The global reclaimed rubber market is expected to reach a market valuation of USD 1.24 billion by 2023, accelerating with a CAGR of 11.3% from 2023 to 2033. The market is anticipated to be valued at about USD 3.64 billion by 2033.
Drivers in the Reclaimed Rubber Industry:
Challenges for Companies in the Reclaimed Rubber Industry:
Investment Opportunities in the Reclaimed Rubber Industry:
Latest Trends in the Reclaimed Rubber Industry:
The increase in demand for repurposed rubber from several end-use industries like the production of automotive and aircraft tires, footwear, belts and hoses, molded rubber goods, and retreading in recent years has been fueled by favorable regulations adopted by governments around the world to encourage sustainable materials as an alternative to traditional virgin rubber. In the upcoming years, market demand for reclaimed rubber is anticipated to increase due to the accessibility of discarded tires and the affordability of reclaimed rubber.
| Attributes | Value |
|---|---|
| Reclaimed Rubber Market Share (2023) | USD 1.24 billion |
| Reclaimed Rubber Market Projected Size (2033) | USD 3.64 billion |
| Reclaimed Rubber Market Growth (CAGR 2023 to 2033) | 11.3% |
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The fabrication of car tires makes extensive use of recycled rubber. Repurposed rubber is used in the automobile industry to make hoses, gaskets, seals, and tire inner liners. To increase its resistance to chemicals and aging, recycled rubber is also used to manufacture pharmaceutical goods and footwear, including stoppers, shoe soles, heels, liners, and rubber items. Other uses for recycled rubber include conveyor belts, safety gear, and tank wall cladding.
Utilizing reused rubber has benefits, including increased heat resistance, cure flexibility, improved cure rate, better impermeability, and superior adhering properties. Timely use of recycled rubber also gives car tires stable inflation pressure, a long life span, and heat stability. Such elements are anticipated to fuel the demand for reclaimed rubber in several industries.
In the approaching years, industry participants may anticipate benefiting from a wide range of development prospects due to the shifting pattern for rubber recovery to increase its sustainability. Additionally, during the projection period 2023 to 2033, the market participants would benefit from growing consumer awareness of the affordable and environmentally favorable alternatives to virgin rubber.
With its low cost and accessibility, reclaimed rubber is also frequently sought by manufacturers for its decreased thermal plasticity and lower power consumption rates. Compared to synthetic rubber, reclaimed rubber allows simpler treatment during the breakdown stage. The demand for whole tire reclaim (WTR), which is rising, is another notable development in the global recovered rubber industry that will contribute to the future expansion of the market opportunities.
The variable cost of raw materials (crude materials) might impede market expansion. For instance, the crude oil price uncertainty has recently increased, according to BP's Statistical Review of World Energy. The growth in demand for reclaimed rubber is expected to be challenged by the variability in raw material costs.
Additionally, the rising worries about the harm that used rubber disposal in waterways are causing to the environment may restrain market expansion. Further, Adaptive processing is expected to result in unforeseen natural compound (VOC) contamination restrictions that can hinder the expansion of the market for recycled rubber.
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As per the new research report on sales of reclaimed rubber, the market's largest product type segment is figured out to be WTR. Moreover, due to its attributes like excellent ozone resistance and enhanced speed extrusion, EPDM is also anticipated to significantly expand during the forecast years.
Using recycled rubber in conjunction with natural rubber to create various end products has also significantly increased in popularity. Reclaim rubber with natural reinforcement has a very good structure, elastic modulus, curative, viscoelastic, and thermal characteristics. The main goal of creating such a mix is to generate an acceptable composite at a reasonable cost.
With significant income production over the past several years, automobile and aircraft tires are one of the reclaimed rubber industries' fastest-expanding end-use segments. The rising demand for original equipment manufacturer (OEM) tires from the Asia Pacific area is responsible for the growing sales of reclaimed rubber in the automobile and aircraft tire sectors. Due to the high-end demand for shoe soles, heels, and liners, the footwear market has also experienced significant development.
The demand for airplane tires has hiked throughout the expanding global logistics industry, and increased passenger travel after the regional and national visa requirements are easing. Under the scrutiny of airworthiness regulators like the EASA and FAA, tire firms like Dunlop Tires provide tire retreading services to aviation industries. Thus, it is anticipated that the segment would benefit from the expanding aviation sector and the high price of replacing aircraft tires.
The Asia Pacific region is the dominant region for the said market, with almost 35% of the global revenue share.
Due to their enormous rubber tire manufacturing units, Asian nations, including China, Indonesia, Vietnam, Thailand, India, and Japan, are anticipated to become the main growing markets for reclaimed rubber during the forecast period. Additionally, due to rising sales of personal vehicles and technology transfer into the industry, China and India have recently seen a rapid increase in automotive production. This development is anticipated to boost demand for rubber tires and positively impact the market trends as well.
Due to several projects like the BlackCycle project launched in Western European countries, the sales of reclaimed rubber in Europe are predicted to expand throughout the projected period. The BlackCycle project is financially backed by the European Union's Horizon 2020 program and was initiated in May 2020. It aims to establish and optimize a full value chain of reclaimed rubber from end-of-life feedstocks like tire waste to second-generation raw materials (SRM). It would be further employed to create a new line of tires for commercial vehicles and passenger cars to sell profitably in the European and international markets.
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Several market participants have worked with chemical producers to create new goods from recycled tires. For instance, many aviation corporations have agreements with tire manufacturing firms to replace tires as needed rather than buying them themselves. Given the high cost of aircraft tires, retreading is a popular activity and is predicted to be the most lucrative segment for the market players.
How is the Start-up Ecosystem in the Global Reclaimed Rubber Industry?
Particularly in developing countries, the industry is characterized by numerous small-scale industrial producers with outdated manufacturing techniques and constrained capacity. This has given new industry players with superior processing techniques a strategic advantage.
Recent Developments in Global Reclaimed Rubber Industry
The market is estimated to secure a valuation of US$ 1.24 billion in 2023.
The market is estimated to reach US$ 3.64 billion by 2033.
The rubber industry holds high revenue potential.
China, Indonesia and the United Kingdom dominate the global market.
The market is forecast to register a CAGR of 11.3% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Machine Type 5.1. Whole Tire Reclaim Rubber 5.2. Butyl Reclaim Rubber 5.3. EPDM Reclaimed Rubber 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 6.1. Automotive & Aircraft Tires 6.2. Re-treading 6.3. Belts & Hoses 6.4. Footwear 6.5. Moulded Rubber Goods 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. GRP Ltd 17.2. J. Allcock & Sons Ltd 17.3. Rolex Reclaim PVT. Ltd. 17.4. Fishfa Rubbers Ltd. 17.5. HUXAR 17.6. Tianyu (Shandong) Rubber & Plastic Products Co., Ltd. 17.7. Swani Rubber Industries 17.8. Minar Reclamation Private Limited 17.9. SRI Impex PVT. Ltd. 17.10. SNR Reclamations PVT. Ltd. 17.11. High Tech Reclaim PVT. Ltd. 17.12. Balaji Rubber Industries (P) Ltd. 17.13. Star Polymers Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Reclaimed Rubber Market
