Hankook Tire announced on Tuesday that it has incorporated three types of carbon black, a byproduct of the combustion of various petroleum products, into tire production as part of its efforts to create a circular economy.

Last year, Hankook Tire launched the Tire-to-Tire Circular Economy Model consortium together with HD Hyundai Oilbank and HD Hyundai OCI to upcycle waste tires and develop carbon black.

HD Hyundai Oilbank sources recovered carbon and pyrolysis oil, or bio-oil, from end-of-life tires to produce slurry oil, which HD Hyundai OCI then uses as a raw material to supply carbon black.

In April, the carbon black received the ISCC Plus certification, recognizing it globally as an eco-friendly product. Starting this year, Hankook Tire is set to use this carbon black for tire production, with plans for expansion in phases.

“By replacing petrochemicals with green materials, this cooperation will contribute to the tire industry’s shift towards a circular economy. We can conserve natural resources and reduce carbon emissions, as using carbon black helps lessen our reliance on petroleum,” said a company official.

Hankook Tire plans to continue its joint efforts to produce carbon black solely from pyrolysis oil. The company will also work on additional circular materials, with a target to exclusively use sustainable materials by 2050.

In September, Hankook Tire received the highest grade in the International Automobile Federation's environmental accreditation. The company's greenhouse gas emissions reduction target was also approved by the Science Based Targets Initiative last year.