Global Reclaimed Rubber Market, By Product (Whole Tire Reclaim (WTR), Butyl Reclaim, Ethylene Propylene Diene Monomer (EPDM), Drab and Colored, Others), Application (Tire, Non-Tire), End Users (Automotive and Aircraft, Cycle Tyre, Retreading, Belts and Hoses, Footwear, Molded Rubber Goods, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, the car tyre business has benefited greatly from a shift toward rubber recycling to promote sustainability. The increasing demand for whole tyre reclaim (WTR) is a prominent trend in the global market for reclaimed rubber, and it is expected to contribute considerably to the industry over the forecasted period.
Global Reclaimed Rubber Market was valued at USD 2931.50 million in 2021 and is expected to reach USD 6658.98 million by 2029, registering a CAGR of 10.80% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Reclaimed rubber is cured rubber that has been softened and swelled through a thermo-chemical process. The viscosity of the rubber is reduced by mechanical shear and chemical action, which shortens the polymer chain. The whole tyre reclaim (WTR), drab and colored, butyl reclaim, and ethylene propylene diene monomer (EPDM) are some of the different types of reclaimed rubber available on the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Whole Tire Reclaim (WTR), Butyl Reclaim, Ethylene Propylene Diene Monomer (EPDM), Drab and Colored, Others), Application (Tire, Non-Tire), End Users (Automotive and Aircraft, Cycle Tyre, Retreading, Belts and Hoses, Footwear, Molded Rubber Goods, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Fishfa Rubbers Ltd (Gujarat), GRP LTD (Mumbai), Rolex Reclaim Pvt. Ltd (Gujarat), Sun Exim (India), Swani Rubber Industries (India), HUXAR (India), Minar Reclamation Pvt. Ltd (India), Miracle Rubbers (India), Genan (Denmark), MICHELIN (France), Revlon Rubbers Private Limited (India), High Tech Reclaim Pvt. Ltd (India), Mitsubishi Chemical Holdings Corporation (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), Corprate.Evonik (Germany), Ashland, (U.S.) and Mapei SpA (Italy)
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Market Opportunities
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Reclaimed Rubber Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand Across End Users
Reclaimed rubber products are in high demand in many industries, including automotive, consumer goods, aerospace, footwear and others. The expansion of these industries in emerging markets has provided a significant boost to market growth across the globe. Moreover, the use of reclaimed rubber in the manufacture of extruded products such as drain tubes and pump discharge hoses is also driving the market. Product demand is being boosted by the increasing use of reclaimed rubber in the manufacturing of footwear and increased aspiration-based purchasing. Rising demand for whole tyre reclaim (WTR) is a significant trend in the global reclaimed rubber market, and it is expected to significantly contribute to market growth over forecasted period.
The surging per capita income will further propel the growth rate of reclaimed rubber market. Additionally, because of its ability to protect against heat and bright light, the growing automobile industry is fueling interest in reclaimed rubber, which will also drive market value growth. The expansion of the automotive industry and the demand for tires are projected to bolster the market's growth.
Opportunities
- Awareness and Trends
Furthermore, the surging consumer awareness regarding the cost-effective and eco-friendly alternatives for virgin rubber extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, soaring demand for whole tyre reclaim (WTR) is a noticeable trend in the global market for reclaimed rubber, which will further expand the reclaimed rubber market's future growth.
Restraints/Challenges
- Contamination Guidelines
The unanticipated natural compound (VOC) contamination guidelines as a result of flexible handling will create hindrances for the growth of the reclaimed rubber market.
- Fluctuating Raw Material Prices
Also, the fluctuating raw material costs (crude material) might stymie market growth. For instance, According to the BP Statistical Review of World Energy, crude oil price volatility has increased in recent years, with prices falling from $98.95/bbl in 2014 to $52.39/bbl in 2015, rising from $43.73/bbl in 2016 to $71.31/bbl in 2018, and then falling to $64.21/bbl in 2019 and $41.84/bbl in 2020. Therefore, the fluctuation in raw material prices will pose as a challenge the reclaimed rubber market growth rate.
Furthermore, the growing concerns about environmental damage caused by dumping used rubber in rivers may limit market growth.
This reclaimed rubber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the reclaimed rubber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Reclaimed Rubber Market
The recent outbreak of coronavirus had a negative impact on the reclaimed rubber market, causing a significant portion of the assembly line to be shut down for a short time. During the pandemic, automotive production and demand were both impacted. According to the China Passenger Car Association (CPCA), China's passenger car sales fell 6.5 percent to 1.68 million units in June compared to the same month last year. In addition, Toyota Motor Corporation reported a 26 percent YoY sales decline, with May unit sales nearly double those of April, which fell 56 percent YoY. The decrease in automotive production has resulted in a significant drop in demand for automotive tyres, which has significantly impacted the reclaimed rubber market.
However, with the declining COVID cases, the government lifted off restrictions, which is estimated to revive in market’s growth. Moreover, the suspended and cancelled operations will continue and as a result the market is estimated to flourish at the same rate as pre-pandemic levels.
Recent Development
- In April 2021, Bridgestone Corporation (Bridgestone) announced a USD 135.90 million investment to upgrade facilities at its Shimonoseki Plant, which manufactures tyres for mining and construction vehicles. Installation is set to begin in 2022 and conclude in 2025. The new equipment will improve safety, disaster preparedness, environmental friendliness, quality, and productivity. Bridgestone Corporation is expected to increase its production of reclaimed rubber in the coming years.
- In October 2021, Ecolomondo Corporation, a well-known cleantech company that commercialises its Thermal Decomposition Process recycling technology and turnkey TDP facilities for converting tyres, plastics, and other hydrocarbon waste streams into renewable commodities, has signed a long-term supply agreement with Recyc-Quebec. Ecolomondo will deliver more than 31,000 short tonnes of end-of-life tyre feedstock to the Hawkesbury TDP recycling facility under this agreement (roughly 80% passenger tyres and 20% truck tyres).
Global Reclaimed Rubber Market Scope
The reclaimed rubber market is segmented on the basis of product, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Whole Tire Reclaim (WTR)
- Butyl Reclaim
- Ethylene Propylene Diene Monomer (EPDM)
- Drab and Colored
- Others
Application
- Tire
- Non-Tire
End Users
- Automotive and Aircraft
- Cycle Tyre
- Retreading
- Belts and Hoses
- Footwear
- Molded Rubber Goods
- Others
Reclaimed Rubber Market Regional Analysis/Insights
The reclaimed rubber market is analyzed and market size insights and trends are provided by country, product, application and end users as referenced above.
The countries covered in the reclaimed rubber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the reclaimed rubber market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The surging growth of market is attributed to the rising interest for autos combined with expanded spending on vehicles.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029 due to the presence of a large number of reclaimed rubber manufacturers in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Reclaimed Rubber Market Share Analysis
The reclaimed rubber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to reclaimed rubber market.
Some of the major players operating in the reclaimed rubber market are
- Fishfa Rubbers Ltd (Gujarat)
- GRP LTD (Mumbai)
- Rolex Reclaim Pvt. Ltd (Gujarat)
- Sun Exim (India)
- Swani Rubber Industries (India)
- HUXAR (India)
- Minar Reclamation Pvt. Ltd (India)
- Miracle Rubbers (India)
- Genan (Denmark)
- MICHELIN (France)
- Revlon Rubbers Private Limited (India)
- High Tech Reclaim Pvt. Ltd (India)
- Mitsubishi Chemical Holdings Corporation (Japan)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Corprate.Evonik (Germany)
- Ashland, (U.S.)
- Mapei SpA (Italy)
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