India, Aug. 22 -- The global tyre recycling market is forecast to grow to USD 8.92 billion by 2029 from USD 7.44 billion in 2024, driven by mounting volumes of end-of-life tyres (ELTs), tighter environmental regulations and rising demand for sustainable materials, according to research firm MarketsandMarkets.

The market is projected to expand at a compound annual growth rate (CAGR) of 3.7 percent over the period, the report said.

According to the World Business Council for Sustainable Development, one passenger tyre per person is discarded annually in the developed world, contributing to about 1 billion ELTs globally each year. A 2022 study in ScienceDirect estimated some 4 billion ELTs are already stockpiled worldwide, a figure expected...