Recycled Elastomers Market By Raw Material: (Styrene butadiene rubber, Nitrile butadiene rubber, Propylene rubber, Chloroprene rubber, Natural rubber, Polyurethane rubber, Others) By Application: (Medical, Agriculture, Sports product, Playground surfaces, Infrastructure, Home & garden) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global recycled elastomers market size is expected to reach around US$ 6.8 billion by 2026 and growing at a CAGR of above 11.9% over forecast period 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.
Market Dynamics
Major factors expected to drive the growth of the global recycled elastomers are increasing R&D activities for development of eco-friendly polymer products, along with wide applicability of recycled elastomers in various end use industry. In addition, sustainable development activities in road construction, coupled with wide applicability of recycled elastomers as a binder in construction of road is another factor expected to support the growth of the global market.
However, high cost involved in processing of material is resulting in high cost of end product which is a major factor expected to hamper the growth of the global recycled elastomers market. In addition, fluctuating raw material prices is another factor expected to challenge the growth of the target market.
Increasing investment for technological advancements and R&D activities and development of cost-effective product are factors expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, increasing business expansion activities by major players through strategic merger and acquisitions in order to increase their global presence is expected to further support the growth of the market.
Segment Analysis, By Raw Material
The raw material segment of the global recycled elastomers market in segmented into styrene butadiene rubber, nitrile butadiene rubber, propylene rubber, chloroprene rubber, natural rubber, polyurethane rubber, and others. The chloroprene rubber segment is expected to contribute significant revenue share in the global market, due to its properties such as high resistance to sunlight and harmful gases. In addition, high resistance properties of chloroprene rubber is resulting in increasing demand from infrastructure industry for various application such as flooring mats and bathroom accessories.
Segment Analysis, By Application
The application segment of the target market is segmented in to medical, agriculture, sports product, playground surfaces, infrastructure, home & garden, and others. The agriculture segment is expected to contribute significant revenue share in the global market, owing to its properties such as high resistant to heat, UV resistance, and high durability. In addition, growing demand for cost-effective packaging solution for vegetables, livestock mats, and feeders is expected to increase demand for recycled elastomers products.
The region segment is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is expected to contribute major revenue share in the global recycled elastomers market. This can be attributed to increasing R&D activities pertaining to development of eco-friendly plastic products. In addition, flourishing sport industry, rising number of global sports events is resulting in demand for recycled elastomers products for athletics surfaces and other arenas is expected to support the growth of the target market in Europe.
Moreover, rapid technological advancements in medical devices, increasing government spending on healthcare sector, coupled with wide applicability of recycled elastomers in medical devices products is expected to support the target market.
The market in Asia Pacific is the largest market and is expected to witness fastest growth, owing to increasing demand from construction sector. Increasing road infrastructure development activities in the developing countries, coupled with adoption of recycled elastomers in road construction due to its binding property is expected to support the target market growth in Asia Pacific market. In addition, increasing use of elastomers in textile and tire manufacturing is expected to further support the growth of the target market.
Competitive Landscape
Recycled elastomers are highly competitive market owing to the presence of huge number of competitors. A huge number of local and international players are operating in the market which has increased the competition. In addition, increasing expansion activities through strategic mergers and acquisitions in order to increase their presence, customer base, and enhance their product portfolio is creating a competitive business scenario.
Report coverage
|
Market |
Global Recycled Elastomers Market |
|
Analysis Period |
2015 – 2026 |
|
Base Year |
2018 |
|
Forecast Data |
2019 – 2026 |
|
Market Stratification |
Raw Material, Application, and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Recycled Elastomers Market (Raw Material: Styrene butadiene rubber, Nitrile butadiene rubber, Propylene rubber, Chloroprene rubber, Natural rubber, Polyurethane rubber, and Others; Application: Medical, Agriculture, Sports product, Playground surfaces, Infrastructure, and Home & garden) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global recycled elastomers market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global recycled elastomers market, itsraw material, applications, and major geographic regions. The report covers basic development policies and layouts of technology development processes. The recycled elastomers market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report include 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, and Klean Industrie.
Market Segmentation
By Raw Material
- Styrene butadiene rubber
- Nitrile butadiene rubber
- Propylene rubber
- Chloroprene rubber
- Natural rubber
- Polyurethane rubber
- Others
By Application
- Medical
- Agriculture
- Sports product
- Playground surfaces
- Infrastructure
- Home & garden
Market By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Frequently Asked Questions
What will be the market value of recycled elastomers?
Report Study by Acumen Research and Consulting, the recycled elastomers market value is anticipated to be worth around US$ 6.8 billion in 2026.
How much is the CAGR of recycled elastomers market?
The recycled elastomers market is anticipated to grow over 11.9% CAGR during the forecast period 2019 to 2026.
Which factor curbs the growth of recycled elastomers market?
Factors such as increasing R&D activities for development of eco-friendly polymer products, along with wide applicability of recycled elastomers in various end use industry restrain the recycled elastomers market growth.
Which region held the maximum share for the recycled elastomers market?
Europe held maximum share in 2018 for recycled elastomers market.
Which region is projected to grow at a fastest rate during the forecast period?
Asia Pacific is projected to grow at a fast pace during forecast period in the recycled elastomers market.
Which segment contribute significant revenue share for recycled elastomers market?
The agriculture segment is expected to contribute significant revenue share in the global recycled elastomers market.
By Raw Material, which segment contribute significant revenue share for recycled elastomers market?
The chloroprene rubber segment is expected to contribute significant revenue share for recycled elastomers market.
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