Recycled Elastomers Market Key Players Analysis - 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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The recycling of elastomers plays a vital role in reducing landfill waste and mitigating its environmental consequences. Elastomers, a category of elastic polymers, are increasingly recovered from post-consumer sources for reintegration into various industrial applications. Recycled elastomers are prominently utilized in the manufacturing of tires, insulation materials, flooring, and sports surfaces, particularly within the automotive, construction, and athletic sectors-industries that are experiencing substantial growth and, consequently, driving higher demand for sustainable materials.

Moreover, the growing focus on environmentally sustainable manufacturing practices is amplifying the demand for eco-friendly elastomer products across diverse industrial domains. Companies are progressively investing in recycling initiatives, recognizing the economic, operational, and environmental benefits of reusing elastomeric materials. Key feedstocks for recycled elastomers include used tires and discarded gaskets, which are processed into high-performance materials. Recycling not only conserves natural resources but also significantly reduces landfill volumes. Technological advancements in recycling processes have improved the quality and functionality of recycled elastomers, establishing them as a viable alternative in sectors such as construction, automotive, and sports, thereby further propelling market growth.

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 growing adoption of recycled elastomers is primarily propelled by the global transition toward sustainable materials, driven by increasing environmental concerns such as pollution and the accumulation of landfill waste. Governments across the world are enacting stricter waste management and recycling regulations, which incentivize the use of recycled elastomers as environmentally responsible alternatives to virgin rubber. These regulatory mandates, alongside rising corporate and municipal sustainability commitments, are fostering significant market growth. Additionally, advancements in recycling technologies have enhanced the efficiency and quality of recycled elastomer production, thereby increasing their attractiveness across diverse industrial sectors and contributing to market expansion.

Challenges:
Despite favorable market conditions, the recycled elastomers sector faces several obstacles. Existing recycling technologies often struggle to achieve the stringent quality standards demanded for high-performance applications, leading to constraints related to product purity and mechanical performance. This technical limitation restricts the application of recycled elastomers in premium or highly specialized uses. Furthermore, the absence of standardized regulations governing the quality and utilization of recycled elastomers creates uncertainty for manufacturers and end-users. Installation and maintenance complexities associated with recycled elastomer products, when compared to conventional materials, further impede their widespread adoption in certain industries.

Regional Trends:
The Asia-Pacific region is anticipated to capture a substantial share of the recycled elastomers market and is expected to experience robust compound annual growth rates (CAGR) over the forecast period. This growth is driven by intensifying sustainability initiatives, stringent environmental regulations, and regional technological advancements that have improved the efficiency and feasibility of elastomer recycling. North America also maintains a significant market presence, supported by extensive use of recycled elastomers in the construction sector, widespread implementation of sustainable business practices, and a mature infrastructure for recycling and material recovery. Continuous technological innovation within the region further underpins 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.