(MENAFN- America News Hour) In a recently published report, Global Recycled Elastomers Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Recycled Elastomers Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Recycled Elastomers Market is valued approximately at USD XX million in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027. Elastomer materials are made of polymer materials which are joined by chemical bonds and have properties of high elongation and flexibility which increases their applicability in various industries. The market growth is primarily driven by rising demand from the end user industries. The increasing investment on research and development of the eco-friendly products in the field is expected to drive the market growth in near future. For instance, in October 2019. HEXPOL TPE has launched thermoplastic elastomers under the name DRYFLEX CIRCULAR. The product launch was targeted to automotive exteriors such as mudflaps, side-steps and wheel-arch liners. The rapidly rising road and infrastructure development activities in both developed and developing nation of the world has boosted the market growth. For instance, India has a requirement of investment worth Rs 50 trillion (US$ 777.73 billion) in infrastructure by 2022 to have sustainable development in the country. The global market for recycled elastomers is experiencing a strong demand due to recent advancements in infrastructural growth around the world. Significant increase in the pace of industrial recycling goods due to strict government rules and legislation to limit carbon emissions has fueled the market for recycled elastomers. Elastomers find their use in different end-use materials beginning with rubber bands and finishing with industrial goods. Various regulatory bodies, aside from government departments, recognize the advantages associated with recycled elastomers, and are encouraging manufacturers to use recycled elastomers to produce different end-use goods. Continuous demographic growth around the world, along with increased government spending, has given a major boost to the infrastructure sector in various developed countries led to the growth of the market. The Government's effort to improve the nation's infrastructural outlook by constructing highways, bridges, schools, and other tourism sites has made the recycled elastomers the preferred materials among manufacturers. The strong growth in the car industry has contributed to high demand for tires due to growing per capita income and changing lifestyle. Considerable increase of tire waste has prompted the use of green and recycled products of tyres by leading tire manufacturers. However, the high processing cost involved in the manufacturing of the product result in high cost of end product which is the major restraint to the market.
The regional analysis of Global Recycled Elastomers Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In many developing nations of the Asia Pacific region, population growth coupled with increased government spending has given the infrastructure sector a thrust, encouraging market growth over the forecast period (2020-2027) for recycled elastomers.
Major market player included in this report 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
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw Materials:
Styrene butadiene rubber (SBR)
Nitrile butadiene rubber (NBR)
Propylene rubber (EPM, EPDM)
Chloroprene rubber
Natural rubber
Polyurethane rubber
Others
By Application:
Medical
Agriculture
Sports product
Playground surfaces
Infrastructure
Home & garden
Others
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Recycled Elastomers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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