How Profitable Is Tire Recycling: Unveiling The Green Business Potential

Can you generate income from scrap tires? Indeed, repurposing used tires not only contributes to eco-friendliness by giving old materials a fresh purpose but also presents a lucrative opportunity to establish your own business. On April 6th, 2023, we’ll delve into the various products that can be crafted from recycled tires and explore how you can kickstart your entrepreneurial journey in this environmentally-conscious industry.

What is the current size and future growth potential of the tire recycling market? Let’s delve into the data:

As of the base year 2022, the tire recycling market stood at $12.9 billion. Fast forward to 2032, and the market is projected to expand significantly, reaching a size of $18.1 billion. This translates to a Compound Annual Growth Rate (CAGR) of 3.4%. These figures indicate a promising trajectory for the tire recycling industry, highlighting its potential for sustainable growth. [Additional context: This data was last updated on August 14, 2023.]

Is tire recycling a profitable industry in the UK? According to industry forecasts, the revenue of tire and rubber recycling companies is projected to experience steady growth at a compound annual rate of 1.7% over the five-year period ending in 2022-23. By the end of this period, the industry is expected to generate approximately £906.3 million in revenue, with an anticipated average profit margin of 5.4%. These projections provide insights into the financial prospects of tire recycling in the UK as of March 31, 2023.