JERSEY CITY, N.J., May 7, 2024 /PRNewswire/ -- InsightAce Analytic
Pvt. Ltd. announces the release of a market assessment report on
the "Global Recycled Elastomers Market – (By Material
Type (Synthetic and Natural), Synthetic Type (Thermoset and
Thermoplastic), Thermoset (Recycled Rubber, Recycled Polyurethane,
and Other Thermosets), Thermoplastic (Styrenic Block Copolymers
(SBC), Thermoplastic Polyurethane (TPU), Thermoplastic Vulcanizate
(TPV), and Other Thermoplastics), Application (Automotive,
Industrial Facilities, Healthcare, Packaging, Construction,
Consumer Goods, and Other Application)), Trends, Industry
Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the
Global Recycled Elastomers Market is valued at US$
9.5 Bn in 2023, and it is expected to reach US$ 20.2 Bn by 2031, with a CAGR of
10.1% during the forecast period of 2024-2031.
Recycling elastomers is to lessen the amount of trash that ends
up in landfills and the damage that trash can do to the
environment. They describe a class of elastic polymers made from
materials that consumers once used.
A growing number of items in the automotive, construction, and
sports equipment industries are made with recycled elastomers. This
includes tyres, insulating materials, flooring, and athletic
surfaces. Demand for recycled elastomers is driven up by expansion
in these industries.
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In addition, the market for recycled elastomers is expected to
grow because eco-friendly elastomers are seeing increased demand
across a range of industries, driving up their demand in
particular. Companies are getting elastomer products recycled
because people are becoming more aware of the benefits of recycling
and because it's the greatest alternative to save money and
time.
Elastomeric scraps, including gaskets and tyres, are the
building blocks of recycled elastomers. There are a number of
environmental benefits to recycling, including a decrease in the
need for raw resources and less trash deposited on land. Also,
recycled elastomers are now more viable and high-quality than ever
before, which opens up a world of possibilities in industries like
construction, sports equipment, and automobiles, thereby boosting
market growth.
List of Prominent Players in the Recycled Elastomers
Market:
- Genan Holding Ltd.
- GRP LTD
- Kraton Corporation
- Eastman Chemical Company
- BASF SE
- Liberty Tier Recycling, LLC
- J. Allcock & Sons Ltd
- Austin Rubber Company, LLC
- Tire Disposal & Recycling
- Monmouth Rubber & Plastics
- Audia Elastomers
- Rubberfrom Recycled Products, LLC
- Rubber Green
- Emanual Tier, LLC
- ExxonMobil
- Zeon Corporation
- Versalis S.p.A.
- Dow, Inc.,
- PolyOne Corporation
- Kuraray Co., Ltd
- Texnor Apex Company
- Mitsubishi Chemical Advanced Materials
- Kraiburg TPE
- RTP Company
- Hexpol TPE
- Avient
- Other Market Players
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Recycled Elastomers Market Report Scope
Report
Attribute
|
Specifications
|
Market Size Value In
2023
|
USD 9.5 Bn
|
Revenue Forecast In
2031
|
USD 20.2 Bn
|
Growth Rate
CAGR
|
CAGR of 10.1 % from
2024 to 2031
|
Quantitative
Units
|
Representation of
revenue in US$ Bn, Volume (KT) and CAGR from 2024 to
2031
|
Historic
Year
|
2019 to 2023
|
Forecast
Year
|
2024-2031
|
Report
Coverage
|
The forecast of
revenue, the position of the company, the competitive market
structure, growth prospects, and trends
|
Segments
Covered
|
By Material Type,
Synthetic Type, Thermoset, Thermoplastic, And
Application
|
Regional
Scope
|
North America; Europe;
Asia Pacific; Latin America; Middle East & Africa
|
Country
Scope
|
U.S.; Canada; U.K.;
Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain;
Southeast Asia; South Korea
|
Market Dynamics:
Drivers-
The growing demand for recycled elastomers because of
sustainable materials is being increasingly adopted by industry in
response to rising environmental consciousness regarding concerns
like pollution and landfill trash. For environmental reasons,
governments throughout the world are getting tougher with waste
management and recycling laws in an effort to boost demand for
recovered elastomers, which help lessen the environmental impact of
new rubber production. Because of the regulatory climate, more and
more enterprises and municipalities are adopting it in their
pursuit of sustainability, and the reduction of carbon footprints
and advancements in technology, recycled elastomer manufacture has
become more efficient and of higher quality, which is driving the
market growth.
Challenges:
The current state of elastomer recycling technology needs to be
able to recover enough materials to satisfy the demanding
requirements of specific applications. Recycled elastomers are not
up to par for usage in high-end applications due to process
limitations that compromise their purity and other desirable
qualities. In addition, manufacturers feel uncertain due to the
absence of clear norms on the use and quality of recycled
elastomers. Moreover, installation and maintenance of recycled
elastomer systems can be trickier compared to other options, which
hinders the market's growth.
Regional Trends:
The Asia Pacific recycled
elastomers market is anticipated to record a large market share in
revenue. It is estimated to grow at a high CAGR in the near future
because there is a significant push towards sustainability, strict
environmental legislation, and regional technology breakthroughs
that have made elastomer recycling more efficient and practical,
which are factors expected to increase the growth of the recycled
elastomers market in the region. Besides, North America had a remarkable share in the
market due to the building industry using recycled elastomers,
businesses embracing sustainable methods, and a well-established
system for collecting and processing recycled materials, and the
constant technical advances to grow the global recycled elastomers
market.
Recent Developments:
- In April 2023, KRAIBURG TPE
introduced its environmentally friendly THERMOLAST® R TPE for the
Asia Pacific region. The TPE
series incorporated a maximum of 35% post-consumer recycled (PCR)
material, with the amount varying depending on the hardness. The
latest environmentally-friendly thermoplastic elastomers (TPEs)
have been introduced to the consumer market and adopted by The
First Thai Brush Co. Ltd, Thailand's prominent toothbrush producer, for
their innovative Victory toothbrush.
- In July 2023, Avient Corporation
introduced two new reSound™ REC Recycled Content Thermoplastic
Elastomers (TPEs). The latest grades for car interior applications
were developed using post-consumer recycled (PCR) content, offering
a more environmentally friendly thermoplastic elastomer (TPE)
alternative that erforms similarly to conventional TPEs.
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Segmentation of Recycled Elastomers Market-
By Material Type-
By Synthetic Type-
By Thermoset-
- Recycled Rubber
- Recycled Polyurethane
- Others
By Thermoplastic-
- Styrenic Block Copolymers (SBC)
- Thermoplastic Polyurethane (TPU)
- Thermoplastic Vulcanizate (TPV)
- Others
By Application-
- Automotive
- Industrial Facilities
- Healthcare
- Packaging
- Construction
- Consumer Goods
- Others
By Region-
North America-
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and
Africa
Why should buy this report:
- To receive a comprehensive analysis of the prospects for global
Recycled Elastomers market
- To receive industry overview and future trends of global
Recycled Elastomers market
- To analyze the Recycled Elastomers market drivers and
challenges
- To get information on the Recycled Elastomers market size value
(US$ Mn) forecast till 2031
- Major Investments, Mergers & Acquisition in global Recycled
Elastomers industry
Other Related Reports Published by InsightAce
Analytic:
Thermoformed Plastics Market
Bio-Based Elastopan Polyurethane Market
Recyclable Thermoset Market
Silicone Elastomers Market
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