While vehicles are becoming increasingly connected, autonomous, and electric, the evolution of tyres has been less conspicuous. In practically all units, rubber is key: the global rubber tyre market was valued at US$149bn in 2022 and could grow to US$194bn by 2029, according to Maximise Market Research valued. However, these products have a sustainability issue.
Natural rubber itself is a renewable material, but the US Tire Manufacturers Association calculates that this only accounts for 19% of the average passenger vehicle tyre composition. The rest is a mixture of non-recyclable fillers, reinforcers, and polymers created from crude oil. Rubber supply chains also feature long, carbon-intensive transportation routes and contribute to the growth of monoculture ‘green deserts’ as well as deforestation.
With market consultant Smithers estimating that 2.35 billion tyres were manufactured globally in 2021 alone, the scale of the problem is large and likely to grow larger.
