Million Insights - World's Fastest Growing Market Research DatabaseAccording to new report available with Million Insights, the global reclaimed rubber industry report on is foretold to provide a robust support for market players to lay a solid foundation for their business growth. It includes a comprehensive evaluation of the market’s growth status and market risk.
The global reclaimed rubber market is expected to value at USD 6.32 billion by 2025. The reclaimed rubber industry is subject to witness a substantial growth due to the superior product properties in comparison with natural rubber. The factors responsible for robust market growth include soaring demand from automotive and pharmaceutical sector. Reclaimed rubber is gaining popularity in automotive for the production of automobile tires doe to its eco-friendly properties.
In addition, increasing adoption of original equipment manufacturer (OEM) tires by automobile manufactures is predicted to fuel market demand for reclaimed rubber in the upcoming years. Globally, the reclaimed rubber market is predicted to grow at CAGR of 10.3% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
The shifting trend towards rubber recycling to enhance its sustainability is expected to offer numerous growth opportunities for industry players in the upcoming years. Reclaimed rubber is manufactured via a thermo-chemical process, which involves softening & expanding the product. This reduce the overall viscosity and break the cross-links. These factors are anticipated to favor market expansion in the upcoming years.
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Reclaimed rubber, which is inexpensive and easily available, is highly preferred by manufacturers due to lower power consumption rate & reduced thermal plasticity levels. Reclaimed rubber is offer simpler operation during break down processing, particularly in comparison with the synthetic rubber. Easy availability of waste tires and cost efficiency of reclaim rubber is expected to boost market demand for the product in the upcoming years.
Use of reclaimed rubber offers advantages such as higher impermeability, cure versatility, better cure rate, cure compatibility, superior adhesion, and higher heat resistance. Additionally, early adoption of reclaimed rubber provides constant inflation pressure, longer life span, and heat stability for automobile tires. These factors are expected to drive the growth of reclaimed rubber industry in the upcoming years.
The reclaimed rubber is largely used during production of automobile tires. Applications of reclaimed rubber in automotive sector involves production of tire inner liners, hoses, seals and membranes. The reclaimed rubber is also used during production of pharmaceutical products & footwear’s such as stoppers, shoe soles, heels, liners and rubber articles, thus offering higher resistance to chemicals and weathering. Other application of reclaimed rubber include tank linings, conveyor belts, and protective clothing.
The reclaimed rubber market is broadly categorized into six major segments based on the application type such as automotive & aircraft tires, cycle tires, retreading, belts & hoses, footwear and molded rubber goods. The automotive & aircraft tires is considered as one of the fastest growing segment in the reclaimed rubber industry with substantial revenue generation in the last few years. Growing popularity of reclaimed rubber in the automotive & aircraft tires segment is attributed to the soaring demand for original equipment manufacturer (OEM) tires from Asia Pacific region. The footwear segment has also witnessed substantial growth owing to the high-end demand for shoe soles, heels, and liners.
The reclaimed rubber market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in chemical industry, favorable laws & regulations by regional governments, increase in the number of research & development activities in the region and existence of well-established infrastructure.
Asia-Pacific region is predicted to hold major market share in the reclaimed rubber with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid growth of automotive industry, growing demand for original equipment manufacturer (OEM) tires, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the reclaimed rubber industry are Gujarat Reclaim & Rubber (GRP) Product Ltd., J. Allcock& Sons, Rolex Reclaim Pvt., Ltd., Sun Exims Pvt., Ltd., Huxar Reclamation Ltd., Star Polymers Co., Genan Global Company, Titan International Ltd., Balaji Rubber Reclaim Ltd., Swani Rubber Industries Ltd., and Michelin Co.
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Reclaimed Rubber Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Whole Tire Reclaim (WTR)
• Butyl Reclaim
• Drab & Colored
Reclaimed Rubber Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Automotive & Aircraft Tires
• Cycle Tires
• Belts & Hoses
• Molded Rubber Goods
Reclaim Rubber Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East and Africa
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