Recycled Elastomers Market Share, Trends, Analysis and Forecast, 2025
Global Market Insights, Inc., estimates that global recycled elastomers market size will be worth more than US$6 billion by 2025.
Rapid expansion of global road construction activities in developing regions will drive recycled elastomers market forecast over the coming years. This can be mainly attributed to the robust growth of global automotive and transportation sector. Recycled elastomers are predominantly used as an additive or an asphalt binder in modified bitumen for the construction of durable roads and other surfaces.
Global Market Insights, Inc., estimates that global recycled elastomers market size will be worth more than US$6 billion by 2025. The industry share is classified on the basis of raw material, application and region. The raw material segment is further segmented into natural rubber, chloroprene rubber, polyurethane rubber, propylene rubber, NBR, SBR, and others.
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Competition in the availability of raw materials is anticipated to be a major factor hampering the demand for recycled elastomers in the future. Statistically, about 75% of recycled rubber is obtained from scrap tires. These tires find extensive application as a source of energy in numerous end-use industries such as cement and steel.
Propylene rubber segment is projected to account for more than one-fifth revenue share in global recycled elastomers market by 2024. This can be linked with advantages such as excellent chemical resistance. Based on application, recycled elastomers industry share is segmented into sports products, agriculture, medical, playground surfaces, home & garden, infrastructure and several others.
Playground surfaces application segment is estimated to register a robust 10% CAGR over 2018-2025. Recycled elastomers are widely sued in flooring purposes in parks and playgrounds on account of characteristics such as superior resistance to abrasion, heat, and water.
Considering the geographical landscape, Europe and North America will jointly capture more than 30% revenue share in global recycled elastomers industry size. There is a strong demand for sports products equipment and accessories across developed regions. A considerable rise in the personal incomes of consumers along with shifting lifestyle trends will fuel the regional sports and infrastructure sectors, driving the demand for recycled rubber.
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Asia Pacific countries are witnessing substantial FDI inflows for the development of the regional infrastructure sector. Moreover, the governments have undertaken various favorable initiatives such as the rural road linking with transport network initiative and the one belt one road plan to improve the existing road infrastructure. These trends will certainly accelerate the demand for recycled elastomers due to extensive application in road construction.
Global recycled elastomers market is highly fragmented in nature due to the presence of multinational giants as well as medium and small-scale manufacturers. American Recycling Center, West Coast Rubber Recycling, American Tire Recycling, American Tire Recycling, Entech, Klean, Emanuel Tire, Rolex Reclaim, and Green Environment Tires Recycle are some of the major industry participants.
Strategic mergers and acquisitions have been key tactics adopted by these companies to gain a solid foothold in the market. In addition, manufacturers are constantly exploring collaboration opportunities to boost their market presence. Many of these companies are also adopting strategies such as new product launches and the expansion of manufacturing plant capacity to gain a competitive edge.
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