Scrap Tire Recycling Markets to Reach $9.5 Billion by 2022

Nebraska awarding $1.59 million to support 106 tire recycling and cleanup projects

Nebraska Department of Environmental Quality Director Jim Macy announced on June 19, 2018 that the state is awarding $1.59 million to support 106 tire recycling and cleanup projects across the state.

WELLESLEY, Mass., July 10, 2018 -- Stricter government regulations for environmental protection is contributing to a global rise in scrap tire recycling initiatives. According to the BCC Research report Global Market for the Tire and Rubber Remediation and Recycling Industry, this market is anticipated to grow from $7.6 billion in 2017 to nearly $9.5 billion by 2022 at a compound annual growth rate (CAGR) of 4.5%.

According to the report, scrap tire recycling as tire rubber granulate and powder in various applications is expected to be the main recovery route in most of the developed and developing markets. Applications for scrap tire rubber such as rubberized asphalt and molded and extruded products have become recognized for their preferable properties. The future for tire recycling is strong. And right now, the waste tire pyrolysis to fuel oil technology is the most popular environmental friendly type way to recycle the waste tires.