front Range Tire Recycle, L & S Tire Company, ETR Group, Reliable Tire Disposal”.
|Report Attributes||Report Details|
|Report Title||Tire derived Fuel Market Research Report|
|By Type||Shredded Tire, Whole Tire|
|By Application||Pulp and Paper Mills, Cement Manufacturing, Utility Boiler|
|By Companies||Ragn-Sells Group, Liberty Tire Recycling, ResourceCo, Lakin Tire West, Renelux Cyprus, Emanuel Tire, Globarket Tire Recycling, Tire Disposal & Recycling, West Coast Rubber Recycling, Scandinavian Enviro System, Front Range Tire Recycle, L & S Tire Company, ETR Group, Reliable Tire Disposal|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||226|
|Number of Tables & Figures||159|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Shredded Tire, Whole Tire and By Application Pulp and Paper Mills, Cement Manufacturing, Utility Boiler.
Some of the companies that are profiled in this report are:
Tire derived Fuel Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Tire derived Fuel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Tire derived Fuel Market Report:
Some other reports from this category!