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

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).

The competitive environment of the 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 market. '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', '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.'

The 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.

The expansion of government and environmental group attempts to reduce air pollution is a major factor driving the worldwide tire recycling market.

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.