Tire derived Fuel - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Tire Derived Fuel market is accounted for $124.51 million in 2019 and is expected to reach $175.72 million by 2027 growing at a CAGR of 4.4% during the forecast period. Some of the key factors propelling the market growth are mounting manufacture along with rising sales of automobiles and augment in demand for EVs and HEVs. However, huge processing cost is the restraining factor for the growth of the market.
Tire-derived fuel (TDF) is fuel taken from all types of scrap tires. It may comprise whole tires or tires processed into uniform, flowable parts that satisfy specifications of end-users. Scrap tires are an exceptional source of fuel due to their elevated heat value. The heating value of an average sized passenger tire ranges between 13,000 Btu/lb and 15,000 Btu/lb compared to about 10,000 Btu/lb and 12,000 Btu/lb for coal. Another main reason for using tire fuels is to save fuel costs.
By application, cement manufacturing segment is expected to grow at the significant market share during the forecast period due to numerous characteristics, such as high british thermal unit (BTU) value, make scrap tires a preferred fuel source for cement kilns. High temperatures and lengthy fuel residence time in a kiln let the whole combustion of tires. Consequently, there is no smoke, odor, or visible emissions from the tires.
On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period owing to augment in generation of latest tires as well as scrap tires. Japan held a major share of the tire-derived fuel market in Asia Pacific. More than 80 million units of scrap tires are produced in Japan every year. Though, demand for tire-derived fuel in India is predictable to go up at a fast pace during the forecast period.
Some of the key players in Tire Derived Fuel Market include Emanuel Tire, ETR Group, Front Range Tire Recycle, Inc, Globarket Tire Recycling LLC, L & S Tire Company, Lakin Tire West Inc, Liberty Tire Recycling, Ragn-Sells Group, Reliable Tire Disposal, Renelux Cyprus Ltd, ResourceCo Pty Ltd, Scandinavian Enviro Systems AB, Tire Disposal & Recycling, Inc and West Coast Rubber Recycling Inc.
• Whole Tire
• Shredded Tire
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• Cement Manufacturing
• Industrial Boilers
• Pulp and Paper Mills
• Utility Boiler
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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