The global Butyl Reclaimed Rubber market is projected to witness significant growth during the review period, exhibiting a CAGR of 12.10%. The market is expected to reach a value of USD 1,457.9 million by the end of the forecast period. In terms of value, the market size was USD 529.0 Million in 2021.
Butyl reclaimed rubber has good air tightness, heat resistance, chemical resistance, aging resistance, shock absorption, and insulation. It can replace butyl rubber to produce high-quality rubber products, and effectively reduce the cost of raw materials on the premise of ensuring product quality. In actual production, butyl reclaimed rubber can not only be used as the main rubber material, but also can be filled in the form of filler; different varieties and different use occasions have different physical properties of rubber, and the application method and addition ratio of butyl reclaimed rubber are different.
COVID-19 Impact on the Butyl Reclaimed Rubber Market:
Geographically, the global Butyl Reclaimed Rubber market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Companies such as Milin Environmental has been actively engaged with companies in the rubber industry in North America, providing them with high quality reclaim materials. It also specializes in engineered fibers & NBR/SBR powders for use in both the automotive and industrial gasket markets. Thus, Butyl Reclaimed rubber is gaining popularity in automotive to produce automobile tires due to its eco-friendly properties in North America region.
In Europe, The rapid growth in the automotive industry and the increasing product demand for the manufacturing of tires, belts, and hoses will fuel the Butyl Reclaimed Rubber market growth in this region.
In Asia pacific region, , India is the second-largest producer of reclaimed rubber after China. India is a big user, producer and expanding Automotive growth in India is robust which drives the Butyl reclaim rubber market. Companies in this market are focused on strategic acquisitions to stay competitive in this market. Moreover, expanding presence in China and India for increased market share is also the focus of large companies in this market. Some other important consumers of butyl reclaim rubber in the region include Malaysia, Vietnam, Hong Kong, Macau, Indonesia, Australia, and Republic of Korea.
The expansion of the automotive industry and the demand for tires are projected to bolster the market's growth in Latin America. Some of the important consumers of butyl reclaim rubber in the region include Brazil, Argentina, Mexico, Ecuador and Chile.
In Middle East And Africa, cities expand beyond their boundaries, unwanted tires accumulate in precious lands that could have otherwise been used to cultivate crops or construct buildings. Asian Rubber Industry FZ LLC is manufacturers, suppliers and exporters of different types of Reclaim Rubber Products in UAE. These are used in the automobile tubes, tire inner liners, hoses, sound dampers, adhesives, and a wide range of rubber-moulded goods. Some of the important consumers of butyl reclaim rubber in the region include UAE, Turkey, Saudi Arabia, and South Africa.
The global Butyl Reclaimed Rubber market is profitable, both for existing players as well as new entrants. The market is highly competitive with all the players competing to gain a higher market share. Intense competition, rapid advances in butyl reclaimed rubber technology, and regulations are key factors that confront the market growth. A substantial level of rivalry is observed among the existing manufacturers in the market. Our analysis revealed that market players had adopted different strategies and innovative research and development techniques to expand their business and secure their position in the global butyl reclaimed rubber market. In recent years, strategic movements by major players included approvals, which have been used as market penetration strategies and a means to reduce competition. The key players profiled in the global butyl reclaimed rubber analysis are GRP, High Tech Reclaim Pvt. Ltd Inc., Fishfa Rubbers Ltd Corporation, SNR Reclamations Pvt. Ltd., Rubber Resources B.V Inc., Wuxi Wanfeng Rubber Factory, Rolex Reclaim Pvt. The industry is characterized by the presence of several small-scale industrial producers with obsolete production technologies and limited capacity, especially in developing nations such as India, which has lent a significant advantage to new industry participants with better processing technologies.
The Butyl Reclaimed Rubber market is segmented by application and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Butyl Reclaimed Rubber emerging and fast-growing segments, regions, and countries.
Objectives of the Study
|Market Size||2030: USD 1,457.9 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Geographies Covered||North America ,Europe, Asia-Pacific,South America, Middle East & Africa|
|Key Vendors||GRP, High Tech Reclaim Pvt. Ltd Inc., Fishfa Rubbers Ltd Corporation, SNR Reclamations Pvt. Ltd., Rubber Resources B.V Inc., Wuxi Wanfeng Rubber Factory, Rolex Reclaim Pvt.|
|Key Market Opportunities||Surging consumer awareness regarding the cost-effective and eco-friendly|
|Key Market Drivers||Increase demand in heavy heavy-duty vehicles|
The global Butyl Reclaimed Rubber market would register a growth of 12.10%.
Adhesives industry, will play a crucial role in taking the Butyl Reclaimed Rubber market ahead
Fluctuating Raw Material Costs