Reclaimed Rubber Market to Generate USD 5.40 Billion by 2024 showcasing a CAGR of 10.4%
Posted On September 20, 2018
Value Market Research has recently announced its new market study based on Reclaimed Rubber. Projection reveals that the Global Reclaimed Rubber Market has valued USD 2.72 Billion (by revenue) in 2017 and is anticipated to reach USD 5.40 Billion by 2024 with a CAGR of 10.4%. The report studies the market drivers and foresees the future industry growth. The regional segmentation of the market gives a detailed illustration of the countries and region which are expecting high growth in the next six years.
The analysis shows that the rubber industry is very mature and complex. The demand for reclaimed rubber is high owing to the rise in domestic production and import. Besides catering to the entire domestic demand, the industry is also breaking new barriers on the export front. The various factors responsible for the industry expansion are rapid industrialization, on-going economic reforms, and improved living standards of the people. It has gain demand due to its numerous advantage, especially as it is cheaper and speeds up mixing operations. Also, because of its plasticity, it can work easily with solvents to form a useful product. The target market for rubber are canvas and shoes, factories involved in tires, industrial machines and automotive rubber spare parts production and retreading.
The report "Global Reclaimed Rubber Market Report By Product (Whole Tire Reclaim (WTR), Butyl Reclaim, EPDM, Drab & Colored, And Others), Application (Automotive & Aircraft, Cycle Tyre, Retreading, Belts & Hoses, Footwear, Molded Rubber Goods, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024" with its elaborate market data coverage is easy to comprehend and gives a holistic picture of the market in the next six years.
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Reclaimed rubber is a product basically obtained by reclaiming processes of scrap rubber goods. Technically, scrap rubber is added in hot caustic solution and reclaiming agents are introduced to obtain reclaimed rubber. The product is broadly used in rubber formulations to improve processing and uniformity at low cost. Excellent properties such as low thermo-plasticity, swelling and shrinkage, high cutting rate and better ability to retain shape have widened its application areas. The end products of reclaimed rubber are tire repair materials, soles and rubber footwear, tires, inner tubes, hard rubber battery boxes, hose belting, packing and rubber surfacing material.
The market segmentation includes product type, application, and region. Product type comprises of whole tire reclaim (WTR), butyl reclaim, EPDM, drab & colored, and others. WTR is gaining hype in the market owing to its excellent properties such as better permeability & adhesion, fast mixing, and improved die swell. Also, rising usage of the product in the production of rubber product such as car mats, shoe soles, rubber sheets, etc. Application area includes automotive & aircraft, cycle tyre, retreading, belts & hoses, footwear, molded rubber goods, and others. The automotive and aerospace is dominating the segment owing to its high tensile strength for carrying heavy good and superior elasticity property are the factors boosting their demand across automotive and aircrafts industry.
Regional segmentation section covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Out of this five top region, Asia-Pacific has emerged as a dominating region in the global reclaimed rubber market and it is expected to maintain its dominance over the forecast period. The growth in this region can be attributed to the fast-growing automotive and aerospace industry, especially in emerging economies like China, Thailand, and India.
The Report Segments Global Reclaimed Rubber Market -
- Whole Tire Reclaim (WTR)
- Butyl Reclaim
- Drab And Colored
- Automotive & Aircraft
- Cycle Tyre
- Belts & Hoses
- Molded Rubber Goods
- North America
- Latin America
- Middle East & Africa
Competitive Insight Of Reclaimed Rubber:
Balaji Rubber Reclaim, Genan, GRP (Gujarat Reclaim & Rubber Product Ltd.), Huxar Reclamation , J. Allcock & Sons , Michelin, Rolex Reclaim Pvt. Ltd., Star Polymers, Sun Exims (India) Pvt. Ltd., Swani Rubber Industries, and Titan International Ltd.
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