Reclaimed rubber market to grow at 12 percent

According to a study published by Polaris Market Research, the global reclaimed rubber market is estimated to reach USD 6.53 billion by 2026, growing at a CAGR of 12.03% during the forecast period. The overall tire recycling (WTR) segment dominated the market in terms of revenue in 2018. North America held the majority share of the global market in 2018.

The automotive and aerospace industries are the main drivers of the global recycled rubber market, according to the report.

Rising natural rubber prices are also forcing automakers to shift to lower processing costs and recycled products or rubber compounds.

The demand for recycled rubber in the tire industry is largely driving the industry's growth.

Flat roof coverings in the construction sector have also led to a significant increase in the consumption of recycled rubber due to its weather and heat resistance.

The demand for flooring mats is expected to grow in residential applications and various industries, increasing the demand for reclaimed rubber.

Studies have shown that increased utilization of recycled rubber for electronics, packaging and other industrial applications is positively impacting the demand for recycled rubber due to its good aging properties and fast processing performance.

In addition, favourable regulations regarding recycling, sustainability, and substitution of synthetic and natural rubber have led to increased demand. Rising consumer preference for materials with lesser environmental impact and lower processing costs is likely to further enhance the growth of the reclaimed rubber market. Soccer Manufacturers of automotive and aviation tires and other moulded rubber products are already using recycled rubber compounds on a larger scale.

The whole tire reclaim is expected to be the fastest-growing type of reclaimed rubber due to lower processing costs and reduced environmental impact along with properties such as high durability and versatility.

However; the emergence of new elastomer-based products will also limit growth. Reclaimed rubbers such as EPDM are gradually replacing traditional natural rubber in consumer moulded products and automotive tires. Reclaimed rubber such as EPDM is gradually replacing traditional natural rubber in consumer mouldings and automotive tires.

The Asia Pacific is the largest regional market for the reclaimed rubber industry. Moreover, the growth rate in developed countries is likely to be lower than average compared to other regions of the world. Europe and North America are also expected to witness considerable growth during the forecast period.