The global reclaimed rubber market size has been estimated at USD 2,931.5 million in 2021 and is projected to register a CAGR of 9.6% between 2021-2030, to reach USD 6,683.9 million by 2030. However, due to the COVID-19 impact, the market size estimation would decline to USD 2,626.2 million in 2021 and is projected to register a CAGR of 5.7% during the forecast period to reach USD 4,311.7 million by 2030.
Rising demand for virgin rubber is the driving factor for the market growth. The market for reclaimed rubber is growing as consumers are becoming more aware of the cost-effective and environmental-friendly alternatives to virgin rubber. The demand for reclaimed rubber is increasing due to adoption of footwear and cycle tires. However, rising concerns about environmental damage caused by dumping used rubber in rivers may limit the growth of the market.
The reclaimed rubber market is segmented on the basis of type, material type, application, end-use industry, and region.
Based on type, the market is divided into whole tire reclaim (WTR), butyl reclaim, ethylene propylene diene monomer (EPDM), drab & colored, and others. Among these, the whole tire reclaim (WTR) segment is expected to hold the largest market share during the forecast period. Rubber from whole tire reclaim (WTR) is the most popular reclaimed rubber, accounting for over 33.09% of the total market share in 2021. To make a high-grade, high-performance product, the thread portion of scrap tires is filled with carbon black. Until recently, when the emergence of new elastomer-based nitrile as well as silicon tires corroded its market share, WTR was the most popular segment.
Based on the material type, the global reclaimed rubber market is bifurcated into synthetic and natural. Between these two segments, the synthetic segment has been estimated to account for the largest share in the global reclaimed rubber market in 2021. It is also expected to grow at the highest rate during the forecast period. The most important application segment for synthetic rubber is tires. During the forecast period, the synthetic rubber market will be driven by the global recovery of the automotive sector. Furthermore, development of environmental-friendly synthetic rubber manufacturing technologies, as well as growing demand for electric and hybrid vehicles, are creating new opportunities for the synthetic rubber segment’s growth. This, in turn, is expected to enhance the reclaimed rubber market growth in the near future.
Based on application, the market is divided into tire and non-tire. The tire segment has been estimated to hold the largest market share during the forecast period. Increased automotive production and sales across various vehicle segments, as well as growing competition among tire manufacturers, are driving the tire segment’s growth. Moreover, the tire market is expected to grow due to the introduction of advanced technology in the manufacturing process. Technological advancements, fuel efficiency, and safety concerns, combined with government support, are anticipated to create multiple opportunities for market growth and expansion.
Based on the end-use industry, the market is divided into transportation, heavy engineering, building & construction, aerospace & defense, and others. The transportation segment is estimated to hold the largest market share during the forecast period, and it is expected to grow at the highest CAGR during the forecast timeframe. Rubber recycling to improve sustainability factors in the transportation industry has aided the industry's global expansion. Due to its reduced thermal plasticity and lower power consumption rate, this less expensive tire raw material is widely preferred by manufacturers. When compared to its synthetic counterpart, such properties make it easier to break down during the processing stage. In recent years, increased availability of disposed as well as waste tires and lower reclaimed rubber costs have aided the growth of the industry. Owing to its resistance to ultraviolet rays and heat radiation from the sun, the demand for reclaimed rubber is expected to increase in the fast-expanding transportation industry. Its use has grown in importance in the production of tires, wheels, and belts and hoses, and also in other non-automotive parts.
By region, the global reclaimed rubber market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region has been estimated to account for the largest share of around 50.5%, and it is also expected to be the fastest-growing region during the forecast period in the global reclaimed rubber market. Expanding automotive and aerospace industries, particularly in China, Thailand, and India, are expected to influence product demand during the forecast period. Owing to lower labor costs in these regions, as well as the EU's landfill ban, major recyclers have been shifting their production bases to emerging countries in Asia Pacific. Non-tire applications, such as medical molded consumer goods, battery boxes, and mats and flooring, have witnessed high demand as a result of the region's rapidly expanding manufacturing activities.
In comparison to other regions around the world, developed countries are likely to experience slower growth. However, in North America and Europe, the rebounding rubber market, combined with a recovery in the automotive industry, is expected to drive reclaimed tire consumption. This will have a favorable impact on the reclaimed rubber market in these regions.
Rising demand for virgin rubber is the driving factor for the market growth. The market for reclaimed rubber is growing as consumers are becoming more aware of the cost-effective and environmental-friendly alternatives to virgin rubber. The demand for reclaimed rubber is increasing due to adoption of footwear and cycle tires. However, rising concerns about environmental damage caused by dumping used rubber in rivers may limit the growth of the market.
The reclaimed rubber market is segmented on the basis of type, material type, application, end-use industry, and region.
Based on type, the market is divided into whole tire reclaim (WTR), butyl reclaim, ethylene propylene diene monomer (EPDM), drab & colored, and others. Among these, the whole tire reclaim (WTR) segment is expected to hold the largest market share during the forecast period. Rubber from whole tire reclaim (WTR) is the most popular reclaimed rubber, accounting for over 33.09% of the total market share in 2021. To make a high-grade, high-performance product, the thread portion of scrap tires is filled with carbon black. Until recently, when the emergence of new elastomer-based nitrile as well as silicon tires corroded its market share, WTR was the most popular segment.
Based on the material type, the global reclaimed rubber market is bifurcated into synthetic and natural. Between these two segments, the synthetic segment has been estimated to account for the largest share in the global reclaimed rubber market in 2021. It is also expected to grow at the highest rate during the forecast period. The most important application segment for synthetic rubber is tires. During the forecast period, the synthetic rubber market will be driven by the global recovery of the automotive sector. Furthermore, development of environmental-friendly synthetic rubber manufacturing technologies, as well as growing demand for electric and hybrid vehicles, are creating new opportunities for the synthetic rubber segment’s growth. This, in turn, is expected to enhance the reclaimed rubber market growth in the near future.
Based on application, the market is divided into tire and non-tire. The tire segment has been estimated to hold the largest market share during the forecast period. Increased automotive production and sales across various vehicle segments, as well as growing competition among tire manufacturers, are driving the tire segment’s growth. Moreover, the tire market is expected to grow due to the introduction of advanced technology in the manufacturing process. Technological advancements, fuel efficiency, and safety concerns, combined with government support, are anticipated to create multiple opportunities for market growth and expansion.
Based on the end-use industry, the market is divided into transportation, heavy engineering, building & construction, aerospace & defense, and others. The transportation segment is estimated to hold the largest market share during the forecast period, and it is expected to grow at the highest CAGR during the forecast timeframe. Rubber recycling to improve sustainability factors in the transportation industry has aided the industry's global expansion. Due to its reduced thermal plasticity and lower power consumption rate, this less expensive tire raw material is widely preferred by manufacturers. When compared to its synthetic counterpart, such properties make it easier to break down during the processing stage. In recent years, increased availability of disposed as well as waste tires and lower reclaimed rubber costs have aided the growth of the industry. Owing to its resistance to ultraviolet rays and heat radiation from the sun, the demand for reclaimed rubber is expected to increase in the fast-expanding transportation industry. Its use has grown in importance in the production of tires, wheels, and belts and hoses, and also in other non-automotive parts.
By region, the global reclaimed rubber market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region has been estimated to account for the largest share of around 50.5%, and it is also expected to be the fastest-growing region during the forecast period in the global reclaimed rubber market. Expanding automotive and aerospace industries, particularly in China, Thailand, and India, are expected to influence product demand during the forecast period. Owing to lower labor costs in these regions, as well as the EU's landfill ban, major recyclers have been shifting their production bases to emerging countries in Asia Pacific. Non-tire applications, such as medical molded consumer goods, battery boxes, and mats and flooring, have witnessed high demand as a result of the region's rapidly expanding manufacturing activities.
In comparison to other regions around the world, developed countries are likely to experience slower growth. However, in North America and Europe, the rebounding rubber market, combined with a recovery in the automotive industry, is expected to drive reclaimed tire consumption. This will have a favorable impact on the reclaimed rubber market in these regions.
WHAT THIS STUDY PROVIDES
- Global market and submarket forecast covering the period of 2018 to 2030, with accompanying analysis
- Reclaimed rubber market and submarket forecast covering the period of 2018 to 2030, with accompanying analysis
- Extensive details and analysis of contracts, projects, and programs
- Analysis of game-changing technological trends and how these will shape the industry
- Explanation or political, regulatory and technical factors to consider
- Barriers to entry analysis for markets around the world
- Profiles of leading companies operating within the sector with market share analysis
- SWOT analysis of the major strengths and weaknesses of the market, together with the opportunities available and the key threats faced
- Market conclusions & recommendations
KEY QUESTIONS ANSWERED BY THIS REPORT
- How the reclaimed rubber market is evolving?
- What is driving and restraining factors for global reclaimed rubber market?
- How will each reclaimed rubber submarket segment grow over the forecast period and how much sales will these submarkets account for in 2030?
- How will market shares of each reclaimed rubber submarket develop from 2021-2030?
- Which reclaimed rubber submarket will be the main driver of the overall market from 2021-2030?
- How will political and regulatory factors influence regional reclaimed rubber markets and submarkets?
- Will leading national reclaimed rubber broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2030 and which nation will lead the market in 2030?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2018 and 2030?
Frequently Asked Questions about the Reclaimed Rubber Market
What is the estimated value of the Reclaimed Rubber Market?
What is the growth rate of the Reclaimed Rubber Market?
What is the forecasted size of the Reclaimed Rubber Market?
Who are the key companies in the Reclaimed Rubber Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | June 2021 |
| Forecast Period | 2017 - 2030 |
| Estimated Market Value ( USD | $ 2540.1 Million |
| Forecasted Market Value ( USD | $ 4311.7 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Table of Contents
1 Market Abstract
2 Market Introduction
3 Research Practice
4 Key Related Data
5 Impact Factor Analysis
6 Market Development Analysis
7 Reclaimed Rubber Market, by Type
8 Reclaimed Rubber Market, by Material Type
9 Reclaimed Rubber Market, by Application
10 Reclaimed Rubber Market, by End-Use Industry
11 Reclaimed Rubber Market, Regional Analysis
12 Company Profile
13 Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Grp Ltd.
- Michelin
- Bridgestone Group
- Titan Tire Reclamation Corp
- Swani Rubber Industries
- High Tech Reclaim Pvt. Ltd.
- Aadish International
- Gangamani Enterprise
- Snr Reclamations Pvt. Ltd.
- Valencia Rubber Tech Llp
- Rolex Reclaim Pvt. Ltd.
- J. Allcock & Sons Ltd.
- Star Polymers Inc.
- Zenish Reclamation
- Genan Gmbh
- Balaji Rubber Industries Pvt. Ltd.
- Sapphire Reclaim Rubber Pvt. Ltd.
