Global Reclaimed Rubber Market: Overview
Reclaimed rubber is cured rubber obtained through thermo-chemical process that softens and swells the rubber. The viscosity of the rubber is lessened by shortening the polymer chain by mechanical shear and chemical action. The different types of reclaimed rubber available in the market are whole tire reclaim (WTR), drab and colored, butyl reclaim, and ethylene propylene diene monomer (EPDM), among others. Of these, butyl reclaim enjoys a substantial share in the market. Going forward, however, EPDM is slated to outshine all the other types of products in terms of growth due technological progress that has resulted in better product properties and improved sustainability.
Reclaimed rubber finds application in automotive and aircraft tires, footwear, cycle tires, molded rubber goods, belts and hoses, retreading, etc. Among them, the automotive and aircraft tires account for a dominant share in the market and in the years ahead is slated to outpace all other application segments to clock maximum growth. Rising knowledge about the cost-effective and eco-friendly alternatives for virgin rubber will likely drive demand for reclaimed rubber for use in durable tires and other synthetic products in automotive sector.
A report by Transparency Market Research studies the global market for reclaimed rubber by factoring in the current competitive dynamics, growth drivers and restraints, and market size. The report leverages popular analytical tools to uncover opportunities and threats awaiting players and also profiles leading companies operating in the market.
Global Reclaimed Rubber Market: Drivers and Trends
At the forefront of driving demand in the global market for reclaimed rubber is the growing consumer awareness about environment-friendly materials with reduced processing costs and improved properties. As a result, reclaimed rubber is finding use in automotive and cycle tires, footwear, and other molded rubber goods. Other factors stoking growth in the market are rising rubber costs, increasing concerns about the damage caused to the environment because of dumping used rubber in rivers, and greater energy efficiency.
A noticeable trend in the global market for reclaimed rubber is the soaring demand for whole tire reclaim (WTR) which is predicted to significantly contribute to the market in the years to come. The robust demand is on account of its excellent versatility and durability, reduced processing costs, and little negative impact on the environment. The development of innovative elastomer-based products, however, has somewhat damped demand for this segment.
Global Reclaimed Rubber Market: Regional Outlook
Geographically, the key segments of the global market for reclaimed rubber are Asia Pacific, North America, Europe, and the Rest of the World. Of these, Asia Pacific is a dominant market in terms of consumption. The fast-expanding automotive and aerospace industry, especially in China, Thailand, and India has led to the stellar growth in the Asia Pacific market and going forward too will continue powering more growth.
Another factor boosting the Asia Pacific market is the growing trend of major recyclers shifting their manufacturing bases to low-cost destinations in the region. The ban on landfills in the European Union has also led to manufacturers focusing more on Asia Pacific.
The continents of Europe and North America are also expected to see growth in the market in the years ahead, but at a much slower pace. An automotive industry gathering steam after the recession, is likely to spur consumption in the two continents.
Companies Mentioned in Report
To present a detailed assessment of the competition prevailing in the global market for reclaimed rubber, the report profiles companies such as Rolex Reclaim Pvt. Ltd., GRP (Gujarat Reclaim & Rubber Product Ltd.), J. Allcock & Sons, Huxar Reclamation, Star Polymers, Titan International Ltd., Balaji Rubber Reclaim, and Michelin.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.