DUBLIN, April 14, 2023 /PRNewswire/ — The “Global Reclaimed Rubber Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Application, End-User, and Region” report has been added to ResearchAndMarkets.com’s offering.
Global Reclaimed Rubber Market was valued at ~US$ 1 billion in 2017, it is estimated to be ~US$ 2 billion in 2022 and is forecasted to reach a market size of ~US$ 4 billion opportunities by 2028 at a CAGR of ~12% during 2022-2028. Reclaimed rubber requires less energy consumption, and is cost-effective which drives the growth of the market.
The increasing demand for tires and tubes in the automotive industry is driving the global reclaimed rubber market. According to the International Organization of Motor Vehicle Manufacturers (OICA), an organization working in the interest of vehicle manufacturers and assemblers stated that vehicle production increased by 3% from 2020 to 2021 after declining by 13% from 2019 to 2020. Thus, the increasing production of motor vehicles is driving the demand for tires, which is likely to act as a driver for the reclaimed rubber market
Devocalization or depolymerization of waste rubber will likely result in the degradation of the physical properties of rubber. Devocalization is a process through which vulcanized waste rubber is transformed into the state in which it can be vulcanized, after mixing and processing. Degradation of rubber can range up to 30 to 70% from the virgin state. A higher level of application such as tires from waste rubber is limited to use after the degradation of a material.
COVID-19 has decelerated the growth of the reclaimed rubber market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, and decline in vehicle sales numbers. But as the market is recovering and restrictions are easing down, it is estimated that the Reclaimed Rubber market will recover shortly.
According to the International Organization of Motor Vehicle Manufacturers (OICA), stated that Europe vehicle production declined by 24% from 2019 to 2021, and American vehicle production declined by 20% from 2019 to 2021. The decrease in the demand for vehicles during COVID-19 impacted the sales of automotive tires, which significantly impacted the reclaimed rubber market.
Competitive Landscape:
The global reclaimed rubber market is highly competitive with ~200 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in reclaimed rubber manufacturing and distributing to multiple end-user industries
Country niche players held the largest market share by type. While large global players control about 10% of the market share by type. Some of the major players in the market include GRP Limited, Fishfa Rubbers Ltd., Huxar Reclamation, Genan Holding Limited, Star Polymers Inc., Enviro Systems AB, J. Allcock & Sons Ltd, Evonik, S. E. Power Limited, Swani Industries, and others
Conclusion
The global reclaimed rubber market witnessed significant growth during the period 2017-2021, the rising automotive tire industry, and increasing demand for low-cost and sustainable tires are driving the growth of the reclaimed rubber market. The growth rate is expected to remain significant during the forecast period.
Though the market is highly competitive with ~200 participants, the majority of country-niche players dominate the market share by type, and global players also hold a significant share.
Key Topics Covered in the Report
- Snapshot of Global Reclaimed Rubber Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Reclaimed Rubber Market
- Historic Growth of the Overall Global Reclaimed Rubber Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Reclaimed Rubber Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Reclaimed Rubber Market
- Future Market Forecast and Growth Rates of the Total Global Reclaimed Rubber Market and by Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Reclaimed Rubber Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
A selection of companies mentioned in this report includes
- Key Players
- GRP Limited
- Fishfa Rubbers Ltd.
- Huxar Reclamation
- Genan Holding Limited
- Star Polymers Inc.
- Enviro Systems AB
- J. Allcock & Sons Ltd
- Evonik
- S. E. Power Limited
- Swani Industries
- Tianyu (Shandong) Rubber & Plastic Products Co., Ltd
- BIG ATOM Limited
- G3C Technologies Corporation
- Carbon Recovery GmbH
- Rubber Conversion srl
Scope of the Report
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
By Type
- Whole Tire Reclaimed Rubber
- Butyl Reclaimed Rubber
- EPDM Reclaimed Rubber
- Drab & Colored Reclaimed Rubber
- Others
By Application
- Tire
- Non-Tire
By End-User
- Automotive & Aircraft Tires
- Retreading
- Belts & Hoses
- Footwear
- Molded Rubber Goods
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/rt7ts3
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