Tire Derived Fuel Market

Tire Derived Fuel Market Size - (2023-2028):

The Global Tire Derived Fuels Market was worth US$ 406 million in 2022 and is predicted to reach US$ 554 million in 2028, with a CAGR of 5.50% over the foreseen period 2023-2028.

Tire-derived fuel is a fuel extracted from all types of employed tires such as whole tires or tires made in uniform flowable parts that meet end-user specifications, Employed tires are an exceptional source of fuel due to their high calorific value. Tire-derived fuel (TDF) is a fuel derived from all types of waste tires. This can include whole tires or tires made in uniform flowable parts that meet end-user specifications. Industrial facilities around the world, including cement kilns, pulp, and paper mills, and electrical utilities, use this as additional fuel to increase boiler efficiency, reduce air emissions, and lower costs.

Market Trends:

Tire-derived fuel is made from shredded employed tires. Tires can be mixed with charcoal or other fuels, such as wood or chemical waste, for burning in concrete kilns, power plants, or paper mills, which is promoting the demand in this business.

Market Drivers:

Some of the key factors driving market expansion are increased manufacturing, increased car sales, and a growing call for electric and hybrid vehicles. The call for fuel derived from tires is escalating dramatically due to its advantages, such as providing a higher calorific value than coal or wood. The calorific value of fuel derived from tires is about a third greater than that of coal and more than twice that of wood. These advantages of tire-derived fuel are predicted to drive market expansion over the foreseen period. Tire-derived fuels offer several advantages over traditional fuels. Tires produce almost similar energy as oil and around 25% more than coal. TDF ash residues may contain a lower heavy metal content than some coals. TDF is cheaper than fossil fuels. Burning tires for fuel decreases the number of employed tires that are thrown into landfills or inventory. TDF reduces emissions of sulfur oxides (SOx) when employed to replace high-sulfur coal in cement kilns.

Market Restraints:

However, huge processing cost is the restraining factor for the expansion of the international TDF market.

Market Opportunities:

Over the years, there has been an increase in calls for electric vehicles in the automotive industry to reduce greenhouse gas emissions and move towards a sustainable ecosystem. Increased sales of electric vehicles and hybrid electric vehicles are predicted to attract more end-of-life tires during the foreseen period, which can be converted into fuel. Therefore, the escalating call for such vehicles will drive the expansion of the tire-derived fuels market during the foreseen period. Fuel prices are continually rising and there are no signs of easing in the future. The call for fossil fuels is escalating and fuel remains the main natural resource employed in cement manufacturing facilities. The growing focus on reducing greenhouse gas emissions and strict regulations to minimize the carbon footprint has driven calls for electric vehicles (EV) and hybrid electric vehicles (HEV) around the world. The governments of several countries, including China and the United States, set targets and offer incentives in the form of monetary and non-monetary benefits to promote the sales of electric vehicles. Increased sales of electric vehicles and electric sports vehicles will increase the number of tires at the end of their useful life. These end-of-life tires can be converted to PTO and employed for various applications. Therefore, the growing call for EV and HEV will be one of the critical trends in the tire-derived fuel market.

Market Recent Developments:

• CM Shredders declared the deployment of its TDF shredding systems in the US and the UK. CM reports that the call for tire-derived fuels (TDF) is escalating dramatically due to their advantages over traditional fuels, such as providing a calorific value higher than coal or wood.

TIRE DERIVED FUEL MARKET REPORT COVERAGE:

Market Segmentation:

Tire Derived Fuel Market - By End-User Industry:

• Cement Kilns
• Pulp and Paper Mills
• Utility and Industrial Boilers

On the basis of end-users, the cement manufacturing sector led the worldwide tire-derived fuel industry with a 41% share in value in 2020. The segment was followed by the pulp and paper mill segment. Additionally, cement manufacturing companies use whole and shredded tires to supplement their primary cement kiln fuel. Several characteristics like high BTU value make tires an ideal choice for fuel among cement kilns.

Market Regional Analysis:

The Tire Derived Fuel Market includes are:

• North America - U.S., Canada.

• Europe - The UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific - India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America - Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• Middle East & Africa - KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

The Asia Pacific region is predicted to have a significant market share during the foreseen period due to the increase in the generation of newer tires as well as waste tires. Japan had a significant market share for tire-derived fuels in the Asia Pacific. More than 80 million units of employed tires are produced in Japan each year. However, the call for tire-derived fuel in India is predicted to increase at a rapid pace during the foreseen period. Asia-Pacific is a key region in the tire-derived fuel market. It is predicted to remain dominant during the foreseen period, driven by a year-over-year increase in the production of new and employed tires. Japan had a significant share of the Asia Pacific tire-derived fuel market in 2017. In India, more than 25 million vehicles were produced in the 2016-2017 fiscal year. Therefore, the production of new tires is very high in the country.

In terms of consumption, the United States is an important country in the market for tire-derived fuels. In the United States, more than 250 million scrap tires were produced in 2017. Of these, 81.4% of scrap tires were recycled and reemployed for various applications. More than 100 million tires have been employed for fuel in pulp and paper mills, cement manufacturing, and utility boilers, among others.

Market Key Players:

Some of the key players in Tire Derived Fuel Market include

1. Emanuel Tire
2. ETR Group
3. Front Range Tire Recycle, Inc
4. Globarket Tire Recycling LLC
5. L & S Tire Company
6. Lakin Tire West Inc
7. Liberty Tire Recycling
8. Ragn-Sells Group
9. Reliable Tire Disposal
10. Renelux Cyprus Ltd
11. ResourceCo Pty Ltd
12. Scandinavian Enviro Systems AB
13. Tire Disposal & Recycling, Inc
14. West Coast Rubber Recycling Inc