Tire Derived Fuel Market Size is Estimated to grow at a CAGR of 3.7% during the forecast period

 

The tire-derived fuel market is estimated to grow at a compound annual growth rate (CAGR) of 3.7% during the forecast period, with a global market value of USD 390.2 million in 2022. It is utilized in utility and electric boilers, pulp and paper mills, and cement kilns. The market's notable expansion can be ascribed to the swift industrialization process. Environmentally friendly alternative energy is used in many enterprises; the market is expanding because to rising demand for chipped tires as fuel sources.

It is becoming more popular because of its potential for energy recovery and waste tire management. The market is expanding as a result of factors like environmental concerns, regulatory laws, and the need for alternative fuels in sectors like cement manufacturing.

 

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Growth Drivers

The market for fuel made from tires is growing as more people look for environmentally friendly ways to dispose of their old tires. Cement kilns and other energy-intensive operations can benefit from the alternative fuel source provided by tire-derived fuel, which is highly sought after due to its high energy content. When compared to conventional options, it is a more affordable fuel source, which appeals to enterprises trying to control costs without sacrificing sustainability.

TDF is a desirable alternative since enterprises are being encouraged to embrace eco-friendly operations by the increased awareness of environmental issues. The TDF market as a means of recycling old tires is growing as sustainable waste management solutions become more and more important. The primary reasons propelling the growth of this market are environmental concerns.

Segmentation

By Tire Source

·         Light Motor Vehicles

·         Heavy Duty Vehicles

·         Motorcycle

·         Aircrafts

·         Bicycle

·         Others

By Type

·         Shredded Tyre

·         Whole Tyre

By Application

·         Cement Industries

·         Power Plants

·         Pulp and Paper Mills

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Key Players

·         Ragn-Sells Group

·         Liberty Tire Recycling

·         Resource Co

·         Lakin Tire West

·         Renelux Cyprus

·         Tire Disposal and Recycling

·         West Coast Rubber Recycling

·         Globarket Tyre Recycling

·         Emanuel Tire

·         Other Players

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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