Recycled Elastomers Market Insights Reveal Expansion Across Automotive, Construction, and Consumer Goods Sectors

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 is increasingly recognized as a critical strategy for minimizing landfill waste and mitigating associated environmental impacts. Elastomers, a class of highly elastic polymers, are recovered from post-consumer sources and reintegrated into a wide range of industrial applications. Recycled elastomers find extensive use in the production of tires, insulation materials, flooring, and sports surfaces, particularly within the automotive, construction, and athletic sectors-industries that are experiencing notable growth and, in turn, driving increased demand for sustainable materials.

Heightened emphasis on environmentally responsible manufacturing practices is further boosting the adoption of recycled elastomer products across diverse industrial domains. Organizations are investing in recycling initiatives, acknowledging the operational, economic, and ecological advantages of reusing elastomeric materials. Common feedstocks, such as end-of-life tires and discarded gaskets, are processed into high-performance materials suitable for multiple applications.

Recycling not only conserves natural resources but also substantially reduces landfill accumulation. Additionally, technological advancements in recycling methodologies have enhanced the quality and functional properties of recycled elastomers, positioning them as a viable alternative across construction, automotive, and sports applications and thereby supporting sustained 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 expansion of the recycled elastomers market is primarily driven by the global shift toward sustainable materials, fueled by growing environmental concerns such as pollution and mounting landfill waste. Regulatory authorities worldwide are implementing stricter waste management and recycling standards, incentivizing the adoption of recycled elastomers as environmentally responsible alternatives to virgin rubber.

These regulatory frameworks, coupled with increasing corporate and municipal commitments to sustainability, are significantly supporting market growth. Furthermore, advancements in recycling technologies have enhanced production efficiency and improved the quality of recycled elastomers, making them more attractive for application across diverse industrial sectors and contributing to overall market expansion.

Challenges:
Despite positive market momentum, the recycled elastomers sector faces notable challenges. Current recycling technologies often encounter difficulties in meeting the rigorous quality requirements necessary for high-performance applications, limiting product purity and mechanical performance. These technical constraints restrict the use of recycled elastomers in specialized or premium applications. Additionally, the lack of standardized regulations governing the quality and utilization of recycled elastomers creates uncertainty for both manufacturers and end-users. Operational complexities related to installation and maintenance, compared with conventional materials, further hinder widespread adoption in certain industries.

Regional Trends:
The Asia-Pacific region is projected to secure a significant share of the recycled elastomers market and is expected to register robust compound annual growth rates (CAGR) over the forecast period. This growth is supported by intensified sustainability initiatives, stringent environmental regulations, and technological advancements that have enhanced the efficiency and feasibility of elastomer recycling.

North America also maintains a strong market presence, driven by extensive utilization of recycled elastomers in the construction sector, the implementation of sustainable business practices, and a well-established infrastructure for recycling and material recovery. Ongoing technological innovation in the region continues to underpin 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.