Market Scope
The butyl reclaimed rubber market will expand at a rate of 12.10% between 2019 and 2030. By 2030, the market could touch USD 1,457.9 million, after reaching USD 529.0 Million in 2021.
Market Segmentation
The application-based segments covered in the report for the Butyl Reclaimed Rubber Market include Tires and Adhesives, Tube Industry, Waterproofing Sheets, and more.
Over the course of the review period, the tires segment is certain to have a strong performance in the global market. The demand for aircraft tires is bolstered by the expanding worldwide logistics industry as well as passenger travel following the easing of the shutdown and travel restrictions. In the years to come, this will undoubtedly raise the need for butyl reclaimed rubber in the tyre business.
Market Competitive Landscape:
The affluent players in the butyl reclaimed rubber industry include 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. and more.
Particularly in emerging nations, the global market is characterised by a large number of small-scale developers with outdated manufacturing technologies and constrained capacity. However, this allows new competitors who have cutting-edge processing technology a significant advantage.
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Market Drivers:
Desulfurization is used to create butyl reclaimed rubber from butyl tubes that have already been utilized. This artificial rubber, which is impermeable to air, is a copolymer of isobutylene and isoprene. This enhances its applicability in situations when airtight rubber is required. Compared to virgin butyl rubber, it has a higher polarity and a faster rate of vulcanization. This improves its ageing resistance and compatibility with various rubber types.
Governments all over the world have launched supportive policies to promote the use of sustainable resources as alternatives to conventional virgin rubber, which has increased the demand for butyl reclaimed rubber globally. The global industry will benefit from the growing usage of butyl recycled rubber in a variety of end-use industries, including footwear, automotive and aircraft tires, retreading, molded rubber goods manufacture, and belts and hoses.
The United States is the world's top producer and consumer of commercial vehicles, according to the International Organization of Motor Vehicle Manufacturers (OICA). Despite the COVID-19 outbreak, pickup truck sales have been increasing across the nation. Heavy-duty commercial vehicles frequently have their tyres resurfaced since new tyres are expensive. For the vast majority of owners of commercial vehicles, tyre retreading is an affordable and practical choice. The scale of the butyl recycled rubber industry will increase over the coming years as a result of the flourishing automobile industries in the United States and other countries.
Market Restraints:
The global market could suffer in the years to come since modern industrial technologies are sometimes used less frequently. Low investments may also be the cause of market growth slowdown.
Regional Insights
High-quality butyl recycled rubber products are being actively sold by businesses like Milin Environmental to suppliers in the North American rubber sector. The automotive and industrial gasket industries are in great need of the same. In this region, butyl recycled rubber is widely used in the production of auto tires and other products by the automobile sector.
Because of the automotive industry's quick growth as well as increased product usage in the manufacture of tires, belts, and hoses, the Butyl Reclaimed Rubber Market Share Insights in Europe will experience rapid growth over the coming years.
China leads the world in the development of butyl reclaimed rubber, with the Asia Pacific coming in second in the worldwide market. Because India is one of the biggest consumers and manufacturers of automobiles, the butyl reclaimed rubber market has a lot of room to grow. In order to maintain their competitiveness over the coming years, businesses in the area are concentrating on strategic contracts and acquisitions. Vietnam, Malaysia, Macau, Hong Kong, Australia, the Republic of Korea, and Indonesia are a few additional significant markets in the area.
The automobile industry's excellent expansion and the ensuing spike in tire demand have contributed to the Latin American market's rapid expansion. Argentina, Brazil, Ecuador, Chile, and Mexico are a few countries in Latin America that are significant consumers of butyl recycled rubber
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