Tire Recycling Market Analysis: Key Players and Strategies

The global tire recycling market was valued at USD 6.87 billion in 2024 and is expected to reach USD 8.46 billion by 2030, expanding at a CAGR of 3.71% from 2025 to 2030. Market growth is being supported by the increasing adoption of recycled tire materials by governments and construction companies for applications such as road paving, sound barriers, and playground surfaces, where durability and sustainability are key priorities. These applications continue to generate steady demand for tire-derived products.

The industry is undergoing a significant transformation as recycled rubber is increasingly being used in high-value applications, including asphalt modification, automotive components, and sports surfaces. This shift is largely driven by technological advancements in recycling and processing methods, which now allow the production of finer, cleaner, and more refined rubber powders that comply with strict industry standards.

Both public and private sector stakeholders are investing in research and development to improve the performance characteristics of recycled rubber, positioning it as a reliable alternative to virgin materials. As sustainability becomes a core focus across industries, manufacturers in construction, transportation, and related sectors are incorporating recycled rubber into their products to lower environmental impact while maintaining required performance levels, thereby strengthening demand for innovative tire-derived materials.

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Key Market Trends & Insights

• Asia Pacific accounted for the largest share of the global tire recycling market, holding 37.98% of total revenue in 2024. Rapid growth in this region is supported by an expanding automotive industry and rising vehicle ownership. Countries such as India, Japan, and South Korea are increasingly prioritizing cost-efficient and sustainable raw materials, encouraging manufacturers to integrate recycled rubber and tire-derived products into their supply chains.
• By product, the rubber segment led the market with a 37.63% revenue share in 2024. Growing demand for durable and economical alternatives to virgin rubber is driving this segment’s expansion. Industries such as manufacturing and defense are incorporating high-performance recycled rubber into components such as seals, gaskets, and vibration-damping systems due to its enhanced durability and sustainability benefits. Advances in devulcanization technologies have further improved the quality of recycled rubber, making it increasingly comparable to virgin rubber in terms of elasticity and strength. In response to global efforts to reduce reliance on fossil-based materials, companies are investing in advanced recycling technologies to meet rising demand for sustainable rubber solutions.
• By application, the building & construction segment dominated the market with a 42.64% revenue share in 2024. At the same time, the automotive industry is rapidly increasing its use of recycled tire materials as part of broader circular economy initiatives. Leading automakers are integrating recycled rubber and carbon black into tires, underbody parts, and interior components to reduce environmental impact while maintaining performance standards. Regulatory requirements related to emissions and sustainable sourcing, along with growing consumer demand for eco-friendly vehicles, are further supporting the adoption of tire-derived materials across automotive supply chains.

Market Size & Forecast

• 2024 Market Size: USD 6.87 Billion
• 2030 Projected Market Size: USD 8.46 Billion
• CAGR (2025-2030): 3.71%
• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights

The tire recycling market is highly competitive, with several prominent players shaping industry dynamics. Key companies include Davis Rubber Company Inc., TIRE DISPOSAL & RECYCLING LLC, Tyre Recycling Solution, Liberty Tire Recycling, Genan Holding A/S, ResourceCo, GRP LTD, and Lehigh Technologies, Inc. Market participants are actively investing in research and development to improve the performance, cost efficiency, and environmental sustainability of recycled tire products. Continuous innovation and capacity expansion remain central strategies for maintaining competitiveness and supporting long-term market growth.

Key Players

• Davis Rubber Company Inc.
• TIRE DISPOSAL & RECYCLING LLC
• Tyre Recycling Solution
• Liberty Tire Recycling
• Genan Holding A/S
• ResourceCo
• GRP LTD
• Lehigh Technologies, Inc.

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Conclusion

The global tire recycling market is experiencing steady growth, driven by increasing demand for sustainable construction materials, expanding use of recycled rubber in high-value applications, and strong support from government and private-sector initiatives. Technological advancements in recycling processes are enhancing product quality, enabling recycled rubber to compete effectively with virgin materials across multiple industries. With Asia Pacific leading the market and industries such as construction and automotive increasingly embracing circular economy practices, the tire recycling market is well-positioned to reach USD 8.46 billion by 2030, growing at a CAGR of 3.71% over the forecast period.