Theglobal tire derived fuelmarket isexpected to witness a steady but slow growth in the near future. The market isexpected to ride a wave of hope and optimism as instability in fuel producingcontinue to experience instability, driving higher prices. The global tirederived fuel market is also witnessing brighter prospects, thanks to growingdemand for energy efficiency and conventional fuel usage. Some key players inthe global tire derived fuel market are Liberty Tire Recycling, Ragn-SellsGroup, Lakin Tire West Inc., ResourceCo Pty Ltd., Emanuel Tire, Renelux CyprusLtd.
Thetire derived fuel or TDF is a product of various kinds of scrap tire material.Such scrap usually includes uniforms pieces of junk tires which meet theexpectation of end-industries. These can be in the form of pulp, cement kilns,paper mills, and electric utilities. These tires help end-use industries lowercosts, improve boiler efficiency, and reduce air emissions. According to recentestimates by the Environmental Protection Agency, or the EPA, the TDF raises equivalentamount of output to oil. It also produces nearly 20% to 50% more energy ascompared coal. Moreover, it can double the output of energy produced fromwood.
Theglobal tire derived fuel market evaluation stood at US$342.4 mn in 2017. Themarket is expected to clock a steady CAGR of 2.9% during 2018-2026. Amongvarious end-use applications in the market, the cement manufacturing isexpected to register the highest demand during the forecast period. Currently,cement manufacturing companies consume as much as over 300,000 tons of coal perfacility per year. The raw produce in the tire derived fuel market is expectedto supplement this consumption in the near future. Among various regions, AsiaPacific is expected to lead demand for TDF in the near future. In Asia, Japanaccounted for over 30% market share, while producing over 1 million scrap tyresin 2017. The growing demand in the region and increasing environmentalregulations are major positives for the tire derived fuel market in the nearfuture.
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EnvironmentalConcerns to Drive Major Growth
TDFproduces considerably low emissions, when produced at a well-controlledfacility. Additionally, the fuel reduces dependence on fuels and is reasonablypriced for a wide-scale commercial application. Moreover, in 2003, EUregulators mandated companies to find new ways to reduce landfill reserves ofscrap tires. The limited capacity of landfills and the environmental pollutioncaused due to scrap tires are expected to keep the regulators vigilant in thenear future. Furthermore, TDF has the same heating value to that of coal,usually around 13,000 to 15,000 BTUs or British Thermal Units. Long fuelresidence time and high temperatures are expected to drive considerably higherdemand in the tire derived fuel market in the near future.
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LowRecovery Rate to Pose a Challenge to Growth
Regionslike Asia Pacific are witnessing a major growth in the automobile industry.Growing population, introduction of various automobiles, and rise in disposableincome are expected to drive major growth for the industry in the near future.However, the region is also witnesses low-recovery rates of scrap tires,limiting its application. While government regulations are becomingincreasingly stringent, these are still not on par with their counterparts inEurope and North America. However, growing awareness about the scrap tyre wastein landfills, and strong demand in the auto industry across developed regionsdue to trends like automated car are expected to result in significantopportunities in the near future. The tire derived fuel market is expected towitness a growing opportunity, thanks to advanced manufacturing techniquesalready available in countries like Japan.
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