The global tire derived fuel market is considered as one of the oldest ways of deriving fuel from scarp tiers and is expected to grow significantly in coming years. Tire derived fuel has various advantages over traditional fuels. Approximately 300 million tries are scrapped globally, out of which 52% is consumed to manufacture tire derived fuel. According to the United States Environment Protection Agency, the fuel derived from tire is high in Btu-value that reduces the emission of greenhouse gases and harmful gases. The Environment Protection Agency states that suitable emission checks are expected to help in obtaining fuel energy in large amount that will in turn is projected to protect the environment from harmful gases.
The application of tire derived fuel is seen in various industries such as paper and pulp industry, electric utilities, cement manufacturing, and industrial boilers. Out of these, cement manufacturing industries are expected to lead the market, as they employ tire derived fuel to supplement their primary fuel for lightning the cement kilns.
The report presented herewith gives a complete analysis of the global market for tire derived fuel with a special focus on various market dynamics such as driver, restraints, trends, and opportunities. The segmentation and geographical analysis is based on factual details.
Global Tire Derived Fuel Market: Trends
The use of tire derived fuel is largely seen in cement manufacturing companies, as they supplement their primary fuel for lighting kilns. Moreover, tire derived fuel decreases the emission of smoke during the manufacturing of cement, pulp, paper, and electric utilities, as compared to other fuels. It is also used in the manufacturing of pulp and paper. Tire derived fuel is highly effective as it reduces fuel cost and improves emissions and combustion efficiency. Thus, these factors are expected to increase the demand for fuel derived from tires and will benefit the market to grow significantly during the forecast period.
Global Tire Derived Fuel Market: Geography
The global tire derived fuel market is expected to witness high demand in Europe and North America owing to the enlargement of the paper and cement industry in these regions. The growth for this market is also seen in Latin America and Asia Pacific, as the manufactures in these regions are highly investing in research and development activities that have helped in low emission of harmful gases. Thus, with the environment friendly and various other beneficial properties of the tire derived fuel is expected to grow immensely in forthcoming years.
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Global Tire Derived Fuel Market: Competition
Various leading companies are also studied in the report that helps in understanding the competitive landscape of the global tire derived fuel market. High competition is seen, as few companies hold the maximum share in the market. Liberty Tire Recycling, Lakin General Corporation, AFS Technology, and Probio Energy International are some of the leading players in the global tire derived fuel market. Due to limited number of players, the market is experiencing intense competition among these players.
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