Reclaimed Rubber Market to Increase by USD 2.08 Billion from 2024 to 2028, AI-Driven Advancements Propel Market Growth - Technavio Report

NEW YORK, Aug. 30, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global reclaimed rubber market size is estimated to grow by USD 2.08 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.89%  during the forecast period. Benefits of reclaimed rubber is driving market growth, with a trend towards growing use of e-commerce sites to purchase reclaimed rubber. However, high availability of substitutes  poses a challenge. Key market players include Balaji Rubber Industries Pvt. Ltd., ELGI Rubber Co. Ltd., Fishfa Rubbers, Gomo International, GRP Ltd., High Tech Reclaim Pvt. Ltd., HUXAR, J. Allcock and Sons Ltd., Lead Reclaim and Rubber Products Ltd., Minar Reclaimation Pvt. Ltd., Rolex Reclaim Pvt. Ltd., Samsara Rubber Reclaimers LLP, Sapphire Reclaim Rubber Pvt. Ltd., Sarvoday Rubber Corp., Shanghai Fuyou International Trade Co. Ltd., SINO RUBBER, Star Polymers Inc., Swani Rubber Industry, VASUDEV RUBBER INDUSTRIES, and Zenish Reclamation.

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Market Driver

The Reclaimed Rubber Market is experiencing steady growth due to increasing demand for sustainable and eco-friendly products. Companies are turning to reclaimed rubber as a cost-effective alternative to virgin rubber. Reclaimed rubber is produced from recycled tires and industrial scraps, making it an environmentally responsible choice. Its versatility allows it to be used in various industries, including automotive, construction, and consumer goods. The market is expected to continue expanding as more businesses prioritize sustainability in their operations. 

The reclaimed rubber market is experiencing significant growth due to increasing demand from various industries. General Motors and Rubber-Cal are key players in the automotive sector, utilizing reclaimed rubber for tire retreading in commercial vehicles, pickup trucks, and even the popular F-Series truck. Butyl reclaim rubber and EPDM rubber are popular forms used in tire retreading. Bicycle tires and aircraft tires also contribute to the market, with companies like TireRecycling leading the way in aviation industry applications. Conductive elastomer and ReUz rubber tiles are other applications, made from tire scraps, tread peelings, and end-of-life tires. Synthetic rubber, copolymer, and diene component are essential raw materials in producing recycled rubber forms, such as granules, crumb, and powder. The middle-class population's growing demand for consumer goods, safety gear, conveyor belts, and building materials further fuels the market. Technology transfer from virgin rubber to recycled materials is a trend in the aerospace industry. Reclaimed rubber is used in various industries, including footwear, pharmaceutical goods, advertising, and OEM tires. The recycled rubber market is expected to continue growing, with the potential for new applications and partnerships. 

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Market Challenges

• The reclaimed rubber market is a significant sector in the global rubber industry. Reclaimed rubber is produced from recycling scrap rubber from various sources, such as industrial waste and end-of-life tires. Demand for reclaimed rubber is driven by its cost-effectiveness and eco-friendly attributes. Major applications include the manufacturing of new tires, rubber mats, and industrial products. Producers and consumers alike benefit from the consistent supply and competitive pricing in this market. Reclaimed rubber is an essential component in the circular economy, contributing to resource conservation and waste reduction.
• The reclaimed rubber market faces several challenges in the use of end-of-life tires for various industries. Synthetic rubber, made from copolymers of diene components, competes with virgin rubber in the market. However, recycled rubber forms like granules, crumb, and powder offer cost-effective solutions for industries such as aviation, footwear, building materials, pharmaceutical goods, safety gear, and conveyor belts. The aerospace and consumer goods sectors increasingly use recycled rubber in aircraft and advertising. Tire recycling companies like TireRecycling offer technology transfer for whole tire reclaim, buttyl reclaim, and OEM tires. Nontire products, including molded goods, adhesives, matting, profiles, and roofing, also utilize recycled rubber. Despite these opportunities, challenges remain in the availability of consistent quality recycled rubber, particularly from waste tires, and the competition with virgin rubber.

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Segment Overview 

This reclaimed rubber market report extensively covers market segmentation by  

1. Type 
• 1.1 Whole tire reclaim rubber
• 1.2 Butyl reclaim rubber
• 1.3 EPDM reclaim rubber
• 1.4 Others
2. Application 
• 2.1 Tire
• 2.2 Non-tire
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Whole tire reclaim rubber-  Reclaimed rubber is derived from the end of tires and thread peeling, resulting in various grades suitable for diverse applications. These include automotive tires, conveyor belts, rubber sheets, rubber molded goods, and transmission belts. Reclaimed rubber offers environmental sustainability by utilizing recycled tire rubber, reducing waste, and promoting eco-conscious practices. Its superior elasticity and resilience ensure excellent durability and performance in manufacturing. Additionally, reclaimed rubber is a cost-effective solution for sustainable manufacturing, offering significant savings without compromising quality. Its versatility in applications across industries ensures consistent performance, making it an attractive option for numerous sectors. These features will fuel the growth of the reclaimed rubber market during the forecast period.

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Research Analysis

The Reclaimed Rubber Market encompasses the production, trade, and utilization of recycled rubber derived from waste tires and virgin rubber. Reclaimed rubber is obtained through various processes such as tire retreading, butyl reclaim rubber, and EPDM rubber production. This versatile material finds extensive applications in various industries, including Commercial Vehicles, Pickup Trucks, and the F-Series truck segment. Reclaimed rubber forms like granules, crumb, powder, and recycled rubber sheets are used in industries such as Aviation, Aircraft, Conveyor Belts, Building Materials, Footwear, Consumer Goods, Pharmaceutical Goods, Safety Gear, and more. Applications extend to Bicycle tires, Conductive Elastomer, and Aerospace. The market growth is driven by the increasing focus on sustainability and the need to reduce waste rubber. TireRecycling plays a crucial role in the value chain by collecting, processing, and supplying reclaimed rubber to various industries.

Market Research Overview

The Reclaimed Rubber Market encompasses the production, sale, and utilization of recycled rubber derived from End-of-Life Tires (ELTs), Tire Scraps, Tread Peelings, and other Waste Rubber. Reclaimed Rubber is obtained through various processes, including Tire Retreading, Butyl Reclaim Rubber, and EPDM Rubber production. This versatile material finds applications in numerous sectors, such as Commercial Vehicles, Pickup Trucks, and F-Series Trucks, as well as in the Aviation Industry for Aircraft Tires and Conductive Elastomer. Reclaimed Rubber also serves key industries like Footwear, Building Materials, Pharmaceutical Goods, Safety Gear, Conveyor Belts, and Aerospace. Its forms include granules, crumb, and powder, and it is used in OEM Tires, inner liners, inner tubes, tire sidewalls, tire plies, and Nontire Products like molded goods, adhesives, matting, profiles, and roofing. The Middle-Class Population's growing demand for Recycled Materials and Technology Transfer from Virgins Rubber to Recycled Rubber are significant market drivers. Advertising efforts by companies like TireRecycling, Butyl Reclaim, Whole Tire Reclaim, and TireRecycling further fuel market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Whole Tire Reclaim Rubber
• Butyl Reclaim Rubber
• EPDM Reclaim Rubber
• Others
• Application
• Tire
• Non-tire
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio