Rising Demand for EVs and HEVs Spurs Interest in Sustainable Tire-Derived Fuel as an Alternative

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Oct 09, 2023, 10:45 ET

DUBLIN, Oct. 9, 2023 /PRNewswire/ -- The "Global Tire-Derived Fuel Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.

The tire-derived fuel market is poised for significant growth, with a projected increase of USD 72.57 million during the period from 2022 to 2027, at an accelerating Compound Annual Growth Rate (CAGR) of 3.34% throughout the forecast period.

The comprehensive report on the tire-derived fuel market offers a holistic analysis, encompassing market size and forecasts, current trends, growth drivers, challenges, and vendor analysis, featuring approximately 25 vendors.

Key Market Drivers

The growth of the tire-derived fuel market is driven by several key factors:

Growing Automotive Fleets: An increase in automotive fleets contributes to higher tire disposal rates, thus driving the demand for tire-derived fuel.
Benefits of Tire-Derived Fuel: Tire-derived fuel offers advantages over conventional fuels, making it an attractive option for various industries.
Regulatory Mandates: Regulatory mandates and environmental concerns are pushing industries to seek cleaner and more sustainable fuel alternatives, further propelling market growth.

Market Segmentation

The tire-derived fuel market is segmented as follows:

By Type:

Shredded Tire
Whole Tire

By End-user:

Cement Kilns
Pulp and Paper Mills
Utility and Industrial Boilers

By Geography:

APAC (Asia-Pacific)
Europe
North America
South America
Middle East and Africa

Emerging Market Trends

The report identifies several emerging market trends, including:

Advances in Tire Recycling Technologies: Technological advancements in tire recycling are expected to fuel the tire-derived fuel market's growth in the coming years.
Increase in Demand for EVs and HEVs: The growing demand for Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) may contribute to the tire-derived fuel market, as tire disposal rates could rise with the increase in automotive battery production.
Challenges to Increase Investments in the Coal Industry: Challenges related to investments in the coal industry may drive industries to explore alternative fuel sources, including tire-derived fuel.

Key Companies Mentioned

The report provides vendor analysis and mentions approximately 25 companies operating in the tire-derived fuel market, including:

Babcock and Wilcox Enterprises Inc.
Beta Analytic Inc.
CH2E
Emanuel Tire LLC
Front Range Tire Recycle Inc.
George K. Moss Co. Inc.
Lakin Tire
Liberty Tire Recycling LLC
MS Tire Recycling LLC
Ragn-Sells Group
Reliable Tire Disposal
Renelux Cyprus Ltd.
ResourceCo Pty Ltd.
Scandinavian Enviro Systems AB
Tire Disposal and Recycling Inc.
Tire Stewardship Manitoba
Tyrec Ltd.
Weibold
West Coast Rubber Recycling Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ero6so

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