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Recycled Elastomers Market - By Raw Material, By Application & Forecast, 2024 - 2032
Report ID: GMI2791
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Published Date: July 2018
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 12
Tables & Figures: 172
Countries covered: 19
Pages: 200
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Recycled Elastomers Market Size
The global recycled elastomers market was valued at USD 5.1 billion in 2023 and is estimated to grow at a CAGR of over 12.5% from 2024 to 2032. The global market is witnessing significant growth driven by rising environmental awareness and regulatory support for sustainable materials.
Key trends include increasing demand from industries such as automotive, construction, and footwear, where recycled elastomers offer a cost-effective and eco-friendly alternative to virgin materials. Technological advancements in recycling processes are enhancing the quality and performance of recycled elastomers, further boosting their adoption.
Additionally, the circular economy movement is encouraging manufacturers to integrate recycled materials into their production lines, reducing waste and promoting resource efficiency. Regions such as North America and Europe are leading the market, supported by stringent regulations and robust recycling infrastructures. In contrast, Asia-Pacific is emerging rapidly due to rising industrialization and growing environmental concerns. Overall, the market is poised for continued expansion, with innovation and sustainability at the forefront of development strategies.
Increasing environmental awareness and sustainability initiatives are significantly influencing the global recycled elastomers market. As consumers and businesses prioritize eco-friendly practices, the demand for sustainable materials, including recycled elastomers, is on the rise. This shift encourages manufacturers to adopt greener alternatives, thus expanding market opportunities.
Regulatory support and policies promoting recycling, and the circular economy further drive growth. Governments worldwide are implementing stricter regulations on waste management and promoting the use of recycled materials, which incentivizes companies to invest in recycling technologies and processes.
Additionally, the growing demand from key industries such as automotive and construction is a crucial factor. These sectors are increasingly integrating recycled elastomers into their products to enhance sustainability and meet consumer expectations. The combination of these drivers creates a robust market landscape, positioning recycled elastomers as a viable alternative to traditional materials.
Recycled Elastomers Market Trends
Manufacturing efficiency in the recycled elastomers industry is improving due to advancements in recycling technologies and processes. Enhanced methods are enabling higher quality material recovery, reducing waste, and lowering energy consumption. Automation and digitalization in manufacturing lines streamline production, increasing throughput and reducing costs. Additionally, collaborative efforts among manufacturers and suppliers are fostering innovation in material formulations, which enhances the performance of recycled elastomers. These trends not only improve operational efficiency but also align with sustainability goals, making recycled elastomers a more attractive option for manufacturers aiming to optimize resource use while minimizing their environmental impact.
Recycled Elastomers Market Analysis
The styrene butadiene rubber segment will capture USD 3.3 billion and demonstrate a 13.6% CAGR till 2032. The market is increasingly segmented by raw materials, reflecting diverse applications and performance requirements. Styrene Butadiene Rubber (SBR) remains a leading material due to its widespread use in tires and automotive components, driven by high demand for sustainable alternatives. Nitrile Butadiene Rubber (NBR) is also gaining traction, particularly in automotive and industrial applications, due to its oil resistance and durability.
Propylene rubber and Chloroprene rubber are emerging as key players, with their unique properties catering to specialized sectors like adhesives and sealants. Natural rubber is witnessing a resurgence as sustainability concerns drive demand for biodegradable options. Polyurethane rubber is favored for its versatility and performance in various applications, including footwear and industrial products.
Additionally, the "Others" category encompasses emerging materials and blends that cater to niche markets. Overall, the focus on recycling and sustainable sourcing is shaping the trends within these raw material segments, enhancing market growth.
The infrastructure segment held a 24.4% market share in 2023, amounting to USD 1.2 billion, and is projected to grow at a 10.6% CAGR from 2024 to 2032. The recycled elastomers market is expanding across various applications, driven by a growing focus on sustainability. In the medical sector, recycled elastomers are increasingly used for medical devices and equipment, offering cost-effective solutions without compromising safety. Agriculture is leveraging these materials for durable and weather-resistant products like hoses and tarps, supporting eco-friendly farming practices.
In sports, recycled elastomers are being utilized in the manufacturing of athletic footwear and equipment, enhancing performance while reducing environmental impact. Playground surfaces made from recycled materials provide safe, resilient options for children, promoting both safety and sustainability.
The infrastructure sector benefits from recycled elastomers in road construction and maintenance, where durability is critical. Additionally, the home and garden segment is incorporating these materials into landscaping and DIY projects, appealing to environmentally conscious consumers. The "others" category includes innovative applications in various industries, further propelling market growth and promoting a circular economy.
U.S. recycled elastomers industry is projected to achieve USD 6 billion, with a CAGR of 13% from 2024 to 2032. The recycled elastomers market is experiencing varied growth across regions, influenced by economic, regulatory, and environmental factors. In North America, stringent environmental regulations and a strong focus on sustainability are driving demand, particularly in automotive and construction sectors. Europe follows closely, with robust recycling infrastructures and a strong commitment to the circular economy, leading to increased adoption of recycled materials across multiple industries.
Asia Pacific is emerging as a significant player, fuelled by rapid industrialization and growing environmental awareness. Countries like China and India are investing in recycling technologies to meet both domestic and global demand. Latin America is gradually recognizing the potential of recycled elastomers, with increasing initiatives aimed at sustainability and waste management.
In the Middle East and Africa, market growth is hindered by limited recycling capabilities, but rising awareness and government initiatives are beginning to foster demand for recycled materials. Overall, the global market is poised for continued expansion, driven by regional dynamics and sustainability goals.
Recycled Elastomers Market Share
Companies include, GRP Ltd. has established itself as a leader in recycling technologies, focusing on innovative processes that enhance the quality of recycled elastomers for various applications. Liberty Tire Recycling is a prominent player in the tire recycling sector, significantly contributing to sustainability by processing millions of tires annually into valuable rubber products, which helps reduce landfill waste.
American Tire Recycling specializes in converting scrap tires into high-performance recycled materials, catering to diverse industries while promoting circular economy principles. West Coast Rubber Recycling is known for its commitment to eco-friendly practices, providing high-quality recycled rubber products that meet stringent industry standards, thereby supporting sustainable construction and landscaping.
Monmouth Rubber & Plastics Corp. has made notable strides by integrating recycled elastomers into its product lines, offering cost-effective and environmentally responsible solutions.
Recycled Elastomers Market Companies
Major players operating in the recycled elastomers industry are:
Recycled Elastomers Industry News
April 2023: KRAIBURG TPE launched its environmentally friendly THERMOLAST R TPE series in the Asia Pacific region. This TPE series contains up to 35% post-consumer recycled (PCR) material, with the proportion varying based on hardness. These latest eco-friendly thermoplastic elastomers (TPEs) have been introduced to the consumer market and have been adopted by The First Thai Brush Co. Ltd., a leading toothbrush manufacturer in Thailand, for their innovative Victory toothbrush.
July 2023: Avient Corporation has launched two new reSound REC recycled content thermoplastic elastomers (TPEs). These latest grades, designed for car interior applications, incorporate post-consumer recycled (PCR) materials, providing a more sustainable alternative to conventional TPEs while maintaining similar performance characteristics.
The recycled elastomers market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue (USD Billion) and volume (Kilo Tons) from 2024 to 2032, for the following segments:
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Market, By Raw Material
Market, By Application
The above information is provided for the following regions and countries: