Taking a step towards sustainability, Michelin has decided to launch a construction site to recycle everything in a tire for reuse with Enviro developed patented technology.

Based in Chile’s Antofagasta region, the tire recycling plant will be able to recycle 30,000 tons of earthmover tires a year, which nearly accounts for 60% of such tires scrapped nationwide. The construction work is set to commence in 2021, with production scheduled to resume in 2023. Michelin is ready to invest more than USD 30 million dollar for the construction of new-generation end-of-life processing plant based on Environ’s technology.

The technology will enable everything in an end-of-life tire to be recovered for reuse, producing high-quality reusable materials like carbon black, pyrolysis oil, gas and steel. 90% of the recovered product would be reused in a variety of rubber-based products such as tires, conveyor belts, and anti-vibration products and the other 10% will be reused directly by the plant for generation of heat and power. From collecting end-of-life tires to reusing the recovered raw materials for the manufacture of new products, the initial recycling plant will enable Michelin to offer a comprehensive recycling solution.

The comprehensive solution developed by Michelin is fully aligned with the Group’s commitment to incorporate an increasing amount of sustainable materials in its tires. Michelin has positioned itself as a unifying force for developing innovative partnerships understanding the need to develop new forms of cooperation across a diverse range of technological disciplines.

On the recent development, Vice President, Marketing & Business Development commented, “Thanks to this joint venture with Enviro, we are very proud to announce the construction of the Michelin Group’s first recycling plant. This is a major milestone that will enable us to offer customers a new-generation recycling solution, while developing new business for the Group. We are currently in talks with several Chilean mining customers to sign long-term contracts. By scaling up Enviro’s technology, we are offering them a solution that will support their environmental objectives and enables the development of a circular economy.”

TechSci research said, “Scrap tires can also become a valuable resource if recycled properly. The tires that meet a certain criteria can be remoulded with new treads and sidewalls to create new cost-effective tires. Remoulded tires can withstand rigors of daily use and carry warranties similar to new tires. Sustainability is one of the major challenges for the tire industry, and working towards it will only boos the global tire market growth.”

According to TechSci Research on, “Global Tire Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler, Three Wheeler and OTR), By Demand Category (OEM vs. Replacement), By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2013 – 2025F”, the global tire market stood around 2,240 million units in terms of volume and is expected to grow at a moderate pace during forecast period and cross 2,740 million units by 2025. Factors driving demand for automobile tires include rising tire sales from OEMs on the back of increasing production of vehicles with various technological advancements in automotive industry, shifting demand towards better lifespan, light weight, environmental-friendly tires, coupled with growing tire sales in the replacement segment across the globe owing to continuous increase in the vehicle fleet size.

According to TechSci Research on “Global Tire Pressure Monitoring System Market By Technology (Direct Tire Pressure Monitoring System & Indirect Tire Pressure Monitoring System), By Vehicle Type (Passenger Vehicle & Commercial Vehicle), By Sales Channel (OEM & Aftermarket), By Region, Competition, Forecast & Opportunities, 2024”, Global tire pressure monitoring system market is projected to grow from $ 4.78 billion in 2018 to $ 13.13 billion by 2024, exhibiting a double-digit CAGR of over 21% during the forecast period, backed by safety regulations and norms imposed by governments across the globe. Automotive Tire Pressure Monitoring Systems (TPMS) are active safety systems that help to monitor vehicle pressure by using pressure sensors. Moreover, the system provides crucial information related to the number of tires that are underinflated. Additionally, properly inflated tires help in reducing the number of accidents which are caused by poor condition of tires. The system displays the real time information to the driver in the form of pictogram.