India’s tyre retreading market is estimated to be an INR 60 billion industry with retreading mostly happening on commercial vehicle tyres. The organised sector is slated to grow between 7-9 percent (CAGR) over the next three years. The retreading industry in India dates back decades, primarily focusing on commercial vehicle tyres. Over the decades, it has evolved with advancements in technology and regulatory frameworks. Government initiatives promoting sustainability and waste tyre management have further spurred growth, establishing retreading as a key component of the tyre market.

A recent media report stated that the organised tyre retreading market in India observed muted growth in the last five years. Speaking to Tyre Trends¸ ICRA Assistant Vice President and Sector Head – Corporate Ratings Nithya Debbadi said, “The domestic tyre retreading market is estimated at over INR 60 billion. Tyre retreading is largely done in commercial vehicles, which account for 80 percent of the market. Trucks account for 60-65 percent, while buses account for the rest of 15-20 percent. Off-highway tyres (OHT) including tractors account for 12-15 percent, while passenger vehicles account for a negligible share.”

More than 70 percent of the truck tyres are retreaded at least once. While retreading is prominent even in the LCV segment, proportion of tyres retreaded is lower than in M&HCV. Increasing radialisation, improving road infrastructure and retreading technology and focus on sustainability is expected to increase the share of retreading in the truck and bus radial (TBR) segment, going forward. New tyre designs for electric vehicles also presents opportunities for the retreading industry.

Demand growth

Alluding to how the Indian government’s focus on waste tyre disposal and increasing radialisation in commercial vehicles has benefitted the TBR retreading market in India, she noted, “Indian government introduced Extended Producer Responsibility (EPR) guidelines for waste tyres management, which came into effect in July 2022. The guidelines lay down rules relating to utilisation and management of waste tyres by producers (manufacturers and importers), recyclers and retreaders. Producers or importers need to fulfil EPR obligations by purchasing EPR certificate from registered recyclers. However, EPR obligation of tyre which has been retreaded shall be deferred by one year.” 

 “While the guidelines came into effect in FY2023, targets have been increasing progressively with the obligation increasing to 100 percent of tyre production in FY2025. Increasing focus on waste tyre management incentivises producers to focus on sustainability, which supports growth of retreading market. Compliance is achieved by purchasing EPR certificates from authorised recyclers or retreaders, thus developing tyre recycling infrastructure,” she added.

In trucks and bus segment, share of radialisation is estimated to have increased from 48 percent in FY2019 to over 55 percent in FY2024. Radial tyres have stronger structure, which supports multiple rounds of retreading. Moreover, radial tyres are more suited for roads in better conditions, leading to higher range for a given duration. This leads to frequent need for retreading.

She also noted that owing to Covid-19 and its post-effects, the retreading industry saw a flattish growth (estimated CAGR of 1-3 percent) in the three years ending FY2023. However, with the government’s thrust towards disposal of waste tyres, anti-overloading measures and increasing radialisation in commercial vehicle tyre segment, the retreading market has been a key beneficiary witnessing better demand traction in FY2024.

ICRA expects the organised tyre retreaders to grow by 7-9 percent (CAGR) over the next three years. Key factors supporting the growth include focus on sustainable tyres, improving tyre and retreading technology, better road infrastructure, rising radialisation in CV segment etc.

Alluding to what impact is the growing demand for sustainability and cost efficiency having on the quality standards and innovation within the retreading industry, she noted, “Retreading results in significant cost saving as the cost of retreading is around 20-50 percent the cost of a new tyre because of reuse of casing. Treads account for close to one-third of a tyre’s total cost. Performance of a retreaded tyre also depends on the health of the original casing.”

She added, “Developments in tyre technology has resulted in stronger casings and overall tyre structure that supports multiple rounds of retreading. Enhanced re-manufacturing techniques and higher quality rubber compounds are improving the quality of retreaded tyres and supporting demand. With quality casing and superior retreading technology, a tyre can be retreaded two to three times before being replaced while maintaining 80 percent quality of the new one.

Impending challenges

The tyre retreading market in India is at a pivotal juncture driven by a confluence of regulatory support, technological advancements and a growing awareness of sustainability. While challenges remain in the form of market fragmentation, the potential for growth is significant.

Despite these positive trends, the TBR retreading market faces significant challenges. The Indian market remains highly fragmented with over 50 percent of players operating in the unorganised sector.

As the industry adapts to changing dynamics, the focus on quality and sustainability will play a crucial role in shaping its future trajectory. The next decade may see retreading not just as a viable alternative to new tyres but as an essential component of a more sustainable automotive ecosystem in India.

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South Korean tyre major Nexen Tire has added another feather to its cap and has received a Gold rating from EcoVadis for the second year in succession. This places the company among the top 3 percent of over 150,000 companies assessed globally.

Established in 2007 in France, EcoVadis evaluates corporate sustainability performance across Environment, Labour & Human Rights, Ethics and Sustainable Procurement. Its ratings are Platinum (top 1 percent), Gold (top 5 percent), Silver (top 15 percent) and Bronze (top 35 percent).

Nexen Tire showed improvements across all assessment areas. In the Environment category, the company's involvement in global sustainability initiatives, including the Global Platform for Sustainable Natural Rubber (GPSNR), the UN Global Compact (UNGC) and the Science Based Targets initiative (SBTi) was noted. Climate education programmes and greenhouse gas emissions disclosure were contributors.

For Labour & Human Rights, Nexen Tire's human rights policy aligns with international standards from the United Nations and the International Labour Organization (ILO). The company also began human rights assessments for risk management.

In the Ethics pillar, the company reinforced internal systems for risk prevention, monitoring, and mitigation. The Sustainable Procurement score improved through ESG assessments, supplier audits and risk response strategies.

John Bosco (Hyeon Suk) Kim, CEO, Nexen Tire, said, “Receiving the Gold rating from EcoVadis for the second consecutive year is a significant affirmation of our global ESG efforts. We remain committed to responsible and transparent management practices that meet the expectations of our stakeholders worldwide.”

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TÜV SÜD AG’s Supervisory Board has named Ishan Palit as Interim CEO (Chairman of the Board of Management) effective 15 July 2025, following Dr Johannes Bussmann’s departure to assume the CEO role at MTU Aero Engines AG. Bussmann will leave TÜV SÜD on 14 July 2025. Palit will co-lead the company with CFO Sabine Nitzsche until a permanent successor is appointed.

With over 30 years at TÜV SÜD, Palit has held key leadership roles, including establishing the company’s India operations, serving as Asia Pacific CEO and leading the global Product Service Division. Since 2017, he has been Chief Operating Officer, driving strategic and operational initiatives.

Nitzsche, who joined as CFO in March 2025, brings extensive financial and executive expertise from the high-tech and automotive sectors. Her prior roles include CFO of Vitesco Technologies AG and senior financial leadership positions at Infineon Technologies and GlobalFoundries.

Frank Hyldmar, Chairman of the Supervisory Board of TÜV SÜD AG, said, “We are very pleased that Ishan and Sabine will oversee the interim management of TÜV SÜD during this transition. Ishan is a seasoned TÜV SÜD senior executive with deep knowledge of our business and strong global leadership experience. Sabine brings a proven track record as CFO across multiple multinational enterprises. Together, they form a strong leadership team as we work towards appointing a long-term CEO.”

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Hankook Tire & Technology has announced a series of executive leadership changes at its North American headquarters in Nashville, reinforcing its commitment to growth in passenger and commercial tyre markets. The restructuring brings fresh leadership across key sales and marketing functions.

Kyuwang (Ken) Cho assumes the role of Senior Vice President of North America Marketing, transitioning from his previous dual leadership of PC/LT Sales and Marketing. The industry veteran brings 25 years of Hankook experience, including a stint as Vice President of Global Sales in Korea. K C Jensen steps up as Vice President of US PC/LT Sales, expanding his responsibilities from regional to national oversight after demonstrating strong leadership in the Western market since 2018.

The company welcomes back Mark Roe as Vice President of US TBR Sales, where his four decades of commercial tyre expertise will guide replacement and OE sales strategies. Roe's extensive background includes previous leadership roles at Hankook and most recently at Ralson Tire North America.

Regional sales teams also see strategic promotions. Shaun Prott advances to Regional Director of PC/LT Sales for the West, building on his eight-year tenure with Hankook and prior experience with National Tire Warehouse. Travis Jones rejoins the organisation as Northeast Regional Director, bringing valuable perspective from Michelin and Pirelli. Brian Ford earns promotion to Regional Director of TBR Sales for the West after successfully managing key commercial accounts since 2021.

Rob Williams, President of Hankook Tire America Corp, said, "These leadership appointments reflect Hankook's strong momentum in North America. Ken, K.C. and Mark each bring exceptional industry experience, strategic focus and leadership qualities to their roles. Together, they will help elevate our presence across both consumer and commercial channels, and support our long-term growth ambitions in the US. These moves speak to the strength of our internal talent pipeline & ability to attract top talent and our continued investment in customer relationships. Shaun, Travis and Brian all bring deep knowledge of their markets and proven ability to grow key partnerships."

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French tyre major Michelin has introduced its new X Line Grip D range, which is designed to work up to 1 million miles (1.6 million kilometres) with up to four retreads. The company shared its designers' claim that this is a ‘once-in-a-lifetime’ leap in tyre technology for fleets.

In addition to the higher range, the tyres also provide 20 percent more mileage and a 20 percent reduction in rolling resistance compared to the Michelin XDN2 tyre.

Designed to meet both wet and snowy conditions thanks to the chevron tread design, these tyres are said to prove 90 percent better starting traction in snow and over 25 percent better wet starting traction.

Fleets also benefit from using the Michelin X Line Grip D tyre, as it is built on the company’s Duracore casing, featuring Infinicoil and Powercoil technologies. 

Pierluigi Cumo, VP – B2B Marketing, Michelin North America, said, “Michelin is never satisfied with current tyre technology when it comes to constantly improving and innovating our products. That’s why Michelin is so proud to introduce the Michelin X Line Grip D tyre. This tyre has the potential going forward to redefine the drive tyre standard in fleets for years to come. It is not an evolution to existing products, but something entirely different the fleet world has never seen before.”

“Michelin has a proven track record of delivering high-quality, reliable products that exceed performance expectations. This fantastic leap in drive tyre technology bring new levels of performance to the road and new levels of savings to our customers,” he concluded.

The Michelin X Line Grip D tyre is available in sizes 295/75R22.5 and 11R22.5.

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