Tire Retreading Market - By Vehicle Type (Passenger Cars, Commercial Vehicles), By Tire Type (Radial, Bias, Solid), By Sales Channel (OEM, Independent Retreaders), By Process (Pre-cure, Mold-cure), By End User & Forecast, 2023 – 2032

Tire Retreading Market Size

Tire Retreading Market 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. The market is growing due to increasing investments in retread tire plants. As industries recognize the economic and environmental benefits of retreading, they invest in advanced facilities. For instance, in May 2023, Bridgestone Americas announced retread tire plant expansion in Abilene, Texas. This investment aims to meet the growing demand for sustainable tire solutions, boosting the industry expansion. The expanded plant will contribute to enhanced production capabilities, offering more retreaded tires to meet the market's increasing needs.
 

Automation is driving the overall market growth by streamlining production processes. Automated equipment including advanced machinery for tire inspection, buffing, and tread application enhances efficiency and precision. For instance, in February 2023, Bridgestone launched a new Bandag Buffer 8550E, which is a fully automatic retreading machine aimed at overcoming the key challenge of adopting and optimizing automation in the industry. The advanced machine streamlines the retreading process, addressing efficiency concerns. By automating critical steps such as buffing, Bandag enhances productivity, reduces labor dependency, and fuels the industry's evolution toward more automated & efficient retreading solutions. Additionally, tire changing machines play a crucial role in the tire retreading process, ensuring efficient and accurate removal and mounting of tires. As the demand for tire retreading grows, the demand for tire changing machines is expected to increase as well.
 

The tire retreading industry faces challenges due to the varying quality of used tires. Inconsistent conditions of collected tires can impact the retreading process, leading to quality variations in the final retreaded products. Ensuring a consistent supply of high-quality used tires is crucial for maintaining the integrity & reliability of the retreading process and for addressing concerns related to the performance & longevity of retreaded tires in the market.
 

COVID-19 Impact

The COVID-19 pandemic disrupted the tire retreading market as lockdowns, supply chain disruptions, and economic uncertainties impacted the automotive industry. Reduced vehicle usage led to a decline in tire replacements, affecting the demand for retreading. Additionally, lockdown measures affected production and distribution, creating challenges for retreaders. However, as economic activities gradually resumed, the demand for retreaded tires increased, driven by a focus on cost-effective and sustainable solutions.
 

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.
 

Tire Retreading Market Analysis

Based on sales channel, the market is divided into OEM service providers and independent retreaders. The independent retreaders segment is expected to grow at a CAGR of around 5% during the forecast period and is anticipated to thrive in the tire retreading industry as businesses increasingly recognize the economic & environmental advantages. Independent retreaders offer personalized services and competitive pricing, attracting a diverse customer base. Moreover, the flexibility and agility of independent operations allow for quick adaptation to market demands. As sustainability and cost-effectiveness become important, independent retreaders are well-positioned to cater to the evolving preferences of businesses and consumers, driving segment growth. For instance, in July 2022, Hankook launched the updated Alphatread hot cure retread operation. This retreading business for commercial vehicle tires aligns with Hankook's commitment to environmental responsibility by extending tire life, reducing waste, and promoting a more sustainable approach to tire management in the commercial transportation sector.
 

Based on process, the market is categorized into pre-cure and mold-cure. The pre-cure segment was valued at over USD 3 billion in 2022 and is poised for growth over the forecast period due to its cost-effectiveness and consistent quality. Pre-cure retreading involves applying a pre-vulcanized tread to a tire casing, offering efficient and standardized production. This method ensures precise tread application, resulting in reliable and durable retreaded tires. As businesses prioritize economical and reliable solutions, the pre-cure segment is expected to expand, meeting the demand for high-performance, cost-efficient & environmentally sustainable retreaded tires.
 

Asia Pacific held a dominant market share of over 40% in 2022 and is poised for substantial growth over the forecast period due to growing industrialization and a surge in commercial activities. The rising demand for cost-effective and sustainable tire solutions, coupled with stringent environmental regulations, propels the adoption of retreaded tires. The region's focus on its reducing carbon footprint aligns with the eco-friendly aspects of retreading. As awareness grows and economic activities expand, the Asia Pacific industry is anticipated to witness significant development and market penetration.
 

Tire Retreading Market Share

The major players operating in the tire retreading industry are:

• 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.
• TreadWright Tires
   

Bridgestone Corporation and Goodyear Tire and Rubber Company are the prominent players in the tire retreading business due to their innovative & versatile offerings. These players are focusing on enhancing product quality, expanding their retreading facilities, and adopting innovative technologies to improve efficiency and reduce environmental impact. They are also expanding their marketing efforts to raise awareness of the cost-effectiveness and sustainability benefits of retreading tires.
 

Tire Retreading Industry News

• In October 2023, Michelin launched the new X One Line Energy D2 Pre-Mold tire to enhance the total cost of ownership through improved rolling resistance. By optimizing this critical factor, the tire contributes to increased fuel efficiency, ultimately reducing the operational costs for businesses.
   

The tire retreading market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Vehicle Type

• Passenger cars
• Commercial vehicle
  • Light commercial vehicle
  • Heavy commercial vehicle

Market, By Tire Type

• Radial
• Bias
• Solid

Market, By Sales Channel

• OEM service providers
• Independent retreaders  

Market, By Process

• Pre-cure
• Mold-cure

Market, By End-User

• Transportation & logistics
• Construction & mining

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa