Global Tire Recycling Market Analysis Report 2016-2024
According to Goldstein Research, global tire recycling market is expected to grow from USD 0.95 billion in 2016, at a compounded annual growth rate of 2.1% over the forecast period 2016-2024. The increasing environmental concerns related to CO2 and scrap tires has led to adopt new strategies for recycling and reusing the waste tires and thus inducing the growth of the market. Global tire recycling market segmentation has been carried out on the basis of rubber type, product type, and end-user. Based on the product type, crumb rubber is largely contributing towards the growth of a complete tire recycling market. Crumb rubber is followed by the rubberized asphalt, showing the highest growth rates on the back of adoption in the construction industry. The global tire recycling industry is majorly driven by Europe followed by North America. Europe accounted for USD 0.33 billion market size and is growing at a strong growth rate due to strict recycling norms and other environmental regu