According to a recent research published by Future Market Insights, the worldwide market for retread tires is valued at US$ 8,684.9 Mn by the end of 2018 and is expected to grow at CAGR of 4.6% during the assessment period of 2018-2028. China will be the dominant market for retread tires with the highest market value share of approx. 29.6% by the end of 2018 and will continue its dominance throughout the assessment period. In the global retread tires market, the commercial heavy vehicles segment is projected to increase with a significant CAGR with regard to volume as well as value over the forecast period.
Innovations in Retread Tires
As technology is evolving, retard tires is continuing to advance alongside other shipping tech. Tire retreading has occurred for about a century ago, and today every year is bringing improvements by introducing easy methods of retreading, improved results for owners and better lifespans. Today is no different. Retard tires are getting better day by day, with even more benefits to fleet managers and owners.
The novel and technological improvements in retread tires are as follows-
Automation has already made its way into tire retreading, and it is improving both quality and speed of the finished product. In the past, there were a number of processes that ought to be done by hand such as performing QC inspection or rub away the old tread. Today, this can now be done as part of automated processes. However, there are some processes like the Michelin, who have more automation compared to others.
Better Quality Control
With automation there is a solid improvement in sensors used for computer systems. Though retread tires are still inspected visually, the computer systems are mainly used for producing higher quality retread tires. For instance, a sensor on the buffer to make sure that proper buff depth and radius based on individual information from the tire.
Better and Improved Synthetic Rubber
Basically, one of the biggest problems with retread tires, is their rubber. The rubber used to make retread tires is a petroleum-based product, which means they are not eco-friendly. The prices of retread tires can also fluctuate together with other petroleum-based products. This is the only reason many companies are investing in better and improved synthetic rubber. Year-by-year, new formulations are introduced to find ways in order to replace more natural rubber with synthetics. The additional advantage of synthetic rubber is that it increases the durability of the tire.
Superior Warranty Guarantees
It is quite surprising for some people to know that the huge majority of tire retreading operations are openly associated with a key tire manufacturer, Michelin. Retreading is enthusiastically embraced as a cost cutting measure toll by tire companies. The tire companies have now started offering warranties that are identical to what new tires get and it also includes tires which are already for multiple times. They are offering full manufacturers’ warranties on all retread tires.
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