China's waste tire industry has tremendous room for development

According to statistics of the World Business Council for Sustainable Development, the recycling rate of waste tires in Europe, the United States, and Japan has continued to increase in the past decade, and it has now reached about 85%. The cost of recycling has also continued to decline because of technological innovation and the continuous expansion of industry scale. In the United States, Europe, and Japan, most of the used tires are recycled for children's play area equipment and road surfaces as well as traditional machine applications and fuel products.

According to institutional studies, the old tire recycling market in China has grown rapidly in recent years, and reached an industry scale of about US$100 million in 2013, and is expected to reach US$156 million in 2018. In China, 13% of old tires are recycled for used tire retreading, and 87% are used to generate recycled rubber.

The research institution conservatively estimates that in 2014, the growth rate of China's used tire recycling industry could reach 10.8%, and the growth rate last year was 13%, the largest increase over the years.

The agency said that the rapid growth of the old tire recycling industry indicates more and more business opportunities. With the introduction of more stringent environmental protection regulations, the developing country market will usher in more business opportunities.