Global Reclaimed Rubber Market will increase CAGR by 10.2% Annually till 2022
Zion Market Research has published a new report titled "Reclaimed Rubber Market (Whole Tire Reclaim (WTR), Butyl Reclaim, Ethylene Propylene Diene Monomer (EPDM), Drab & Colored, and Others) for Automotive & Aircraft Tires, Cycle Tires, Retreading, Belts & Hoses, Footwear, Molded Rubber Goods Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022". According to the report, global reclaimed rubber market was valued at USD 2.09 billion in 2016, is expected to reach USD 3.75 billion in 2022 and is anticipated to grow at a CAGR of 10.2% between 2017 and 2022.
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Reclaim rubber used as a substitute for natural & synthetic rubber. Reclaim rubber from a scrap of whole tires; tread peelings, natural rubber tubes used for different applications both for tires and on tires rubber products. Reclaiming or recycling is the widest spread method allowing fractional recycling and use of waste rubber. The common principle of the most existing methods of reclaiming is the destruction of turgid vulcanized rubber or thermal-oxidative.
Expanding automotive & aerospace industries in emerging economies such as Thailand, Malaysia, India and even China have boosted the demand of the market.
Furthermore, reclaimed rubber consumption is driven by stringent recycling standards and regulatory intervention by governments to reduce the number of landfills in regions like Europe and North America. Additionally, the easy availability of waste tires and low cost of reclaim rubber has further contributed to market growth in recent years.
The overall reclaimed rubber market is segmented on the basis product such as WTR, butyl reclaim, EPDM, drab & colored, and others. The WTR rubber segment accounted for the largest market share in 2016 and accounted for over 42% of total market volume in 2016. WTR rubber is also expected to be one of the fastest growing segments from 2016 to 2022. Automotive & Aircraft tires, cycle tires, retreading, belts & hoses, footwear, molded rubber goods and others are the key applications of the reclaimed rubber market. The automotive & aircraft tires segment is expected to grow at highest CAGR in terms of volume over the forecast period.
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Geographically, Asia-Pacific was the largest market for reclaimed rubber in 2016 and is expected to continue being a major market during the forecast period. It accounted for more than 62% share of the total revenue of reclaimed rubber market. The growth in the region is mainly attributed to the growing industrial manufacturing activities. Developed countries are expected to witness growth at below-average rates as compared to other regions across the globe. However, rebounding rubber market coupled with recovery in the automobile sector is expected to drive reclaimed rubber consumption in North America & Europe.
The key players of global reclaimed rubber market include GRP (Gujarat Reclaim & Rubber Product Ltd.), J. Allcock & Sons, Rolex Reclaim Pvt. Ltd., Sun Exims (India) Pvt. Ltd., Huxar Reclamation, Star Polymers, Genan, Titan International Ltd., Balaji Rubber Reclaim, Swani Rubber Industries, and Michelin among others GRP (Gujarat Reclaim & Rubber Product Ltd.), Star Polymers, J. Allcock & Sons, Huxar Reclamation, Rolex Reclaim Pvt. Ltd., Genan, Sun Exims (India) Pvt. Ltd., Titan International Ltd., Balaji Rubber Reclaim, Swani Rubber Industries, Michelin and among others.
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This report segments the reclaimed rubber market as follows:
Global Reclaimed Rubber Market: Product Analysis
- Whole Tire Reclaim (WTR)
- Butyl Reclaim
- Ethylene Propylene Diene Monomer (EPDM)
- Drab & Colored
- Others
Global Reclaimed Rubber Market: Application Analysis
- Automotive & Aircraft Tires
- Cycle Tires
- Retreading
- Belts & Hoses
- Footwear
- Molded Rubber Goods
- Others
Global Reclaimed Rubber Market: Regional Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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