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Recycled Elastomers Market - Increased Competition Set To Drive: 2024

Author : Ronak Bora | Published Date : 2019-04-16 

Recycled Elastomers Market Based on region, North America and Europe will collectively hold more than 30% of the entire industry. Significant rise in personal income along with changes in living standards will supplement the sports products and infrastructure sectors. This will further augment the recycled rubber demand in these regions.

Significant FDI inflows in Asia Pacific region coupled with various initiatives taken by the government such as one belt one road plan, rural road linking with transport network will further bolster the entire road construction industry. The aforementioned trend is expected to follow in the near future as well and will positively influence the global recycled elastomer market demand in forecast timeframe.

 

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Recycled elastomers Market will surpass USD 6 billion by 2025; according to a new research report. Substantial development in road construction sector in emerging economies owing to the surge in automotive & transportation industry will subsequently boost the entire recycled elastomer market demand in forecast period as the product is widely used as an asphalt binder or an additive in modified bitumen for the formation of durable roads.

Around 75% of the recycled rubber is generated from the scrap tires and currently these tires are widely used as a source of energy in various industries include cement, steel, etc. rather than recycling. This will be act as a key hindering factor for the overall recycled elastomers market growth by 2024 due to competition in raw material availability.

Recycled elastomers market is segmented on the basis of raw material, application and region. The raw material segment is bifurcated into SBR, NBR, propylene rubber, chloroprene rubber, natural rubber, polyurethane rubber and others. In terms of revenue, propylene rubber will capture more than a fifth of the entire segment by 2024 due to its excellent chemical resistance features.

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The application segment in recycled elastomers market is segregated into medical, agriculture, sports product, playground surfaces, infrastructure, home & garden and others. Among these, playground surfaces will show the significant growth across the entire segment with a CAGR projection of around 10% in coming years. Extensive usage of the product for flooring purpose in playgrounds and parks due to superior abrasion and heat and water-resistant characteristics.

Recycled elastomers market is fragmented in nature as many medium and small-scale manufacturers are present across the globe. The key players in the industry are West Coast Rubber Recycling, American Recycling Center, GRP, American Tire Recycling, Emanuel Tire, Klean, Entech, OSHO SA RECYCLING, Green Environment Tires Recycle, Rolex Reclaim, etc.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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