What is Global Retread Tyres Market?
The Global Retread Tyres Market refers to the sector of the automotive industry that focuses on the process of reconditioning used tyres to make them serviceable again. This market is significant because it offers a cost-effective and environmentally friendly alternative to purchasing new tyres. Retreading involves inspecting and repairing tyres that have worn treads but are otherwise in good condition. The process includes buffing away the old tread, applying a new tread through a specialized process, and curing the tyre to adhere the new tread securely. This practice not only extends the life of tyres but also significantly reduces waste and the need for new raw materials, contributing to environmental sustainability. The market for retread tyres is driven by the demand from commercial and passenger vehicle sectors, where the cost savings and the reduced environmental impact of retread tyres are highly valued. As of now, this market is experiencing growth due to the increasing awareness and acceptance of retread tyres among vehicle owners worldwide.
Pre Cure, Mold Cure in the Global Retread Tyres Market:
In the Global Retread Tyres Market, two primary methods are employed for retreading tyres: Pre Cure and Mold Cure. The Pre Cure method involves applying a pre-cured tread strip to the buffed and prepared tyre casing. This tread strip has already been vulcanized with the tread pattern on it. The tyre is then placed in a chamber where it is subjected to heat and pressure, causing the pre-cured tread to bond to the tyre casing. This method is known for its versatility and is widely used because it allows for a wide range of tread patterns to be applied to the tyre. On the other hand, the Mold Cure method involves applying raw rubber to the prepared tyre casing, which is then placed in a mold. Heat and pressure are applied, causing the raw rubber to vulcanize and form the tread pattern directly on the tyre. This method is often used for tyres that require specific tread patterns that are not available in pre-cured form or for larger tyres where the precision of the tread pattern is critical. Both methods have their advantages and are chosen based on the specific requirements of the tyre being retreaded. The choice between Pre Cure and Mold Cure methods affects the quality, performance, and cost of the retreaded tyres, making it a crucial aspect of the Global Retread Tyres Market.
Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars, Others in the Global Retread Tyres Market:
The Global Retread Tyres Market finds its application across various vehicle segments, including Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars, and Others. In Heavy Commercial Vehicles, retread tyres are extensively used due to their ability to withstand heavy loads and long-distance travel, offering a cost-efficient solution without compromising on safety or performance. Light Commercial Vehicles also benefit from retread tyres, as these vehicles require durable and reliable tyres for frequent short-haul trips, making retread tyres a preferred choice for businesses looking to reduce operational costs. Passenger Cars are increasingly adopting retread tyres, driven by the growing consumer awareness about their environmental benefits and cost-effectiveness, although the penetration in this segment is relatively lower compared to commercial vehicles. The 'Others' category includes off-road vehicles, agricultural machinery, and aircraft, where retread tyres are valued for their durability and performance in challenging conditions. The usage of retread tyres across these diverse segments underscores their versatility and the significant role they play in promoting sustainable practices in the tyre industry.
Global Retread Tyres Market Outlook:
The market outlook for Global Retread Tyres has shown a promising trajectory. As of 2023, the market was estimated to be worth around US$ 5726 million. Looking ahead, projections suggest a growth to approximately US$ 6491.2 million by the year 2030. This growth is expected to occur at a compound annual growth rate (CAGR) of about 2.0% throughout the forecast period spanning from 2024 to 2030. This positive outlook is indicative of the increasing acceptance and demand for retread tyres across various sectors, driven by the dual benefits of cost efficiency and environmental sustainability. The retread tyre market's growth reflects a broader trend towards more sustainable practices within the automotive industry, as both consumers and businesses seek to reduce waste and conserve resources. This forecast underscores the potential for the retread tyre market to expand its footprint globally, offering a viable and eco-friendly alternative to new tyres.
| Report Metric | Details |
| Report Name | Retread Tyres Market |
| Accounted market size in 2023 | US$ 5726 million |
| Forecasted market size in 2030 | US$ 6491.2 million |
| CAGR | 2.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Bridgestone, Michelin, GoodYear, Marangoni, Continental, Sumitomo, Toyo Tire, Yokohama |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
