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).

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.