[FURL=https://www.industryarc.com/Research/Reclaimed-Rubber-Market-Research-503426?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Reclaimed Rubber Market[/FURL] Reclaimed Rubber Market size is forecast to reach US$6.6 billion by 2026, after growing at a CAGR of 10.6% during the forecast period (2021-2026). Reclaimed rubber is reliable rubber that is obtained through various thermo-synthetic cycles. By shortening the polymer chain, reclaimed rubber is relaxed. The types of reclaimed rubber widely used include ethylene propylene diene monomer, butyl reclaim, and the whole Tire Reclaim. The growing automobile industry is fueling the interest in reclaimed rubber due to its ability to protect against heat and bright light. It is used in assembling wheels, belts, tires, and hoses in automobiles.Key Takeaways
Asia Pacific dominates the reclaimed rubber market, owing to the increasing production of vehicles. According to OICA, the production of passenger cars has increased by 2.6 % in Malaysia in 2019.
Because of manageability, lower energy consumption, and cost-effectiveness, reclaimed rubber is widely used in modern applications instead of engineered elastic.
As part of their corporate social responsibility, industry players are attempting to discover better ways to reduce/alleviate the environmental harm caused by butyl rubber production. This is expected to support market development plans sooner.
In compared to its synthetic alternative, this low-cost raw material is widely favored by manufacturers due to its lower power consumption rate and lower thermal plasticity levels, which make it easier to break down during processing.
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Reclaimed Rubber Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the reclaimed rubbers market in 2020 up to 30%. The rapidly developing automotive and aerospace industries, particularly in China, Malaysia, and India, have fueled spectacular growth in the Asia Pacific market and will continue to do so in the future. China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects automobile production to reach 35 million by 2025. In 2019, according to OICA, the automotive production in Malaysia and Vietnam has increased up to 571632, and 250000, i.e., 1.2%, and 5.5%, higher than the previous year. In June 2017, the Clean Energy Ministerial launched the EV30@30 campaign to accelerate the worldwide use of electric vehicles.
Reclaimed Rubber Market Drivers
Increasing adoption in the automotive industry
Reclaimed Rubber Market Landscape
Reclaimed Rubbers Market top companies are SABIC, BASF SE, 3M, Sumitomo Chemicals, Covestro AG, Mitsubishi Chemical Holdings Corp, LyndollBasell Industries N.V., Evonik Industries AG, Mapei SpA, Ashland, Inc
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