Tire Recycling Market to Reach $7.32 Bn, Globally, by 2031 at 3.5% CAGR: Allied Market Research
PORTLAND, Ore., Aug. 10, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Tire Recycling Market by Process (Pyrolysis, Shredding), by Product (Crumbed Rubber, Tire Derived Fuel, Others), by Application (Manufacturing, Construction, Rubber Products, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global tire recycling industry was estimated at $5.12 billion in 2021, and is anticipated to hit $7.32 billion by 2031, registering a CAGR of 3.5% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.
- PORTLAND, Ore., Aug. 10, 2022 /PRNewswire/ --Allied Market Research published a report, titled, 'Tire Recycling Market by Process (Pyrolysis, Shredding), by Product (Crumbed Rubber, Tire Derived Fuel, Others), by Application (Manufacturing, Construction, Rubber Products, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.'
- Rise in production of more vehicles that leads to the production of more tires drives the growth of the global tire recycling market.
- Several restrictions on manufacturing activities across the world have a sheer negative impact on the global tire recycling market, especially during the initial period.
- Based on region, Asia-Pacific held the major share in 2021, generating more than half of the global tire recycling market.