LEATHERHEAD, England—The global market for "green" tires is forecast to reach $70.6 billion by 2017, according to a new market study by Smithers Rapra.
Green tires—which feature low rolling resistance, and often use materials, especially elastomers, derived that are renewable resources. Thee largest sector of the green tire market is for low rolling resistance tires, the report, The Future of Green Tires to 2017, said.
Smithers Rapra said that more than 1.5 billion tires are produced annually, with a value of about $160 billion, and that should rise to $203 billion by 2017. The rise of green issues such as greenhouse gas emissions and availability of resources are the primary drivers behind this growth, as green tires accounts for 35 percent of the total tire growth over the forecasted period 2012-2017, the report said.