A report by ARC estimated that the recycled elastomer market will surpass $6.8 billion by 2026, representing an average annual growth rate of 11.9 percent from 2019 to 2026. Elastomer materials are made of polymer materials that are joined by chemical bonds and have high elongation and flexibility properties that increase its applicability in various industries. Elastomers rubber compounds are made of five to ten ingredients each of them having specific role and they are better alternatives for natural rubber. Elastomers are classified into three groups: diene, non-diene, and thermoplastic elastomers.
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Elastomers are polymers that are very elastic and are classified into three groups such as diene, non-diene, and thermoplastic elastomers. Manufacturing of electromeric parts is carried out in three ways such as injection molding, transfer molding, or compression molding. Thermoplastic elastomers are an important part of the elastomers industry and have two major advantages as compared to old thermoset elastomers, such as ease and speed of processing.
The market in North America is expected to account for significant revenue share. This can be attributed to growing demand from medical, sports, and agriculture sector and presence of major players operating in the countries in this region. In addition, strategic business expansion activities such as merger and acquisition are expected to further support the growth of the target market in this region. In 2019, Genan Holding A/S and Portuguese provider of transport and construction equipment solutions, NORS, S.A. signed an agreement for Genan to acquire NORS subsidiary Biosafe – Indústria de Reciclagens, S.A., an operator of the largest tire recycling plant in Portugal. This agreement will help the company to strengthen its position in the Portugal market.
The market in Asia Pacific is expected to witness faster growth, owing to wide applicability of recycled elastomers in agriculture sector. In addition, increasing number of international and regional sports events conducted in developing countries is expected to increase demand for recycled elastomers further supporting the market growth.
Genan supplied shock-absorbing rubber granulates for some of the pitches, in Peru where Pan-American Games 2019 are expected to be conducted. Increasing application of recycled elastomers in sports sector is expected to further support the market growth in South America.
Wide applicability of recycled electromers in various end use verticals such as agriculture, infrastructure, and sports products is major factor expected to drive the growth of the global recycled elastomers market. In addition, growing infrastructure development activities across the globe, coupled with wide applicability of recycled elastomers in construction and infrastructure sector is another factor expected to support the growth of the target market.
Moreover, increasing government expenditure on development of healthcare sector, wide applicability of eco-friendly products, coupled with increasing use of recycled elastomers for manufacturing of medical devices are some other factors expected to boost the growth of the target market.
However, price volatility in raw materials and availability of other alternate solutions are major factors expected to hamper the growth of the global recycled elastomers market.
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Technological advancements by major players, increasing R&D activities, coupled with introduction of novel products are factors expected to create new opportunities in terms of revenue for players operating in the global recycled elastomers market over the forecast period. In addition, increasing business expansion activities through strategic agreements and partnerships are among other factors expected to revenue support the market growth. In 2018, Genan GmbH signed an exclusive sales agreement with high-quality organic fiber manufacturer J. Rettenmaier & Söhne GmbH + Co KG. This agreement will help the company to strengthen its sale for elastomer modifier ROAD product for road construction.
The global recycled elastomers market is segmented on the basis of raw material and application. On the basis of raw material, the recycled elastomers market is segmented into styrene butadiene rubber, nitrile rubber, propylene rubber, chloroprene rubber, natural rubber, polyurethane rubber, and others. On the basis of application, the recycled elastomers market is segmented into medical, agriculture, sports product, playground surfaces, infrastructure, home & garden, and others.
The profiles of the leading players are done with the analyzing of the Porter’s Five Force model and SWOT analysis to understand the competitive landscape in the recycled elastomer market. The study also encompasses market attractiveness, wherein the services are benchmarked based on market share, market size, and growth rate.
Key Players & Strategies
Some of the major players operating in the target market are GRP Ltd., Liberty Tire Recycling, American Tire Recycling, West Coast Rubber Recycling, Monmouth Rubber & Plastics Corp., J. Allcock & Sons Limited, RubberForm Recycled Products LLC, American Recycling Center, Green Rubber One Sdn. Bsd., Austin Rubber Company LLC, Klean Industries, Genan Holding, Rubbergreen, Entech Inc., Emanuel Tire Co, Tire Disposal & Recycling Inc., Global Tire Recycling Inc. The recycled elastomers have high degree of competition as there is large number of players operating. Major players are adoption new strategies in order to stay ahead in the competition inclination towards manufacturing eco-friendly products and introducing new innovative products is expected to increase the competition.
Market Segment Analysis:
Acumen Research report focuses on market attractiveness by assessing the key market segments. The report also combines region-wise segments for a better understanding of the supply and demand ratio of the global recycled elastomer market. This exclusive study of the report analyzes the present and future market scenario and the industry trends that are influencing the growth of the segments. Besides, the report also covers the value chain analysis, supply chain analysis, and year-on-year basis analysis of the global recycled elastomer market.
By Raw Material
- Styrene butadiene rubber
- Nitrile butadiene rubber
- Propylene rubber
- Chloroprene rubber
- Natural rubber
- Polyurethane rubber
- Sports product
- Playground surfaces
- Home & garden
Market Regional Analysis:
Based on the regions, the global recycled elastomer market is segmented into -North America (US and Canada), Europe (UK, Germany, France, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), Latin America (Mexico, Brazil and Rest of Latin America), Middle East & Africa (GCC, South Africa and Rest of MEA)
Key Questions Answered in the Report
The report addresses key questions concerning the market evolution and overarching trends shaping global market growth. Some of the key questions answered in the report include-
– What is the overall structure of the market?
– What was the historical value and what is the forecasted value of the market?
– What are the key product level trends in the market?
– What are the market level trends in the market?
– Which of the market players are leading and what are their key differential strategies to retain their stronghold?
– Which are the most lucrative regions in the market space?
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