Recycled Elastomers Market Analysis | 2023-2028

Market Insights

The Recycled Elastomers Market was estimated at US$ 3.74 billion in 2022 and is expected to grow at a healthy CAGR of 12.6% during 2023-2028 to reach US$ 7.65 billion in 2028.

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What is Recycled Elastomers?

Recycled elastomers refer to rubber materials that have undergone a process of reclamation and reuse to create new products. Elastomers are polymers with elastic properties, commonly found in materials like rubber. The recycling of elastomers involves collecting discarded rubber products, such as tires or industrial components, and processing them to break down the original structure. This reclaimed material is then used to produce new elastomeric products, contributing to sustainability efforts by reducing waste and the demand for virgin rubber. Recycled elastomers help mitigate environmental impact and promote a more circular and eco-friendly approach in the production of rubber-based goods.

Market Dynamics

As a result of the rapid surge in population, across the globe, there has been a simultaneous rise in infrastructure development, which is a major factor boosting the market growth. In addition, there has been a significant rise in government expenses, which has driven the infrastructural outlook of many countries.

Several new buildings, bridges, monuments, highways, hospitals, and other tourist sites have fostered the use of recycled elastomers and thereby, fueled the overall market growth. Furthermore, there has been a momentous increase in the recycling rate of industrial goods, largely because of the stringent regulations and norms set by the government, to reduce pollution or the emission of toxic materials into the air, which has also propelled the demand for recycled elastomers.

Segments Analysis

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By Raw Material Type

The recycled elastomers market is segmented into styrene butadiene rubber, nitrile butadiene rubber, propylene rubber, chloroprene rubber, natural rubber, polyurethane rubber, and others. Among these raw materials, nitrile butadiene rubber is estimated to account for a high share of the market, during the forecast period. All the raw materials in the recycled elastomers market have superior attributes, which make them multi-functional. Some of the properties are sunlight (UV ray) resistance, environment-friendly, durability, and cost-effectiveness. As a result, these products are used at a rapid pace, which drives the overall market growth.

By Application Type

The market is segmented into medical, agriculture, sports products, playground surfaces, infrastructure, home & garden, and others. Among these applications, the agriculture application is expected to grow at a significant pace in the market over the forecast period. Recycled elastomers help in increasing the efficiency and yield in the agricultural field. As agriculture is among the primary contributors to a country’s GDP, several countries are focused on the implementation of recycled elastomers to magnify their agricultural productivity, which also fuels market growth.

Regional Analysis

In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, Asia-Pacific is expected to be dominant throughout the forecast period. The market growth in this region is majorly attributed to the presence of a large number of various end-use application industries such as infrastructure, agriculture, medical, sports products, home & gardens among others. As a number of the countries in this region are developing at a fast pace, their respective governments are allocating large amounts of funds for the development of infrastructure, highways, hospitals, etc. Also, there are a large number of global sporting events that are being hosted by some countries in the region, which fuels the growth of the regional market.

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Key Players

Some of the key players in the recycled elastomers market are-

• American Recycling Center
• AMERICAN TIRE RECYCLING GROUP LLC.
• Emanuel Tire, LLC
• Entech Inc.
• GRP WEB
• J. Allcock & Sons Ltd
• Klean Industries
• LIBERTY TIRE RECYCLING
• Monmouth Rubber & Plastics Corp
• RubberGreen.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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