April 11, 2022 10:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
ALBANY, N.Y., April 11, 2022 (GLOBE NEWSWIRE) — Increasing emphasis by governments on making beneficial use of scrap tires by using it as a fuel is a key pivot for the expansion of avenues in the tire derived fuel market. Massive generation of scrap tires and the presence of dedicated tire-to-energy facilities in end-use industries has enriched the entire value chain. The global valuation of tire derived fuel market is projected to reach US$ 510.91 Mn by 2031, expanding at CAGR of 2.9% during the forecast period of 2021–2031.
Several industrial facilities in multiple end-use industries are adopting tire-derived fuel supplemental fuel with benefits of reduced air emissions and fuel costs as well as for boosting increase boiler efficiency. In developed countries, revenues from sales are growing on back of favorable regulatory outlook where tire-derived fuel (TDF) is considered as a high BTU-value fuel with lower emissions. In the U.S., number of industrial facilities using TDF as supplemental fuel has been rising.
Rising adoption of TDF as a supplemental fuel to primary source in utility boilers, cement kilns, and pulp & paper mills has expanded profitable avenues, found analysts in an in-depth TMR study on the dynamics of the tire derived fuel market. The preference of TDF over coal is increasing in electric utilities can be ascribed to the advantage of fewer nitrate emissions and higher BTU value than coal.
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Key Findings of Tire Derived Fuel Market Study
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Tire Derived Fuel Market: Key Drivers
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Tire Derived Fuel Market: Regional Growth Dynamics
Tire Derived Fuel Market: Key Players
Some of the key players in the tire derived fuel market are Renelux Cyprus Ltd., Emanuel Tire, ResourceCo Pty Ltd., Lakin Tire West Inc., Ragn-Sells Group, and Liberty Tire Recycling.
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Global Tire Derived Fuel Market: Segmentation
Tire Derived Fuel Market by Type
Tire Derived Fuel Market by End-user
Tire Derived Fuel Market by Region
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