To know the impact of COVID-19 On Tire Derived Fuel Market By Type (Shredded Tires, Whole Tires), By End-User (Manufacturing, Cement, Utility Boilers, Pulp & Paper Mills, Others), Industry Analysis, Trends, And Forecast, 2021-2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Tire Derived Fuel Market is valued at USD 137.6 Million in 2020 and expected to reach USD 182.4 Million by 2027 with a CAGR of 4.1% over the forecast period.
Tire Derived Fuel Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Depleting fossil fuel & rising scrap tire waste globally are anticipated to drive growth of Global Tire Derived Fuel Market.
Scope of Global Tire Derived Fuel Market Report:
Tire derived fuel (TDF) is the fuel obtained from scrapped tires of all kinds. The tire derived fuel is used in various industrial facilities combustion units as it provides more heat at cheap rate than compare to coal. It can be used as main fuel or as supplement fuel to increase the efficiency and decrease air emission at lower cost. The primary reason to use scrap tire as fuel is to reduce the fuel cost as tires are compact, consistent composition & low moisture which benefits the fuel user and reduces uses of scrap tire for landfills or stockpiles. The heating value of passenger tire is approx 14000 Btu/lb compared to 11000 Btu/lb for coal. The combustion system may accept whole tire or of processed in certain size depending on the requirement of fuel user after scrap tires are processed like shredding, removing dirt, metal & other contaminations.
The tires produce temperature for long time in the kiln with no smoke, odor or visible emission the ash can be used as the ingredient for final product in cement industry. There is no significant difference in the emission data sets for nitrogen oxides, sulfur dioxide, carbon monoxide, total hydrocarbons, and metals between TDF combusting kiln and non-TDF firing kilns. The passenger tire also contain 2.5 pounds of high grade steel which is used as component in cement product & reduced iron requirement for manufacturing process. The demand for new tire will rise with increasing growth of automotive industry which will result in more scrap tire.
During Covid-19 Pandemic, the demand for new tires reduced drastically during lockdown period due to reduced traveling and automotive use. The decreasing customer’s purchase power means delayed tire change has affected the TDF business. The demand for tire derived fuel also reduced due to manufacturing sector closed operation in pandemic. The market for tire has started picking pace with increased automotive demand & increased job opportunities around the globe after lockdown.
Global tire derived fuel market report is segmented on the basis of type, end-user, and region & country level. Based upon type, global tire derived fuel market is classified into shredded tires and whole tires. Based upon end-user, global tire derived fuel market is divided into manufacturing, cement, utility boilers, pulp & paper mills and others.
The regions covered in global tire derived fuel market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global tire derived fuel is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Key Players for Global Tire Derived Fuel Market Report:
Some of the key players for global tire derived fuel market are Ragn-Sells Group, Liberty Tire, Whole Tire, ResourceCo Pty Ltd., Tire West Inc., Renelux Cyprus Ltd, Emanuel Tire, Globarket Tire, Whole Tire LLC, Tire Disposal & Whole Tire, Inc., West Coast Rubber Whole Tire Inc., L & S Tire Company, ETR Group, Reliable Tire Disposal Recycling LLC, Lakin Tire, and others.
News: Liberty Tire Recycling Acquired Lakin Tires.
On March 17TH, 2020; Lakin Tire, a family owned enterprise collects 30 million tires from 6500 tire retailer customers acquired by Liberty Tire Recycling which increases its capacity to collect 180 million tires & generate 2.6 billion pound of recycled rubber products annually in U.S. The merger will provide high quality, comprehensive tire collection service & eco-friendly recycled products to its customers which include including crumb rubber and industrial feedstock for molded products, tire-derived fuel for industrial kilns, mills and power plants and rubber mulch for landscaping and playgrounds.
Depletion of Fossil Fuel along with Growing Tire Waste is the Major Factor Drives the Market Growth
The major factor driving the growth of global tire derived fuel market is the depletion of the fossil fuel. The mankind has consumed fossil fuel at faster pace than its generation which makes it non feasible for long duration. According to studies; it will not last more than 50 years. In addition, the growing tire waste supporting the environment for mosquitoes, scarce of land & on burning produce smoke which is 1000 time more harmful than exhaust smoke and the decomposition take long time i.e. approx. 80 years. But it can be used as TDF which is safe and fast. However, high processing cost associated with the extraction of fuel from scrap tires may hamper the market growth. For example; undeveloped region don’t have homes made of cement, road which result in reduced demand for scrap and due to low automotive demand the scrap production is very low. In spite of that, increasing technological advancements in this field create more opportunities for the further growth of the market.
North America is Anticipated to Dominate the Global Tire Derived Fuel Market.
The global tire derived fuel market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is anticipated to capture the largest market share in the global tire derived fuel market due to increasing tire waste in this region within the forecast period. The U.S. is the largest producer of the waste tire with 300 million per year which will increase with time but the region export the waste tire for recycling purpose due its low cost instead doing it locally.
Asia Pacific is expected to witness a fastest growth in the global tire derived fuel market within the forecast period due to increased demand for vehicle with growing population in this region. In addition, the infrastructure development in the region is at fast pace. The 5 lakh tonnes of tire waste is used for road construction every year in India. India & China is the largest producer of reclaimed rubber in world. China has 360 million vehicle in June 2020 which will result in rising tire waste in the region.
Key Benefits for Global Tire Derived Fuel Market Report:
- Global Tire Derived Fuel Market report covers in-depth historical and forecast analysis.
- Global Tire Derived Fuel Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Tire Derived Fuel Market report helps to identify opportunities in marketplace.
- Global Tire Derived Fuel Market report covers extensive analysis of emerging trends and competitive landscape.
Global Tire Derived Fuel Market Segmentation:
- Shredded Tires
- Whole Tires
- Utility Boilers
- Pulp & Paper Mills
By Regional & Country Level:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Frequently Asked Questions (FAQ) :
Interested in this report?
Tire Derived Fuel Market Size, Share, Growth And Forecast By 2027
Tire Derived Fuel Market By Type (Shredded Tires, Whole Tires), By End-User (Manufacturing, Cement, Utility Boilers, Pulp & Paper Mills, Others), Industry Analysis, Trends, And Forecast, 2021-2027
Note: For delivery of sample pages you must have a Domain Specific Email ID, normally your business email address complies. Generic Email IDs such as AOL, Hotmail, Yahoo, Gmail, MSNetc. are not accepted.
Brandessence market research actively tracks, monitors, and analyses key industry trends in real-time via B2B surveys in 60 + countries and territories.