Showing posts with label Scrap and Disposed Materials Dealers. Show all posts
Showing posts with label Scrap and Disposed Materials Dealers. Show all posts

Monday, October 17, 2022

3 Key Insights on the US$ 4 Billion Opportunity in Global Reclaimed Rubber Market: Ken Research

Driven by the Rising Automotive and Aerospace Industry, and Shifting Trend Towards Sustainable Material Products, the Global Reclaimed Rubber is forecasted at approximately US$ 4 Bn by 2028 says Ken Research Study

Reclaimed rubber is a material manufactured from scrap or waste rubber, through the softening and plasticizing process. Reclaiming is a process in which scrap rubber waste is converted, using mechanical and chemical processes into a state in which it can be mixed, processed, and vulcanized again. Reclaimed rubber is used in tires, inner tubes, tire lining, retreading, belting, adhesives, mastics, footwear, sheeting, matting, belting, and others.

“Ken Research shares 3 key insights on this high-opportunity market from its latest research study.”

1. Growing Adoption of Recyclable Tires, and the Shifting Trend Towards Sustainable Manufacturing acts as a Driver for the Market.

According to Ken Research Analysis, the Global Reclaimed Rubber Market was valued at US$ 1 Billion in 2017, it is estimated to be US$ 2 billion in 2022 and is forecasted to reach a market size of ~US$ 4 billion opportunities by 2028, owing to the rising environmental concern and stringent government policies on manufacturing facilities to reduce the emission of harmful gases. Furthermore, the easy availability of scrap tires, and increasing consumer preference toward environment apt material products with lower cost and efficient quality, have further aided the reclaimed rubber market to expand. As a result, various types of reclaimed rubber material such as whole tire, butyl, EPDM, and drab & colored reclaimed rubber are being used in tires, footwear, and other molded rubber products.

2. Advancements in Automotive Industry in Asia Pacific Region, Is Likely to Propel the Growth of the Reclaimed Rubber Market.

The Reclaimed Rubber Market is expected to witness significant growth during the forecast period, due to the surging automotive industry. According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce, stated that the automobile industry in India attracted foreign direct investment (FDI) worth US$ 32.84 billion between April 2000 to March 2022. IBEF also mentioned that the Indian passenger car market was valued at US$ 32.70 billion in 2021 and is expected to reach a value of US$ 54.84 billion by 2027. The increasing automobile industry is likely to drive the demand for tires, which certainly acts as a booster for the reclaimed rubber market.

3. Degrading Physical Properties of Reclaimed Rubber and Fluctuating Crude Oil Prices Restrain the Market Growth.

Devocalization or depolymerization of waste rubber will likely result in the degradation of the physical properties of rubber. Devocalization is a process through which vulcanized waste rubber is transformed into the state in which it can be vulcanized, after mixing and processing. Degradation of rubber can range up to 30 to 70% from the virgin state. A higher level of application such as tires from waste rubber is limited to use after the degradation of a material.

Furthermore, fluctuating raw material cost is also hampering the growth of the global reclaimed rubber market. Enerdata, an energy intelligence company, stated in a report that global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020. International oil prices rose by almost 70% in 2021. Highly fluctuating prices and lower production of crude oil is a restraining factor for the reclaimed rubber market.

For More Information, refer to below link:-

Reclaimed Rubber Market Industry Outlook

Related Report

Global Reclaimed Rubber Market Status (2016-2020) and Forecast (2021E-2026F) by Region, Product Type & End-Use

Global Biodegradable Plastics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Sunday, October 16, 2022

3 Key Insights on Competitive Landscape in Global Reclaimed Rubber Market: Ken Research

Country-Niche Players Dominate the Reclaimed Rubber Market, Despite the Presence of ~200 Competitors Comprising a Significant Number of Global and Regional Players, finds a recent market study on the Global Reclaimed Rubber Market by Ken Research

Reclaimed rubber is a material manufactured from scrap or waste rubber, through the softening and plasticizing process. Reclaiming is a process in which scrap rubber waste is converted, using mechanical and chemical processes into a state in which it can be mixed, processed, and vulcanized again. Reclaimed rubber is used in tires, inner tubes, tire lining, retreading, belting, adhesives, mastics, footwear, sheeting, matting, belting, and others.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Country-Niche Players Held the Largest Market Share, Comprising 60%  in terms of the Total Number of Competitors

Competitive Analysis by the research study found that the global reclaimed rubber market is moderately competitive with ~200 players which include country-niche players, regional players as well as a significant number of globally diversified players, deals in manufacturing and selling specific applications of reclaimed rubbers. The large global players even though comprise about 10% in terms of the number of companies, hold a significant portion of the market revenue share followed by country-niche players which account for a substantial chunk of the market revenue. Most of the players are having their headquarters in the Asia Pacific region.

Major Number of Players Deals in Specialist Business in Global Reclaimed Rubber Market. The Players Offer Product Such as Natural, EPDM, and Whole Tire Reclaimed Rubber.

Detailed comparative analysis of key competitors available within the research study reveals that players have a variety of reclaimed rubber products catering to various applications under the tire and non-tire application such as inner liners, inner tubes, adhesives, roofing, moulded goods, tire piles, conveyor belts, footwear, matting, and others. All leading competitors have a strong presence in the global reclaimed rubber market. Furthermore, several companies and organizations are aggressively investing in R&D to cater to the demand of end-users.

Increased Adoption Of Reclaimed Rubber Globally Leading To Major Industry-Wide Developments, Acquisitions, Collaborations

  • As per India’s Extended Producer Responsibility (EPR), after 2024-25, the EPR obligation will be 100% of the quantity of new tires manufactured/imported in the year.
  • BlackCycle project funded by Horizon 2020, officially launched in May 2020. The project aims to enable a massive circular economy of tires. The project will design world-first processes to make new tires from end-of-life tires.

For More Information, refer to below link:-

Reclaimed Rubber Material Supplier Companies

Related Report

Global Reclaimed Rubber Market Status (2016-2020) and Forecast (2021E-2026F) by Region, Product Type & End-Use

Global Biodegradable Plastics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249