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The global tire derived fuel market is expected to witness steady but slow growth in the near future. The global tire derived fuel market is witnessing brighter prospects, due to growing demand for energy efficiency and conventional fuel usage.
Tire 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 the expectation of end-industries. These can be in the form of pulp, cement kilns, paper mills, and electric utilities. These tires help end-use industries lower costs, improve boiler efficiency, and reduce air emissions. According to recent estimates by the Environmental Protection Agency, or the EPA, the TDF raises equivalent amount of output to oil. It also produces nearly 20% to 50% more energy as compared to coal. Moreover, it can double the output of energy produced from wood.
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The global tire derived fuel market stood at US$ 373.06 Mn in 2020. The market is expected to clock a steady CAGR of 2.9% during 2021-2031. Among various end-use applications in the market, cement manufacturing is expected to register the highest demand during the forecast period.
Research Methodology – Tire Derived Fuel Market
The research methodology adopted by analysts for compiling the tire derived fuel market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecast for the tire derived fuel market. During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the tire derived fuel market.
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Development and Innovation in Product and Technology in Tire Derived Fuel Market
Environmental Concerns to Drive Growth
TDF produces considerably low emissions, when produced at a well-controlled facility. Additionally, it reduces dependence on fuels and is reasonably priced for a wide-scale commercial application. In 2003, EU regulators mandated companies to find new ways to reduce landfill reserves of scrap tires. Limited capacity of landfills and environmental pollution caused due to scrap tires are expected to keep the regulators vigilant in the near 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 fuel residence time and high temperatures are expected to drive considerably higher demand in the tire derived fuel market in the near future.
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Global Tire Derived Fuel Market: Segmentation
Tire Derived Fuel Market by Type
Tire Derived Fuel Market by End-user
Tire Derived Fuel Market: Key Players
Key players operating in the global tire derived fuel market include Liberty Tire Recycling, Ragn-Sells Group, Lakin Tire West Inc., ResourceCo Pty Ltd., Emanuel Tire, and Renelux Cyprus Ltd.
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