Rolling Towards Sustainability: Green Tire Market Paving the Way for Eco-Friendly Innovation
Green tires are produced from renewable materials such as nylon rubber through a process that does not require an excessive amount of energy. These tires have low rolling resistance, which helps in decreasing fuel consumption. The major factors responsible for the growth of the market are increase in sales of commercial vehicles and passenger cars, as well as the demand for environment friendly and fuel-efficient tires. The manufacturing process and materials utilized in developing traditional tires cause high levels of pollution and are sourced from unsustainable resources. Some of these materials include rubber and petroleum-based substances that are added to traditional tires.
Market Size
The global green tire market size was valued at $35.4 billion in 2021, and is projected to reach $80.6 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.
Green tires are manufactured in additional energy efficient ways and are planned for lower rolling resistance, which leads to lower fuel consumption over the life of the tire. Green_tire also uses highly dispersible silica, developed carbon blacks or nanotechnology to attain the smallest possible rolling resistance. Silica helps in the reduction of rolling resistance or the energy lost as the tire deforms against the road. In addition, green tires are made from more sustainable and recycled_materials. Carbon dioxide emission levels are directly affected by vehicles fuel consumption.
The factors such as government regulation & economic drivers, increase fuel efficiency, and reducing rolling resistance supplement the growth of the green tire market. However, lack of awareness about green tire and structural limitation is projected to impede future adoption.. In addition, adoption of eco-friendly tire across the automotive industry and technological #advancements in automotive sector create market opportunities for the key players operating in the green_tire_market
With the increased price of fuels used in vehicles, the demand for low rolling resistance technology to be used in vehicles has increased. This has created an increased_demand for technology efficient tire to be used among vehicles which has supplemented the growth of the green tire market across the globe.
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