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Around 75% of the recycled rubber is generated from the scrap tires and currently these tires are widely used as a source of energy in various industries include cement, steel, etc. rather than recycling. This will be act as a key hindering factor for the overall recycled elastomer market growth by 2024 due to competition in raw material availability.
Browse key industry insights from the report, “Recycled Elastomers Market” in detail along with the table of contents:
Recycled elastomer market is segmented on the basis of raw material, application and region. The raw material segment is bifurcated into SBR, NBR, propylene rubber, chloroprene rubber, natural rubber, polyurethane rubber and others. In terms of revenue, propylene rubber will capture more than a fifth of the entire segment by 2024 due to its excellent chemical resistance features.
The application segment in recycled elastomer market is segregated into medical, agriculture, sports product, playground surfaces, infrastructure, home & garden and others. Among these, playground surfaces will show the significant growth across the entire segment with a CAGR projection of around 10% in coming years. Extensive usage of the product for flooring purpose in playgrounds and parks due to superior abrasion and heat and water-resistant characteristics.
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Based on region, North America and Europe will collectively hold more than 30% of the entire industry. Significant rise in personal income along with changes in living standards will supplement the sports products and infrastructure sectors. This will further augment the recycled rubber demand in these regions.
Recycled elastomer market is fragmented in nature as many medium and small-scale manufacturers are present across the globe. The key players in the industry are West Coast Rubber Recycling, American Recycling Center, GRP, American Tire Recycling, Emanuel Tire, Klean, Entech, OSHO SA RECYCLING, Green Environment Tires Recycle, Rolex Reclaim, etc.
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