Rising awareness regarding cost-effective and eco-friendly substitutes for virgin rubber among the end-users is the key factor driving the market growth. Excellent properties such as resistance to heat, ozone, and high mechanical strength have widened its application in automotive, construction, footwear and other end-user industries. Growing automotive and aerospace industry leading to high demand and consumption of reclaimed rubber from emerging economies is presumed to fuel the market growth. Moreover, favorable governmental norms on the use of eco-friendly materials followed by rising environmental concern are expected to foster the market demand in upcoming timespan.
As per the latest report by Value Market Research, the Global Reclaimed Rubber Market was valued USD 2,728.7 MN (by revenue) in 2017 and is anticipated to reach USD 5,400.5 MN by 2024 with a CAGR of 10.4%. By volume, the market was estimated XXX Kilo-Tons in 2017 and is expected to reach XXX Kilo-Tons by 2024 with a CAGR of X.X%.
WHOLE TIRE RECLAIM (WTR) RUBBER EMERGES AS LEADING THE PRODUCT TYPE
In 2017, whole tyre reclaim (WTR) dominated the product segment owing to its extensive use in the manufacturing of car mats, shoe soles, rubber sheets etc. is fueling the market growth. As per the analysis, whole tyre reclaim (WTR) is expected to reach USD XX.X million by end of 2024. Owing to superior properties such as better permeability & adhesion, fast mixing, and improved die swell has widened its application in end-use industries.
BY APPLICATION, AUTOMOTIVE & AIRCRAFT TIRES LED THE SEGMENT
Automotive & aircraft dominated the application segment owing to cost-efficient, eco-friendly and better substitute to virgin rubber is driving its demand in automotive and aircraft tyres. As per the analysis, automotive & aircraft tyres segment is expected to reach USD XX.X million by end of the year 2024.
ASIA PACIFIC LED THE REGIONAL MARKET
Geographically, Asia Pacific dominated the market on account of booming automotive and aerospace industry in China, Indonesia and India are driving the market growth. By 2024, Asia Pacific is anticipated to reach USD XX.X million.
KEY PLAYERS OF THE MARKET
Reclaimed rubber market is moderately competitive owing to the presence of key vendors. Major players of the market are 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.
As per this study the Global Reclaimed Rubber Market was valued USD X,XXX.X MN (by revenue) in 2019 and is anticipated to reach USD X,XXX.X MN by 2026 with a CAGR of XX.X%. By volume, the market was estimated XXX Kilo-Tons in 2019 and is expected to reach XXX Kilo-Tons by 2026 with a CAGR of X.X%.
Reclaimed rubber refers to recycled or vulcanized rubber treated with reclaiming process to retain plasticity of rubber. Basically, scrap rubber is added in hot caustic solution and reclaiming agents are introduced which result in the formation of reclaimed rubber. It is extensively used in rubber formulations to improve processing and uniformity at low cost. Superior chemical properties such as low thermo-plasticity, swelling and shrinkage, high cutting rate and better ability to retain shape have widened its application areas across various industries.
Some of the major trends observed are raising awareness regarding cost-effective and eco-friendly substitutes for virgin rubber among the end-users is the key factor driving the market growth. Rising automotive and aerospace industry leading to high demand and consumption of reclaimed rubber from emerging economies is expected to fuel the market growth. Additionally, favorable governmental regulations on usage of eco-friendly materials along with the rising environmental concern are expected to foster the product demand.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of reclaimed rubber.
The broad reclaimed rubber market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application Market Share 2019
- Whole Tire Reclaim (WTR)
- Butyl Reclaim
- Drab And Colored
- Automotive & Aircraft
- Cycle Tyre
- Belts & Hoses
- Molded Rubber Goods
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for reclaimed rubber in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Reclaimed Rubber Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the reclaimed rubber market includes 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.. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.