Global Tire Shredder Market: Market Dynamics

 

The initiative of energy and nature conservation, which is mandated at regional governments has led to the recycling of tires thus driving the tire recycling process equipment market including tire shredders. Apart from core rubber being extracted from tire shredding other by-products such as wire-free chips, steel, rubber, etc. are obtained which can be used as fuel feedstock or fuel additive.

 

This lucrative opportunity has also encouraged waste recycling companies to sell the by-products of used tires to external energy generation agencies for which the installation and operations of tire shredders have augmented its market growth. Furthermore, the end products produced from the tire shredder have a wide range of end uses such as, in civil engineering, shoe manufacturing, and other sustainable landscaping outlets.

 

Another driving factor for the growth of tire shredders is that the average lifespan of an automotive tire being 4-5 years and significant procurement cost of the new tire has resulted in independent aftermarket agencies offering recycled tires at a nominal rate. This objective is being achieved with the help of tire shredder being a piece of crucial equipment in the recycling process.

 

Additionally, the tire manufacturers can themselves procure the used tires and recycle the same thus reducing consumption of rubber of raw materials saving significant manufacturing overhead costs. This will create new growth opportunities for the use of tire shredders in upcoming years. The above-said factors are projected to facilitate healthy growth for the tire shredder market in the current and upcoming periods.

 

However, the tire manufactures are emphasizing to produce durable tires having long life-cycle, which may offset the rate of tire-shredding which may act as a restraint for the global tire shredder market. In spite of these factors, the market participants and industry experts are optimistic that the adoption of tire shredder would be on an upward growth path in the long run.