Views:811 Author:Site Editor Publish Time: 2017-07-02 Origin:Site
Reclaimed Rubber Market is expected to reach the value of USD 3.75 billion in 2022
“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.
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 reclaims, 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 2017 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.
Asia-Pacific was the largest market for reclaimed rubber in 2016. Increasing automotive & aircraft industry, especially in India, China, and Thailand, are expected to remain a significant factor influencing demand within the forecast period. Another major factor boosting the Asia Pacific market is the increasing trend of key recyclers shifting their production bases to low-cost countries in the region. The ban on landfills in the developed regions has also led to producers focusing more on Asia Pacific. China is one of the large producers of rubber products, simultaneously a large manufacturer of waste rubber, including tires. Currently, China has explored a relatively mature mechanism to recycle and reuse waste tires, among which production of reclaimed rubber plays a major role.
North America and Europe have expected witness growth at below-average rates as compared to other regions across the globe. However, rebounding rubber market in the region, along with recovery in the automotive industry is likely to drive reclaimed tire consumption in North America & Europe.
Latin America is poised to witness decent growth in demand for reclaimed rubber on account favorable government regulations promoting recycling efforts & sustainable materials are expected to drive consumption in countries such as Argentina, Brazil, and even Venezuela. The Middle East and Africa represent a region with a huge potential for reclaimed rubber in future. Improving economic activity expected to boost the reclaimed rubber market in the region.