USTMA finds that recycling of end-of-life tires has stalled

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While tires remain one of the most recycled products in the U.S., end-of-life markets are not keeping pace with the annual generation of scrap tires, a new report released by the U.S. Tire Manufacturers Association (USTMA) reveals.

The 2019 Scrap Tire Management Report – USTMA’s 14th – reveals that almost 76% of scrap tires were recycled in products such as rubber modified asphalt, the manufacturing of automotive products and mulch for landscaping and other products, and tire-derived fuel in 2019. This is down from 96% in 2013, when scrap tire recycling peaked.

“Three decades after we successfully eliminated 94 …

Read the source article at Traction News

Bridgestone’s Ferrari Talks Tire Demand, Future Mobility and More

Ferrari shares his take on the state of the North American tire market and Bridgestone’s sustainable mobility plans. He also discusses the role independent tire dealers will continue to play in the company’s progress, the most significant challenges facing tire manufacturers over the next few years and other topics.

Read the source article at Modern Tire Dealer

Continental to Expand Structural Program and Save More than One Billion Euros Per Year

Hanover, September 1, 2020. Continental is expanding the Transformation 2019–2029 structural program it initiated in 2019 with additional measures to cut costs and increase efficiency. … As announced today in Hanover, the goal is to achieve gross annual savings now totaling more than €1 billion from 2023 onwards. The Hanover-based company is thus further increasing its previous savings target, which it has already announced on several occasions, by slightly more than €500 million. 

Read the source article at continental.com

Michelin is demonstrating resilience through an unprecedented crisis

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124,000 125,400 1 Free cash flow: net cash from operating activities less net cash used in investing activities, adjusted for net cash flows relating to other financial assets, before distributions. 2 At period-end. Covid-19: impact of the health crisis on the Group’s financial position at June 30, 2020 Review of the information released by the Group during the first six months of the year On February 10, 2020, the Group issued its guidance for 2020 excluding any impacts from a systemic crisis caused by Covid-19. On March 18, 2020 at 6:10 pm CET, the Michelin Group …

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TIA and GfK to hold webinar on COVID-19 and what’s next for tire retail

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The Tire Industry Association (TIA) and market research firm GfK US will hold a webinar about what comes next for the U.S. retail tire marketplace as the nation begins reopening from the coronavirus lockdowns.

“Beyond the Crisis: A Roundtable on COVID-19 and What’s Next for Tire Retail,” will take place Monday, June 22, at 2 p.m. EDT. To register, go to https://insights.gfk.com/covid-19-gfk-tia-tires-webinar-2.

Read the source article at Traction News

Total U.S. Aftermarket Forecast to Decline 8.8% But Expected to Rebound in 2021

RESEARCH TRIANGLE PARK, N.C. and Bethesda, Md. – June 5, 2020 – Total U.S. automotive aftermarket sales are forecast to decrease 8.8 percent in 2020 as a result of the impact of the COVID-19 pandemic and related factors, according to the “2020 Joint Channel Forecast Model” produced jointly by the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA). The 2020 Joint Channel Forecast Model also predicts that total light duty aftermarket sales will grow from $281 billion in 2020 to $314 billion in 2021.

Read the source article at autocare.org

Airless Tires Market Revenue to Cross USD 45 Million by 2026: Global Market Insights, Inc.

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Sverige Airless Tires Market Revenue to Cross USD 45 Million by 2026: Global Market Insights, Inc. Latin American airless tires market is likely to witness a growth of around 5% during the forecast timeframe, owing to favorable trade policies, along with foreign direct investment inflows in the region. 

Read the source article at PR Newswire

Pirelli expects 19% decline in global passenger car tire demand

Milan, Italy – Pirelli & C. SpA estimates the overall car tire market to decline 19% in the year 2020, as a result of the Covid-19 global pandemic.

“In light of the elements available today and based on a prudent scenario, Pirelli now expects a fall of 2020 GDP at the global level of about negative 2.8%,” the company said in a statement 3 April.

The figure compares against an earlier forecast of 2.7% growth presented in the company’s Industrial Plan 19 Feb.

Read the source article at European Rubber Journal

Michelin gauges tire market decline

Clermont-Ferrand, France – Tire market data as of 29 Feb shows that the Covid-19 crisis has led to a 9% year-on-year decline in the global passenger car and light truck tire market, Michelin has reported.

Meanwhile, worldwide demand for truck tires was down 16% over the first two months of this year as a result of pandemic, according to the French tire group.

Read the source article at European Rubber Journal

Rubber, tire industries deals with uncertainty from coronavirus

Like everyone else, tire and rubber companies and their employees face uncertainty as the world seeks effective responses to the coronavirus.

It’s now been months since the health crisis emerged from Wuhan, China, first gripping a large swath of that country before moving overseas and creating what the U.S. Centers for Disease Control and Prevention said is the likelihood of a pandemic. The risk is still low in the U.S., despite reports of cases in several states and deaths now occurring on domestic soil.

Read the source article at Rubber and Plastics News