India Tire Recycling Market Size Likely to Surpass at a CAGR of 3.51% By 2033

The India Tire Recycling Market was valued at USD 2.25 billion in 2024 and is expected to reach USD 3.05 billion by 2033, at a CAGR of 3.51% during the forecast period 2024 – 2033.

India Tire Recycling Market: Overview

Tire recycling converts tire waste and damaged tires into reusable materials. The Indian tire recycling industry is flourishing due to supportive government policies and an increasing emphasis on recycling and sustainable innovations.

Various factors, such as supportive government policies, increasing stringent regulations, growing investment in research and development activities, and growing innovations in recycling technologies, are mainly driving the market’s growth. These supportive initiatives and government policies include pyrolysis, devulcanization, and recycling into innovative products like rubber tiles and road construction materials.

However, factors such as the high cost of recycling, the lack of skilled expertise to handle tire recycling operations, market volatility, economic uncertainty, and less awareness about the recycling process are mainly restraining the market’s growth.

The increasing number of scrap tires is expected to create lucrative opportunities for the market during the forecast period. India is the third-largest passenger car market globally, and the continuous increase in urbanization and motorization is increasing the scrap of tires in India.

Thus, the growing number of tires discarded creates health and environmental problems, which in turn drives the demand for tire recycling. The invention of tire recycling has thus become an essential industry. It has many positive aspects, including transforming refuse into resources and reducing pollution.

The Indian government has acknowledged the environmental risks which tire waste entails and has passed several regulations for tires being disposed of in an ecological way, and recycling. A major policy introduced in 2022 to facilitate tire recycling is the EPR (Extended Producers Responsibility) principle.

For example, under the EPR process, tire manufacturers and importers must recycle all end-of-life tires, which forces them to behave as responsible stewards of the waste produced by their products. The EPR system, in concert with the current Free Market System (FMS), seeks to enhance how waste tires are handled and lead to better recycling of used tires.

The government has classified tire pyrolysis units into red, green, and orange, and many units have been shut down for not meeting the standards. Upgrading the pyrolysis plants with the latest technology is essential since it would reduce emissions and ensure that this sector maintains an eco-friendly operation.

The India Tire Recycling Market is dominated by the shredding category by process, driven mostly by the country’s expanding infrastructural projects. Shredded tire materials, particularly Crumb Rubber Modified Bitumen (CRMB), are becoming increasingly used in road building because of their durability and environmental benefits.

CRMB increases asphalt quality, making roads more durable and emitting less carbon than conventional materials. The government’s emphasis on sustainable practices and mandatory recycling rules increases demand for shredding, as manufacturers are urged to employ recycling techniques that are both environmentally and economically beneficial.

By application, the automotive application dominated the Indian tire recycling market and is expected to keep its dominance during the forecast period owing to growing automotive production across India. The increasing sales of passenger vehicles are increasing the consumption of tires in automotive wheels, thereby increasing automotive tire waste. Thus, growing tire wastage is propelling the demand for tire recycling due to increasing stringent regulations and growing environmental concerns.

The construction industry is expected to grow at the fastest CAGR during the forecast period due to the widespread use of crumb rubber modified bitumen (CRMB) in road construction.

Government funding and legislation that encourages sustainable road building have increased its adoption. Growing usage recycled materials are used in the vehicle and rubber product industries, the construction industry takes the lead due to large infrastructure projects and environmental concerns.

Report Scope

CMI has comprehensively analyzed the India Tire Recycling market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth market scenario. Segment-wise market size and market share during the forecast period have been duly addressed to portray the probable picture of this industry.

The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

List of the prominent players in the India Tire Recycling Market:

• Apollo Tyres Ltd
• Bridgestone Corporation (Bandag LLC)
• Continental AG
• Liberty Tire Services LLC (Lakin Tire)
• Emanuel Tire LLC
• Genan Holdings A/S
• Green Distillation Technologies Corp. LTD
• Fornnax Technology Private Limited
• TVS TREAD
• Sun Exim
• reRubber LLC.
• Entech Inc.
• Michelin Group S.A.
• Liberty Tire Services LLC (Lakin Tire)
• Green Distillation Technologies Corporation LTD.
• Tire Recycling Solutions SA
• GRP Ltd
• Others

The India Tire Recycling Market is segmented as follows:

By Process

• Pyrolysis
• Shredding
• Refurbishing

By Product

• Tire Derived Fuel
• Crumbed Rubbers
• Refurbished Commercial Vehicle Tires
• Others

By Application

• Manufacturing
• Construction
• Rubber Products
• Automotive
• Others