Recycled Elastomers Market Top Companies Study - Genan Holding Ltd., GRP LTD, Kraton Corporation, Eastman Chemical Company.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Recycled Elastomers Market - (By Material Type (Synthetic and Natural), Synthetic Type (Thermoset and Thermoplastic), Thermoset (Recycled Rubber, Recycled Polyurethane, and Other Thermosets), Thermoplastic (Styrenic Block Copolymers (SBC), Thermoplastic Polyurethane (TPU), Thermoplastic Vulcanizate (TPV), and Other Thermoplastics), Application (Automotive, Industrial Facilities, Healthcare, Packaging, Construction, Consumer Goods, and Other Application)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Recycled Elastomers Market is valued at US$ 9.5 Bn in 2023, and it is expected to reach US$ 20.2 Bn by 2031, with a CAGR of 10.1% during the forecast period of 2024-2031.

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Recycling elastomers serves the critical purpose of minimizing landfill waste and mitigating its associated environmental impacts. Elastomers, a class of elastic polymers, are increasingly being reclaimed from post-consumer materials for reuse across multiple industries. Notably, recycled elastomers are being utilized in the production of tires, insulation materials, flooring, and sports surfaces, particularly within the automotive, construction, and athletic sectors-industries experiencing significant growth and, in turn, driving increased demand for these sustainable materials.

Furthermore, the rising emphasis on environmentally responsible manufacturing practices is fostering heightened demand for eco-friendly elastomers across various industrial applications. Organizations are increasingly investing in recycling initiatives, recognizing the cost-effectiveness, efficiency, and sustainability of reusing elastomeric materials. Common sources of recycled elastomers include discarded gaskets and tires, which are processed into high-performance products. Recycling not only conserves raw material resources but also reduces the volume of waste sent to landfills. Advances in recycling technologies have enhanced the quality and performance of recycled elastomers, making them a viable alternative in applications across construction, automotive, and sports industries-further accelerating market expansion.

List of Prominent Players in the Recycled Elastomers Market:
• Genan Holding Ltd.
• GRP LTD
• Kraton Corporation
• Eastman Chemical Company
• BASF SE
• Liberty Tier Recycling, LLC
• J. Allcock & Sons Ltd
• Austin Rubber Company, LLC
• Tire Disposal & Recycling
• Monmouth Rubber & Plastics
• Audia Elastomers
• Rubberfrom Recycled Products, LLC
• Rubber Green
• Emanual Tier, LLC
• ExxonMobil
• Zeon Corporation
• Versalis S.p.A.
• Dow, Inc.,
• PolyOne Corporation
• Kuraray Co., Ltd
• Texnor Apex Company
• Mitsubishi Chemical Advanced Materials
• Kraiburg TPE
• RTP Company
• Hexpol TPE
• Avient
• Other Market Players

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Market Dynamics
Drivers:
The increasing adoption of recycled elastomers is largely driven by the global shift toward sustainable materials, as industries respond to growing environmental concerns such as pollution and landfill accumulation. Governments worldwide are implementing more stringent waste management and recycling regulations, which are encouraging the use of recycled elastomers as an environmentally responsible alternative to virgin rubber. These regulatory pressures, combined with rising corporate and municipal sustainability initiatives, are fostering market expansion. Furthermore, advancements in recycling technologies have significantly improved the efficiency and quality of recycled elastomer production, enhancing their appeal across various industrial sectors and contributing to market growth.

Challenges:
Despite these positive trends, the recycled elastomers market faces several challenges. Current recycling technologies often fall short of meeting the rigorous quality standards required for high-performance applications, resulting in limitations in product purity and mechanical properties. This technical constraint reduces the suitability of recycled elastomers in premium or sensitive use cases. Additionally, the lack of standardized guidelines governing the quality and use of recycled elastomers creates uncertainty for manufacturers and end-users alike. Installation and maintenance complexities associated with recycled elastomer systems, compared to conventional alternatives, further limit their broader adoption in some sectors.

Regional Trends:
The Asia Pacific region is expected to command a significant share of the recycled elastomers market and is projected to register a strong compound annual growth rate (CAGR) in the coming years. This growth is fueled by increasing sustainability efforts, strict environmental regulations, and regional technological advancements that have enhanced the feasibility and efficiency of elastomer recycling. North America also holds a notable market share, underpinned by the widespread use of recycled elastomers in the construction industry, the adoption of sustainable business practices, and a well-established infrastructure for recycling and material recovery. Ongoing technological innovation in the region continues to support the development and expansion of the global recycled elastomers market.

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Recent Developments:
• In April 2023, KRAIBURG TPE introduced its environmentally friendly THERMOLAST® R TPE for the Asia Pacific region. The TPE series incorporated a maximum of 35% post-consumer recycled (PCR) material, with the amount varying depending on the hardness. The latest environmentally-friendly thermoplastic elastomers (TPEs) have been introduced to the consumer market and adopted by The First Thai Brush Co. Ltd, Thailand's prominent toothbrush producer, for their innovative Victory toothbrush.
• In July 2023, Avient Corporation introduced two new reSoundTM REC Recycled Content Thermoplastic Elastomers (TPEs). The latest grades for car interior applications were developed using post-consumer recycled (PCR) content, offering a more environmentally friendly thermoplastic elastomer (TPE) alternative that performs similarly to conventional TPEs.

Segmentation of Recycled Elastomers Market-
By Material Type-
• Synthetic
• Natural
By Synthetic Type-
• Thermoset
• Thermoplastic
By Thermoset-
• Recycled Rubber
• Recycled Polyurethane
• Others
By Thermoplastic-
• Styrenic Block Copolymers (SBC)
• Thermoplastic Polyurethane (TPU)
• Thermoplastic Vulcanizate (TPV)
• Others
By Application-
• Automotive
• Industrial Facilities
• Healthcare
• Packaging
• Construction
• Consumer Goods
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.