ACCORDING to UK-based Smithers Rapra’s recent market report , the global market for green tyres, which were characterised as optimised for low rolling resistance or which uses materials like elastomers derived from renewable resources, is forecast to hit US$70.6 billion by 2017.
For now, the largest sector of the green tyre market is for low rolling resistance tyres, defined as “energy tyres” in ‘The Future of Green Tires to 2017’ report.
The report evaluates the fast-growing market with qualitative and quantitative market forecasts, analyses, trends and drivers and estimates that more than 1.5 billion tyres , totaling US$160 billion are currently produced each year. The value is expected to reach nearly US$203 billion by 2017.
Escalating green issues specifically on greenhouse gas emissions and availability of resources are the main drivers behind this growth, as green tyres account for 35% of the total tyre growth over the projected period 2012-2017. (RJA)
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