USD 5.67 billion
GCC Tire Recycling Market Size, Share, Growth Analysis, By Type(Automobile Tires, Rubber Products, and Others), By Application(Cement Manufacturing, Tire-derived Products, Tire Pyrolysis, and Repurposing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20L2047 |
Region:
Regional |
Published Date: April, 2024
Pages:
202
|Tables:
64
|Figures:
76
GCC Tire Recycling Market Insights
GCC Tire Recycling Market size was valued at USD 5.67 billion in 2022 and is poised to grow from USD 6.07 billion in 2023 to USD 10.41 billion by 2031, at a CAGR of 6.98% during the forecast period (2024-2031).
Reusing used tires that might otherwise end up in landfills is a practice known as tire recycling. Used or scrap tires are recycled by the tire recycling industry into a range of products, such as new rubber-modified asphalt for roads and pavements, crumb rubber for athletic tracks & playgrounds, and solid surfaces made with ground tire pieces/chips (referred to as "tire-derived aggregate"), which are increasingly used to build walkways, patios, and curbs.
Additionally, this lessens the need for natural resources, which require a significant amount of energy to be removed from the environment. Tire recycling is a technique that recycles worn tires that are damaged and can no longer be used on cars. In order to dispose of the old and worn out tires in a practical and environmentally beneficial manner, the tires are typically recycled.
Tire recycling serves to conserve space that would otherwise go to landfills. Tire recycling saves enormous amounts of energy and lowers greenhouse gas emissions by greatly lowering the pressure on landfills and enhancing ecological balance. Tire recycling includes any process that involves shredding and grinding tires to produce another valuable item.
GCC Tire Recycling Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Automobile Tires
Fastest Growth
Automobile Tires
Growth Rate
6.98% CAGR
GCC Tire Recycling Market, 2022-2030(Bn)
Country Share for GCC- 2022 (%)
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GCC Tire Recycling Market Segmental Analysis
GCC Tire Recycling Market is segmented into type and application. By type it is segmented into Automobile Tires, Rubber Products, and Others. On the basis of application GCC Tire Recycling Market is segmented into The market is segmented into Cement Manufacturing, Tire-derived Products, Tire Pyrolysis, and Repurposing. On the basis of region, GCC Tire Recycling Market is segmented Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain
GCC Tire Recycling Market Analysis by Type
The market is divided into Automobile Tires, Rubber Products, and Others based on type. Recycling of worn or end-of-life automotive tires involves turning them into new products. The recycled material can be employed in a range of applications, including the manufacture of new rubber goods, the generation of fuel, and building. Reclaiming and processing rubber materials from end-of-life products is the process of recycling rubber products. Recycling in this way lessens environmental pollution and helps conserve energy and resources.
GCC Tire Recycling Market Analysis by Application
The market is segmented into Cement Manufacturing, Tire-derived Products, Tire Pyrolysis, and Repurposing. One of the most crucial uses of recycled tires is in the production of cement. Tire scraps are utilised as fuel to create heat in this procedure. After the heat is produced, the raw materials are dried and mixed with additional ingredients to make cement. Rubber is utilised in a variety of ways in items that are created from tires. The paving material "tire-cured asphalt" or "TAC" can be made by combining it with asphalt. Tire recycling can be used for a variety of purposes. One or more of these applications is Mats and surfaces: Rubber mats and flooring that are strong, waterproof, and mould and mildew resistant can be made from recycled tires.
GCC Tire Recycling Market size by type, 2022(%)
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GCC Tire Recycling Market Regional Insights
On the basis of region, it is segmented Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain. Among the GCC nations, Saudi Arabia has one of the largest automotive markets for both new and used automobiles, making it one of the largest markets for tires as well. Significant drivers of the Saudi Arabian tire market throughout the projection period include rising building activity, a growing vehicle fleet, and rising auto sales. As the Gulf nation combats a trash issue that led to the creation of one of the largest tire graveyards in the world, recycling of more than 42 million old vehicle tires dumped in Kuwait's sands has begun. It was about 7 miles from a suburban neighbourhood to the enormous waste site. Large flames that occasionally released toxic black smoke disturbed the locals. The opening of a cutting-edge tire recycling facility in Qatar demonstrates how rubber recycling is continuing to spread throughout the Gulf. The 20 000 square metre plant, which is situated in Qatar's Mesaieed Industrial City, will transform used tires and other rubber resources into new goods.
GCC Tire Recycling Market size by geography, 2022-2030
- Largest
- Fastest
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GCC Tire Recycling Market Dynamics
GCC Tire Recycling Market Drivers
Environmental Concerns to Bolster Demand for Tire Recycling
- The global tire recycling market is expanding as more automobiles are produced, which in turn increases the output of tires. Tires are also not biodegradable, making it impractical to dispose of them in landfills and risking further pollution of the air, land, and water. Recycling is therefore thought to be a successful strategy for effectively managing scrap tires, which has further aided industry expansion.
- Additionally, by implementing various eco-friendly industrial methods, nations all over the world are advancing toward a sustainable future, which has produced a lot of chances in the sector.
GCC Tire Recycling Market Restraints
Manufacturing Issues to Hinder Market Growth
- The global market for tire recycling is severely harmed by a number of manufacturing activity constraints, particularly in the beginning.
- The market situation was made much worse at the same time by a sharp fall in the demand for autos.
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GCC Tire Recycling Market Competitive Landscape
The competitive environment of the global market is moderately fragmented, with only a few big producers engaged both internationally and locally. Major corporations are forming strategic alliances to expand their individual portfolios and get a foothold in the global market.
GCC Tire Recycling Market Top Player's Company Profiles
- Sharjah National Crumb Rubber Industries
- Emirates Rubber Products Factory
- Oman Environmental Services Holding Company (be'ah)
- Gulf Rubber Industries LLC
- Aboura Metals FZCO
- Al Dhafra Recycling Industries
- Al Ramaqiah Pipes Trading LLC
- Al Serh Al Kabeer Construction Chemicals
- Atlas Industrial Equipment Company (ATLASCO)
- Emirates Environmental Technology Company LLC (EETC)
- Envirotainer Middle East LLC
- Green Energy for Waste Management LLC
- Gulf Green Tech LLC
- MRM Group
- Oman Oil Refineries and Petroleum Industries Company (Orpic)
- Quality Tyres
- Recycle Emirates
- Royal Green Recycling
- Tadweer - The Center of Waste Management - Abu Dhabi
- Universal Group
GCC Tire Recycling Market Recent Developments
- August 15, 2022, Faun Umwelttechnik GmbH & Co. KG introduced its new brand to the public in Bremen, and only two weeks later, the vehicle manufacturer from Niedersachsen was presented the first ever H2Eco Award during Hannover Messe.
GCC Tire Recycling Key Market Trends
- The expansion of government and environmental group attempts to reduce air pollution is a major factor driving the worldwide tire recycling market.
- Recycled materials are becoming more and more popular as a means of lowering CO2 emissions and the consumption of finite natural resources, which are driving the adoption of creative solutions to these problems.
GCC Tire Recycling Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, The expansion of tire recycling's potential and the development of cost-effective ways are both contributing to the growth of the worldwide tire recycling market. However, the expansion of the worldwide tire recycling market is anticipated to be constrained by recycling facilities that generate a sizable quantity of waste and pollute the air, which causes a number of health issues. The adoption of strict government laws and high standards for recycling is also projected to present opportunities for the global tire recycling market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.67 billion |
| Market size value in 2031 | USD 10.41 billion |
| Growth Rate | 6.98% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
GCC Tire Recycling Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GCC Tire Recycling Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GCC Tire Recycling Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GCC Tire Recycling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Tire Recycling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GCC Tire Recycling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Tire Recycling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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