The global recycled rubber market will reach 6.53 billion US dollars

May. 23, 2019

By 2026, the global recycled rubber market is expected to reach 6.53 billion US dollars, and the compound annual growth rate from 2019 to 2026 is 12.03%, which is mainly driven by the expanding automotive and aerospace industries.


I. Analysis of Application Areas


Whole tire reclaimed rubber (WTR) dominates the market. In 2018, North America occupied the vast majority of the global recycled rubber market.


Rising prices of natural rubber have forced automakers to turn to cheaper products, recyclable products or rubber blends.


The demand of tire industry is the main driving force for the development of recycled rubber industry.


Due to the need for weatherability and heat resistance of roof coverings, the consumption of recycled rubber in buildings is also large. The continuous growth of demand for floor mats in residential and other industries will further boost the demand for recycled rubber.


Due to aging resistance and fast processing, the application of recycled rubber in electronic and packaging industries is increasing year by year, which has a positive impact on its demand.


Moreover, regulations on recycling, sustainability and substitution of synthetic and natural gums have stimulated demand growth.


Consumers'preferences for materials with little environmental impact and low processing costs are increasing, which may further promote the development of the recycled rubber industry.


Recycled rubber blends have been used extensively by footwear, automobile and aviation tire manufacturers and other rubber mold manufacturers.


WTR is expected to become the fastest growing regenerated rubber variety due to its low processing cost, less environmental impact, high durability and versatility.


However, the report also predicts that the growth of recycled rubber will be limited by the emergence of new elastomer products. Regenerated rubber such as EPDM has gradually replaced the traditional natural rubber in the moulding of consumer goods and automobile tires.


II. Regional Analysis


The Asia-Pacific region is the largest regional market in the recycled rubber industry. The growth in the region is mainly due to the booming industrial manufacturing in developing countries such as China, India and Southeast Asia.


Compared with other regions of the world, the growth rate of developed countries is below average. In view of the application of recycled rubber in the rapidly growing automotive industry, considerable growth is expected in Europe and North America.


It is reported that the global renewable rubber market competition is fierce, its characteristics are that the market is more decentralized, with a large number of small-scale production enterprises.