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Tire Retreading Market Trends

  • Report ID: GMI7550
  • Published Date: Nov 2023
  • Report Format: PDF

Tire Retreading Market Trends

The emphasis on sustainability is an emerging trend in the tire retreading industry. Retreaded tires contribute to environmental conservation by extending the lifespan of tires, reducing the demand for new raw materials. For instance, in May 2023, Continental Tires collaborated with Indag Rubber to promote retreading and raise awareness about its viability in extending tire life. The partnership aimed to emphasize the economic and sustainable benefits of retreading, encouraging a shift toward this environmentally friendly solution in tire management practices. As businesses and consumers increasingly prioritize environmental responsibility, the adoption of retreaded tires becomes a tangible step toward reducing the environmental footprint associated with tire production and disposal.
 

The global market is evolving through technological advancements and automation, fostering a more efficient and precise production landscape. Innovations such as fully automatic retreading machines represent a transformative shift, streamlining the key processes with enhanced speed and accuracy. Automation not only reduces labor dependency but also ensures consistent quality across retreaded tires. This trend reflects a commitment to embracing cutting-edge solutions, boosting productivity and meeting the growing demand for high-performance retreaded tires in a competitive market driven by efficiency & precision.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for tire retreading was valued at USD 5.8 billion in 2022 and is projected to grow at a CAGR of over 5.5% between 2023 and 2032 due to increasing investments in retread tire plants.

The independent retreaders segment is expected to record around 5% CAGR from 2023 to 2032 as they offer personalized services and competitive pricing, attracting a diverse customer base.

Asia Pacific market size for tire retreading was over 40% in 2022 and will grow significantly through 2032 due to growing industrialization and a surge in commercial activities.

Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, KRAIBURG Austria GmbH & Co. KG, Marangoni S.p.A., Michelin, Rethread (Pty) Ltd., Southern Tire Mart, Sumitomo Rubber Industries, Ltd., and TreadWright Tires.

Tire Retreading Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 380
  • Countries covered: 20
  • Pages: 293
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