Focus on the Cement Industry for Maximum Gains in the Tyre Derived Fuel (TDF) Market, Says Fairfield Market Research

LONDON, Sept. 16, 2021 /PRNewswire/ -- Almost a billion scrap tyres are generated every year with four billion stockpiled across the globe. Tyre derived fuel is less expensive than other fossil fuels, reduces consumption and decreases emissions. The U.S. Environmental Protection Agency states that tyres generate a similar amount of energy as oil when burned and approx. 100–200% times greater than wood. The demand for tyre-derived fuel is driven by government support, the need to ensure energy security, and manage waste efficiently. This is bolstered by the constant volatility in the price of crude, aiding growth in the tyre-derived fuel market.

The global tyre derived fuel market was worth US$365.1 Mn in 2019 and will reach a valuation of US$430.3 Mn by 2025, registering a CAGR of 3.3% between 2020 and 2025.

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Rapid Recovery on the Anvil as Nations Focus on 3R Concept for Scrap Tyre Management

COVID-19 has battered multiple industries such as pulp and paper, electrical utilities, and cement manufacturing. The vast majority of tyre-derived fuel is deployed in the cement industry as a substitute fuel. In 2020, lockdowns resulted in production cuts or factory closures across the globe, leading to a fall in demand for tyre-derived fuel. Nevertheless, the recovery should be swift as countries take note of the 'Reduce, Reuse, and Recover' (3R) concept for scrap tyres, auguring well for companies in the tyre-derived fuel market.

Cement Industry to Dominate TDF Market to Save Costs

Nearly 50% of the global tyre derived fuel market is held by the cement industry and this is predicted to remain for the foreseeable future. Industrial units worldwide rely on cement, paper mills, and pulp, and cement manufacturing is a key end-user of tyre-derived fuel. Fuel prices are on an upswing with no signs of immediate relief with fossil fuels consisting of the bulk of cement manufacturing cost. The cement industry can consume almost 300,000 tons of coal per facility on a yearly basis. Cement manufacturers utilise tyre-derived fuel to complement their primary fuel for firing cement kilns – primarily as a cost-saving mechanism.

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Asian Tyre Manufacturers Working With Governments to Implement Waste Tyre Norms

Asia Pacific is a significant contributor to the tyre derived fuel market and accounted for 30% share in 2019. Japan is a major market for tyre-derived fuel with millions of scrap tyres generated on the island nation. However, robust growth is anticipated in China and India with Automotive Tyre Manufacturer's Association and Technology, Environment, Safety, and Standards (TESS) working in close coordination with the government of India to develop waste tyre mandates.

Pervasive Car Ownership and Shift to EVs Make North America Vital in TDF Market

Cement processing plants are widespread in the U.S., explaining the huge demand for shredded tyres. As per the World Business Council for Sustainable Development, the U.S. and European Union throw 14% and 16% of their scrap tyres into landfills with half sent to landfills in Argentina, Russia, Ukraine, and Saudi Arabia. Furthermore, vehicle ownership is very high in Europe and North America and these continents are leading the shift towards electrification. This directly contributes to a rise in the production of scrap tyres, providing a further impetus to tyre-derived facilities in the west.

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Three Companies Hold Large Portion of the Tyre Derived Fuel Market

In 2019, three companies comprised 30% of the tyre derived fuel market. A few profiled in this report are L & S Tyre Company, Probio Energy International, Tyre Disposal & Recycling, Reliable Tyre Disposal, Renelux Cyprus Ltd, Liberty Tyre Recycling, ResourceCo Pty Ltd., Ragn-Sells Group, Front Range Tyre Recycle, Inc., ETR Group, Emanuel Tyre, LLC, and Scandinavian Enviro Systems AB.

In 2020, Liberty Tire Recycling completed its acquisition of Lakin Tire and it now annually collects 180 million tyres while recycling 2.6 billion pounds of rubber into environmentally-friendly products.

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