Michelin retained the title of the world’s most valuable and strongest tyre brand in the Brand Finance Tyre 10 ranking for 2021.

According to Brand Finance, the tyres sector had taken a hit last year due to the pandemic, and all brands in the Brand Finance Tyres 10 ranking have lost brand value.

Owing to the lack of travel due to lockdowns, car sales are declining, which means tyre brands are selling fewer units, resulting in a drop in market equity across the industry. Furthermore, since the economy has been riskier in general over the past year, investor risk has increased, triggering a rise in capital cost.

Brand Finance said despite the sector woes, Michelin has maintained the title of the world’s most valuable and strongest tyres brand, with a brand value of US$6.8 billion and a BSI score of 84.8 out of 100.

During the pandemic, the French tyre company continued to strive with its innovation strategies and designing its first-ever eco-tyre, the MICHELIN e.PRIMACY, which delivers high performance and reduces environmental impact. This tyre is rated A for energy efficiency and B for wet grip. With fewer than one percent of tyres delivering a winning combination of A-rated rolling resistance and A or B-rated grip,this makes the MICHELIN e.PRIMACY one of the best tyres currently available on the market. Michelin also announced its target of making its tyres 100% sustainable by 2050 as it continues to strive towards becoming the leader in sustainable mobility.

As per Brand Finance, in terms of brand value, Bridgestone is still only marginally behind Michelin, with a brand value of US$6.8 billion. Bridgestone posted a net loss last year for the first time in 69 years, with the pandemic denting sales in all its major markets.

Alex Haigh, Valuation Director, Brand Finance, commented: “Bridgestone and Michelin are the world’s two leading tyre manufacturers, both with extensive experience on the track. They have proven their merit on racetracks worldwide, but it’s their consumer car tyres that people are most curious about. Michelin is an elite tyre maker with an emphasis on creativity and technology, and you can bet that its ‘normal’ tyres contain some of that racing experience. Bridgestone places greater emphasis on the ‘everyday’ driver, so although its tyre line isn’t especially extensive, Bridgestone obviously understands its customers and what they want from their automobile tyres.”

A recent survey done by German tier 1 supplier Continental of fleet operators across Germany, France, the United Kingdom and the United States of America has revealed that almost 72 percent of respondents recognise the need for substantial changes to meet current industry challenges.

The poll results based on the responses of 850 fleet managers, which pointed out that rising costs (76 percent), economic uncertainties due to crises (46 percent) and the demand to reduce CO2 emissions (40 percent) were the key challenges faced by the operators.

It finds that while there were some common issues globally such as a rising costs and economic pressures, certain challenges such as a transition to electric mobility adoption differed depending on the geographies. Fleet manager shortage also was amongst the issues highlighted by the respondents.

Interestingly, fleet managers in the United States (63 percent) were found to be more open to adopt new technologies, in contrast to their European counterparts (20 percent).

Clarisa Doval, Head of Digital Solutions at Continental Tires, said, "Survey results highlight that cost pressure is the greatest challenge for fleet operators. Low margins, rising costs, and stricter emissions standards are reducing investment capacity, while wage developments and labour shortages add further strain. Our digital tyre management solutions provide our customers with a valuable asset in this transition. With ContiConnect, fleets can operate more cost-effectively and sustainably, supporting their competitiveness."

"Intense competition in logistics, which is being further intensified by climate change and ongoing global crises, makes adaptability and resilience a decisive factor for success. At Continental, we create innovative solutions to enhance fleet efficiency, reduce costs, and promote sustainability. Tyres are a key factor in total operating expenses, and our digital tools for tire condition monitoring deliver substantial long-term savings," she added.

MarketsandMarkets has said in its latest report that the tyre recycling market is expected to grow from USD 7.44 billion in 2024 to USD 8.92 billion by 2029 at a CAGR of 3.7 percent.

The report titled ‘Tire Recycling Market by Product (Rubber, TDF, TDA, Carbon Black), Process (Mechanical Shredding, Ambient Grinding, Pyrolysis), Type (Service, Material), End-use Industry (Automotive, Construction, Manufacturing) and Region – Global Forecast to 2029’ attributes the growth in this market to increasing environmental awareness and the implementation of stringent government regulations in different countries in reducing waste and pollution in the environment. Key players in the tyre recycling market, according to the report, are Liberty Tire Recycling (US), GENAN HOLDING A/S (Denmark), ResourceCo (Australia), GRP LTD (India), Lehigh Technologies, Inc. (US), Entech Inc (US), Emanuel Tire LLC (US), BDS Tire Recycling (US), Contec (Poland) and CRM (US).

According to the report, the Asia Pacific region is expected to be the fastest growing market for tyre recycling during the forecast period because of rapid industrialisation, urbanisation and economic growth in the region. Apart from this, government regulations in the Asia Pacific region are also playing a big role in shaping the tyre recycling market.

The report explains that govt incentives and regulatory benefits created by policies around sustainability and carbon reduction are significantly boosting opportunities in this sector. The report cites the Extended Producer Responsibility or EPR programme, which makes it mandatory for the producers of tyres to collect and recycle the tyres at their end-of-life. Additionally, the availability of government incentives and grants for the tyre recycling plants plays a favourable role for the sector.

The report further highlights that construction is the fast-growing end-use industry segment in the market for recycling tyres, explaining that the demand is partly driven by the growing use of recycled tyre products in infrastructure and building projects. These tyre-derived products are used in road construction and as building foundations, insulation and roofing materials. The demand for shock-absorbent, low-maintenance and durable materials in public space and recreational facilities, as well as sports fields, also plays and important role, says the report.

A new survey by OnePoll for Apollo Tyres has revealed that all-season tyres are preferred by a majority of drivers across Europe.

The findings, which took into account 1,000 respondents in each market, point to a constant increase in the popularity of tyres designed to perform throughout the year, including in dry, wet and snow conditions. Spain took the lead among the European countries with 82 percent respondents voting in favour of all-season tyres, followed by France (78 percent), the Netherlands (74 percent), Poland (72 percent) and the UK (65 percent).

For the customers of Apollo Tyres, its Vredestein brand’s Quatrac portfolio offers a lineup of tyres designed for a range of vehicles in a wide choice of sizes. The lineup includes the Quatrac, the Quatrac Pro and Pro+ for muscle cars and SUVs and the Quatrac Pro EV all-season tyre specifically designed for electric vehicles (EVs). All Quatrac tyres come with the ‘Three-Peak Mountain Snowflake’ mark and are fit for year-round use.

Yves Pouliquen, Vice President – Commercial, Europe, Apollo Tyres, said, “All-season tyres are becoming increasingly popular among motorists who want the reassurance of being able to safely tackle fast-changing weather conditions, year-round. With over three decades of expertise in all-season products, drivers can trust the Vredestein brand.”

Vaculug Limited, a leading commercial tyre retreading specialist based in Grantham, UK, has reshuffled its senior management team with the appointment of three new roles. The reshuffle is done with an aim to enhance the organisational structure and drive sustainable growth while prioritising employee development.

As part of the reorganisation, Philip West, Vaculug's Commercial Director, will now be responsible for managing all sales and RTM activities in addition to operations, marketing and customer service. West has been in the business for more than 42 years, and his leadership and depth of expertise make him a great fit for this position.

In his new role as Sales Director, Craig Rudkin will oversee the team responsible for sales and national accounts. Rudkin began working for Vaculug in a position located in a factory and has been with the firm for more than 33 years. Jason Humphries is now the Director of IT and Logistics. Humphries has over 20 years of experience in operations, logistics and IT and has played a key role in putting strategic plans into action since joining Vaculug in 2001.