February 22, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The recycling of used vehicle tires is a key component in a circular economy in which goods are recycled or repurposed. Rather than going to landfills or being dumped in areas where they can become breeding grounds for pests, old tires can yield chemicals such as recovered carbon black (rCB), which can be used for the manufacture of new tires, rubber products and other applications, saving the need to derive virgin carbon black from fossil fuels. Industrial Info is tracking nearly US$650 million worth of active projects involving tire recycling throughout the world. Because of strong activity in countries such as Belgium and Germany, Western Europe leads the globe in terms of the total investment value of these projects, with more than US$264 million in current or planned spending, followed by Northern Europe, with more than $150 million in spending.