Tire Retreading Market Size, Share & Industry Analysis, By Type (Pre-Cure and Mold-Cure), By Vehicle Type (Commercial Vehicle and Off-highway Vehicle), By Tire Type (Radial, Bias, and Solid), and Regional Forecast, 2024-2032

The global tire retreading market size was valued at USD 10.97 billion in 2023. The market is expected to grow from USD 11.62 billion in 2024 to USD 19.73 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period.

The tire retreading market refers to the industry segment involved in the process of refurbishing worn-out tires, essentially giving them a new lease on life. Retreading involves carefully inspecting, repairing, and reapplying a new tread to a tire casing that has reached the end of its original tread life. This process is done to extend the usable life of the tire, reduce waste, and provide a more cost-effective alternative to purchasing new tires.

Retreading tires is typically more economical than purchasing new ones, making it a preferred option for commercial vehicle fleets and other heavy-duty applications. By extending the life of tires, retreading reduces the demand for new tire production and minimizes the environmental impact associated with tire disposal, such as landfill waste and resource depletion. Factors driving demand for retreaded tires include cost savings, environmental concerns, and reliable solutions in commercial transportation and logistics sectors.

The COVID-19 pandemic significantly affected various sectors of the economy, including the tire retreading market. During lockdowns and periods of restricted movement, demand for transportation services decreased significantly. This reduction in commercial activity, such as freight transportation and passenger travel, resulted in lower demand for tires, including retreaded tires.

Tire Retreading Market Trends

Technological Advancements in Retreading Process to Drive Market Growth

Continued advancements in automation and robotics are likely to streamline retreading processes, improving efficiency, precision, and consistency. Automated systems for buffing, tread application, and quality control can enhance productivity and reduce labor costs. Traditional buffing, which involves removing the old tread from the tire's surface, can be labor-intensive and time-consuming. Automated buffing machines equipped with robotic arms and precision tools can streamline this process, ensuring consistent buffing depth and surface preparation. This technological development drives tire retreading market growth. For instance, in February 2022, Bandag introduced a new fully automatic retreading machine, Buffer 8550E. By deploying the fully automated Bandag Buffer 8550E, retreaders can reduce the manual effort required even further, a measure the manufacturer says will increase overall productivity.

                                                                                                                                                     

Tire Retreading Market Growth Factors

Cost-Saving Benefits to Propel Market Growth

Tire retreading offers significant cost savings compared to purchasing new tires. The process involves refurbishing the existing tire casing by replacing the worn-out tread with a new layer of rubber. This results in a product that performs similarly to a new tire at a fraction of the cost. For commercial vehicle fleets, which often have high tire usage and maintenance costs, retreading offers substantial savings over the life of the vehicle. While the initial investment in retreading may be lower than purchasing new tires, the total cost of ownership is also significantly reduced. Retreaded tires can provide comparable performance and durability to new tires, allowing fleet operators to achieve similar mileage and reliability at a lower cost per mile or kilometer traveled.

Moreover, the growth of the tire retreading market is also attributed to the increasing number of partnerships between OEM tire makers and retreading companies. This factor is slated to drive the market during the forecast period. For instance, in May 2023, Continental Tires signed a partnership contract with Indag Rubber for the retreading of truck and bus radials. Continental Tires will provide a second-life warranty on NL casings in accordance with Conti Bharosa as part of the partnership, while Indag will provide a warranty on the retreading procedure and the tread rubber on the NL fleets.

RESTRAINING FACTORS

Limited Market Penetration May Restrain Market Growth

Despite the potential cost savings and environmental benefits of tire retreading, its market penetration remains limited in certain regions and industries. Factors, such as lack of awareness, limited availability of retreading facilities, and preferences for new tires can hinder the adoption of retreaded tires. In some cases, consumers and businesses may perceive retreading as a temporary or inferior solution, preferring to invest in new tires instead. Expanding market penetration requires targeted marketing efforts, investment in infrastructure, and partnerships with industry stakeholders to promote the benefits of tire retreading and address market barriers.

Tire Retreading Market Segmentation Analysis

By Type Analysis

Higher Efficiency and Productivity to Drive Pre-Cure Segment Growth

By type, the market is segregated into pre-cure and mold-cure. The pre-cure segment holds the largest market share and it is expected to grow at the highest CAGR during the forecast period. The pre-cure retreading process is known for its efficiency and productivity, enabling retreaders to produce a large volume of retreaded tires in a relatively short period. Thus, the higher efficiency and productivity of pre-cure drive the segment growth.

The mold-cure segment holds the second-largest tire retreading market share. The segmental growth is attributed to customization requirements and design flexibility. Mold-cure retreading offers flexibility in tread design and customization, allowing retreaders to tailor retreaded tires to specific performance requirements and applications.

By Vehicle Type Analysis

High Tire Wear and Replacement Frequency to Bolster Commercial Vehicle Segment Growth

Based on vehicle type, the market is segmented into commercial vehicle and off-highway vehicle. The commercial vehicle segment holds the largest market share globally. Commercial vehicles, such as trucks, buses, and trailers, operate under demanding conditions, including long-distance travel, heavy loads, and frequent stops and starts. As a result, tires on heavy commercial vehicles experience accelerated wear and tear, requiring more frequent replacement compared to other vehicles.

The off-highway vehicle segment held the second-largest market share in 2023. The high cost of new off-highway tires makes retreading an attractive option for extending their lifespan and maximizing their value. Retreading offers significant cost savings compared to purchasing new tires, allowing operators of off-highway vehicles to reduce operating expenses and improve profitability. The segmental growth can further be attributed to the rising adoption of retreaded tires due to low cost.

By Tire Type Analysis

Comfort and Ride Quality Enhances the Demand for Radial Tires

Based on tire type, the market is segmented into radial, bias, and solid. The radial segment holds the largest market share in 2023 and will depict the fastest-growing CAGR over the forecast period. Radial tires offer superior comfort and ride quality due to their flexible sidewalls and better shock absorption capabilities. This makes them preferred by many vehicle operators and fleet managers, leading to a larger market demand for retreaded radial tires. This drives the segmental growth of the market. In April 2024, Continental Tire inaugurated its Continental Retread Solutions Development Center in Rock Hill, S.C., aiming to enhance retread processes and advance technology.

The bias segment held the second-largest market share in 2023. Bias-ply tires are generally less expensive to manufacture compared to radial tires. This lower initial cost makes them more economical for certain applications, especially in industries or regions where cost management is critical. Moreover, bias-ply tires have a simpler construction compared to radial tires, which can make them easier and more cost-effective to retread. The retreading process for bias-ply tires is generally straightforward and well-established, contributing to their continued popularity in certain markets and fueling the segmental growth during the considered period.

REGIONAL INSIGHTS

The market is analyzed across North America, Europe, Asia Pacific, and the rest of the world.

Asia Pacific stood at USD 6.61 billion in 2023 and is anticipated to continue its dominance throughout the forecast period, with the fastest-growing CAGR. The region is experiencing rapid industrialization and urbanization, leading to increased commercial activities and transportation demand. This growth has resulted in a significant expansion of the commercial vehicle fleet, including trucks, buses, and delivery vehicles, which are major consumers of retreaded tires.

Europe holds the second-largest market share owing to its stringent environmental regulations, champions sustainable practices, and advocates for the reuse and recycling of materials. These regulations prioritize extending the lifespan of tires to mitigate waste and environmental harm. Tire retreading perfectly aligns with these sustainability objectives, providing a cost-effective method to prolong tire life and decrease the automotive industry's ecological footprint. As a result, there is a notable demand for retreaded tires in Europe, spurred by environmental consciousness and adherence to regulatory standards.

The increasing adoption of commercial transportation in North America fuels the demand for tire retreading in the market. Technological advancement in the region and higher vehicle sales, especially in the commercial vehicle (light and heavy commercial) segment, are anticipated to boost the demand for tire retreading for the efficient working of modern automobiles.

List of Key Companies in Tire Retreading Market

Companies Focus On Expansion of Product Portfolio and Sales Network to Gain a Competitive Edge

Major players in this market include Michelin, Bridgestone Corporation, and the Goodyear Tire & Rubber Company. The tire retreading manufacturers focus on expanding their product portfolio, sales network, and partnerships. Bridgestone is one of the leading tire retreading manufacturers. The company focuses on research and development to develop high-quality new products with improved capabilities. It also develops, manufactures, and distributes tool and equipment solutions worldwide.

LIST OF KEY COMPANIES PROFILED: 

• Bridgestone Corporation (Japan)


• Goodyear Tire and Rubber Company (U.S.)


• Marangoni SpA (Italy)


• Michelin SCA (France)


• Oliver Rubber Company (U.S.)


• Southern Tire Mart (U.S.)


• Parrish Tire Company (U.S.)


• Tread Wright (U.S.)


• Redburn Tire Company (U.S.)


• Continental (Germany)

KEY INDUSTRY DEVELOPMENTS:

• August 2023: Marangoni signed a contract with Volánbusz to supply a new Ringer 2000 machine. The new Ringer 2000 features Marangoni’s RingTread system to increase the standardization of components, and it is anticipated that it will enable an increase in productivity and reliability at the site.


• July 2023: Marangoni signed a contract with CEAT for truck and bus retreads in India. A strategic partnership between Marangoni and CEAT will provide tire retread solutions for the truck and bus sector in India. The companies intend to pair CEAT’s casings with Marangoni’s Ringtread technology designed with a splice-less retreading process to deliver tires with extended service life.


• January 2023: Continental introduced a service called the ContiCasingAccount for its tire dealers. This innovative program enables dealers to accumulate credit by depositing used casings from their truck customers into an account. Following successful testing with 28 dealers in Germany, Continental planned to expand the program to all interested tire dealers.


• July 2022: Oliver Rubber launched its latest drive position retread, the Vantage Max Drive II. The Vantage Max Drive II meets current SmartWay requirements for line-haul and regional applications and benefits from 26% more tread depth than its predecessor, the Vantage Max Drive.


• July 2022: Hankook introduced a hot-retreading factory in Germany. The new facility was set up due to increased demand following a series of multi-million-dollar investments by the tire maker. The hot-retreading production area is situated on a 2,000m2 plot that makes up part of the 15,000m2 facility.


• May 2022: Hankook and Vaculug signed an agreement for retreading in the U.K. Vaculug will use Hankook products as a premium fitment for all its fleets. The Hankook SmartLife Solutions concept highlights the benefits of hot retreading for fleet companies. All Hankook commercial vehicle tires are engineered to be regrooved, and their high-quality carcasses can be retreaded multiple times.

REPORT COVERAGE

The report provides a detailed market analysis and focuses on key aspects such as leading market participants, competitive landscape, and type. Besides this, it includes insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market's growth in recent years.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 6.8% from 2024 to 2032
Unit	Value (USD Billion)
Segmentation	By Type Pre-Cure Mold-Cure
By Vehicle Type Commercial Vehicle Off-highway Vehicle
By Tire Type Radial Bias Solid
By Region North America (By Vehicle Type, Type, and Tire Type) U.S.  (By Vehicle Type) Canada (By Vehicle Type) Mexico (By Vehicle Type) Europe (By Vehicle Type, By Type and By Tire Type) Germany (By Vehicle Type) U.K. (By Vehicle Type) France (By Vehicle Type) Rest of Europe (By Vehicle Type) Asia Pacific (By Vehicle Type, Type, and Tire Type) China (By Vehicle Type) Japan (By Vehicle Type) India (By Vehicle Type) Rest of the Asia Pacific (By Vehicle Type) Rest of the World (By Vehicle Type, Type, and Tire Type)