Tire Derived Fuel Market Size to Reach USD 636.3 Million by 2032 growing at 4.5% CAGR - Exclusive Report by Acumen Research and Consulting

Author: Acumen Research and Consulting

According to Acumen Research & Consulting, the global Tire Derived Fuel Market was valued USD 412.6 Million in 2022 and is estimated to be worth USD 636.3 Million by 2032, rising at a CAGR of 4.5% over the forecast period

Tire derived fuel (TDF) is an industry that collects, processes, and uses waste tires as a fuel source in a variety of industrial sectors. It is a subset of the waste-to-energy and renewable energy sectors. The tire derived fuel TDF sector is critical in tackling the issues of waste tire disposal while also providing an alternative fuel source with economic and environmental advantages.

TDF collects discarded tires from a variety of sources, including vehicle repair centers, tire shops, recycling centers, and trash management facilities. These collected tires are then treated to eliminate any pollutants before being converted into gasoline. To improve combustion qualities and assist handling, tires are often shredded or chipped into tiny pieces.

TDF is used in industrial applications such as cement manufacture, pulp and paper mills, utility boilers, and other energy-intensive operations once it has been treated. TDF may be used in place of traditional fossil fuels such as coal or oil, providing benefits such as high energy content, decreased greenhouse gas emissions, and a sustainable waste management solution.

TDF sector growth is impacted by a variety of variables, including government regulations favoring renewable energy, environmental sustainability goals, and TDF's economic competitiveness in comparison to conventional fuel sources. Technological advances in tire processing and combustion systems also help to the industry's growth by allowing for more efficient and cleaner TDF use.

Tire Derived Fuel Market Value

Tire Derived Fuel Market Statistics

  • With a 4.5% CAGR (2023-2032), the worldwide tire derived fuel market revenue is estimated to reach USD 412.6 Million in 2022
  • North America represented over 33% of the tire derived fuel market share in 2022
  • The Asia-Pacific tire derived fuel market growth is expected to rise at a CAGR of more than 5% between 2023 and 2032
  • The shredded tire type covered over 61% share in 2022
  • Based on application, the cement manufacturing occupied US$ 148.5 million in 2022
  • Increasing focus on circular economy initiatives is the new tire derived fuel market trend

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Tire Derived Fuel Market Dynamics

Increasing Demand for Alternative Fuels and Renewable Energy Sources Fuels the Tire Derived Fuel Market Value

In the tire derived fuel (TDF) business, there is a rising need for alternative fuels and renewable energy sources. Several causes are driving this trend, including increased awareness of climate change, depletion of fossil fuel supplies, and the desire to minimize greenhouse gas emissions.

As governments and companies throughout the world work to shift to cleaner, more sustainable energy sources, there is growing interest in using TDF as a renewable fuel. TDF is an appealing alternative to traditional fossil fuels such as coal and oil since it may help minimize dependency on finite resources while also lowering carbon emissions.

The rising demand for alternative fuels and renewable energy sources has resulted in greater investments and activities in the TDF sector. TDF is being investigated as a feasible and sustainable fuel source by industries such as cement manufacture, pulp and paper mills, and utility boilers. Furthermore, there is a drive to develop and adopt more efficient combustion technologies and emission control systems to assure TDF's environmental performance as an energy source.

Overall, rising demand for alternative fuels and renewable energy sources is boosting TDF market acceptance and growth, establishing it as a vital contributor to a more sustainable and low-carbon future.

Expansion of Tire-Derived Fuel Utilization in Emerging Economies Will Generate Surplus Worldwide Tire Derived Fuel Market Opportunities

Another important development in the tire derived fuel (TDF) industry is the increased use of TDF in emerging markets. Energy demands are growing as emerging countries undergo fast industrialization and economic expansion. This opens the door for TDF to be used as a viable and sustainable fuel source in these areas.

Emerging economies frequently encounter waste management difficulties, such as the disposal of enormous numbers of discarded tires. TDF solves this problem by providing an ecologically responsible and cost-effective method of repurposing scrap tires. These economies may handle waste management challenges while also satisfying their energy needs by utilizing TDF.

Several reasons contribute to the increased use of tire-derived fuel TDF in emerging economies. Governments and regulatory agencies in these places see TDF's potential as a renewable energy source and are enacting regulations and incentives to encourage its use. This involves funding for TDF processing facilities and encourages collaboration among tire makers, energy businesses, and waste management organizations.

Furthermore, technological breakthroughs and improved processing methods are making TDF production more efficient and inexpensive, fueling its rise in emerging nations. TDF provides a sustainable and widely available answer to these countries' efforts to attain energy security and minimize their carbon impact.

The increased use of TDF in emerging economies not only addresses waste management issues, but also adds to their long-term development goals. These nations can improve their energy resilience, alleviate environmental concerns, and create new chances for economic growth by lowering their reliance on traditional fossil fuels and fostering the circular economy.

Overall, the increased use of TDF in emerging nations is a key market trend, driven by the demand for sustainable energy solutions and the need to solve waste management issues. TDF use is likely to expand as these economies grow, leading to a more sustainable global energy picture.

Tire Derived Fuel Market Segmentation

The global market has been categorized into type, tire source, application, and regions

  • The type segment is split into shredded tire and whole tire
  • Tire source segment is divided into light motor vehicles, heavy duty vehicles, motorcycles, aircrafts, bicycles, and others
  • Application segment is split into pulp and paper mills, cement manufacturing, utility boiler, and others
  • The market is divided into five regions that are North America, Europe, Latin America, Asia-Pacific, and The Middle East and Africa (MEA)

Tire Derived Fuel Market Share

According to the tire derived fuel market forecast, the shredded tire sub-segment would have the most market share between 2023 and 2032.

According to tire source, heavy duty vehicles held the largest market share in 2022, while light motor vehicles are expected to grow significantly in the next years.

According to the tire derived fuel industry report, the cement production sector held a significant market share in 2022 and is expected to continue to do so in the future.

Tire Derived Fuel Market Regional Outlook

North America is the dominant region in the tire derived fuel (TDF) market. The US, in particular, has a well-established TDF sector, owing to tight environmental rules, modern waste management infrastructure, and a significant emphasis on renewable energy sources. TDF has seen widespread use in North America, particularly in cement industry, pulp and paper mills, and utility boilers.

At the time, the Asia-Pacific area was the fastest developing region in the TDF industry, with tremendous development potential. Countries like China, India, Japan, and South Korea were rapidly industrializing and urbanizing, resulting in significant waste tire output. The growing emphasis in these nations on sustainable energy sources and waste management practices was predicted to increase TDF adoption and contribute to the region's market growth.

Tire Derived Fuel Market Players

Some prominent tire derived fuel companies covered in the industry include Global Tire Recycling, L & S Tire Company, Lakin Tire West, Liberty Tire Recycling, Ragn-Sells Group, Reliable Tire Disposal, Renelux Cyprus, ResourceCo, Scandinavian Enviro System, and Tire Disposal & Recycling.

Tire Derived Fuel Business Strategies

  • Ragn-Sells Group, a Swedish waste management firm, has been actively involved in tire recycling programmes. The firm recently teamed with Scandinavian Enviro System to create a tire recycling plant in Denmark. The plant will use Enviro's technology to recover valuable minerals from used tires, therefore supporting the circular economy and lowering environmental impact.
  • ResourceCo, an Australian trash management and recycling firm, has made significant progress in waste tire management. ResourceCo has collaborated with Tirecycle, another Australian tire recycling firm, to build a new tire recycling plant in New South Wales. The factory intends to recycle more than 60,000 tonnes of scrap tires each year, generating valuable materials for reuse.

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