According to the Market Statsville Group (MSG), the global reclaimed rubber market size is expected to grow from USD 1,231.5 million in 2021 to USD 3,049.5 million by 2030, at a CAGR of 10.6% from 2022 to 2030. Reclaimed rubber is used as a replacement for natural and synthetic rubber. Reclaim rubber from a scrap of a full tire; tread peelings, natural rubber tubes used for various tires and rubber goods applications. Reclaiming or recycling is the most often used method for fractional recycling and using scrap rubber. The most popular extant reclamation principle is the thermal-oxidative or turgid vulcanized rubber breakdown. Reclaimed rubber is used in various products, including automobile and aircraft tires, footwear, bicycle tires, molded rubber items, belts and hoses, and retreading.
Rubber recycling to increase sustainability considerations in the automobile tire business has greatly contributed to the sector’s worldwide expansion. Because of its lower thermal plasticity and lower power consumption rate, manufacturers often select this less expensive raw material for tires. When opposed to its synthetic cousin, such qualities make it easier to break down throughout the processing step. Increased availability of discarded or waste tires and lower reclaim rubber costs have contributed to industry expansion in recent years.
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COVID–19 Impact on the Global Reclaimed Rubber Market
The global reclaimed rubber industry has suffered a minor decline in sales in the near term due to government-imposed lockdowns to prevent the spread of COVID. Rubber sales are projected to fall globally as a result of rising illnesses and limitations. Paints and coatings, adhesives, composites, and electronic encapsulating sectors have been shut down across all economies due to the pandemic, potentially limiting production and consumption. However, throughout the pandemic, there has been an increase in product demand for applications like paints and coatings, and polymers, which gives an opportunity post covid.
Global Reclaimed Rubber Market Dynamics
Drivers: Self-administered pen injectors are becoming more popular
The rising popularity of self-administered pen injectors, reclaimed rubber, and auto-injectors are also expected to boost the Reclaimed Rubber market. Furthermore, Reclaimed Rubber has several advantages, including precise dosage, the convenience of administration, and a lesser chance of contamination. Reclaimed rubber has several advantages over standard distribution systems, including precise dosage, increased safety, decreased chance of contamination, and convenience of administration. These advantages laid the framework for the development of reclaimed rubber and are projected to grow the reclaimed rubber industry in the coming years.
Restraints: High price of manufacturing
The accessibility of other forms of drug delivery, as well as the high cost of manufacturing Reclaimed Rubber, may limit the market’s growth in the coming years. Moreover, the appearance of innovative elastomer-based products has considerably reduced demand.
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Opportunities: Benefits offered by Reclaimed Rubber
The increasing demand for the whole tire reclaim (WTR) in the worldwide market for reclaimed rubber is a prominent trend expected to contribute considerably to the industry in the coming years. The high demand stems from its exceptional adaptability and durability, low production costs, and little environmental effect. Increased recycling initiatives by manufacturers and consumers alike will result in more recycled materials being available for use in production processes, such as recovering rubber from old tyres or other sources like used conveyor belts or conveyor belt material, driving growth in this market during the forecast period.
Scope of the Global Reclaimed Rubber Market
The study categorizes the reclaimed rubber market based on product and end-use at regional and global levels.
By Product Outlook (Sales, USD Million, 2017–2030)
- Whole Tire Reclaim Rubber
- Butyl Reclaim RubberSL
- EPDM Reclaimed Rubber
By End-use Outlook (Sales, USD Million, 2017–2030)
- Automotive & Aircraft Tires
- Belts & Hoses
- Molded Rubber Goods
By Region Outlook (Sales, USD Million, 2017–2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
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Asia Pacific accounts for the largest market share by Region
Based on the regions, the global reclaimed rubber market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific region dominated the market with the largest share due to its enormous rubber tire manufacturing; Asian nations such as China, Indonesia, Vietnam, Thailand, India, and Japan are likely to emerge as the main growth markets for recycled rubber. Furthermore, due to rising disposable income among the middle-class population and technology transfer from Western markets, China and India witnessed rapid growth in automotive production in recent years, expected to drive rubber tires demand and positively influence the reclaimed rubber market. Many developed and rising economies can be found in Asia, including Singapore, Australia, India, China, and Japan. This region has become a valuable market for the IT industry thanks to the high adoption rate of new technology. Due to this reason, the reclaimed rubber market in the Asia Pacific is expected to grow at the highest rate.
Key Market Players in the Global Reclaimed Rubber Market
The global reclaimed rubber market is highly competitive, with key industry players adopting strategies such as partnerships, product development, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.
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Major players in the global reclaimed rubber market are:
- GRP Ltd
- J. Allcock & Sons Ltd
- Rolex Reclaim Pvt. Ltd.
- Fishfa Rubbers Ltd.
- Tianyu (Shandong) Rubber & Plastic Products Co., Ltd.
- Swani Rubber Industries
- Minar Reclaimation Private Limited
- SRI Impex Pvt. Ltd.
- SNR Reclamations Pvt. Ltd.
- High Tech Reclaim Pvt. Ltd.
- Balaji Rubber Industries (P) Ltd.
- Star Polymers Inc.