Ocean View, DE -- (SBWIRE) -- 06/22/2020 -- Rapid expansion of global road construction activities in developing regions will drive recycled elastomers market forecast over the coming years. This can be mainly attributed to the robust growth of global automotive and transportation sector. Recycled elastomers are predominantly used as an additive or an asphalt binder in modified bitumen for the construction of durable roads and other surfaces.

Frontrunners in the Recycled Elastomers Market:

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, Klean Industries, Genan Holding, Rubbergreen, Entech Inc., Emanuel Tire Co.

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Competition in the availability of raw materials is anticipated to be a major factor hampering the demand for recycled elastomers in the future. Statistically, about 75% of recycled rubber is obtained from scrap tires. These tires find extensive application as a source of energy in numerous end-use industries such as cement and steel.

Global Market Insights, Inc., estimates that global recycled elastomers market size will be worth more than US$6 billion by 2025. The industry share is classified on the basis of raw material, application and region. The raw material segment is further segmented into natural rubber, chloroprene rubber, polyurethane rubber, propylene rubber, NBR, SBR, and others.

Propylene rubber segment is projected to account for more than one-fifth revenue share in global recycled elastomers market by 2024. This can be linked with advantages such as excellent chemical resistance. Based on application, recycled elastomers industry share is segmented into sports products, agriculture, medical, playground surfaces, home & garden, infrastructure and several others.

Playground surfaces application segment is estimated to register a robust 10% CAGR over 2018-2025. Recycled elastomers are widely sued in flooring purposes in parks and playgrounds on account of characteristics such as superior resistance to abrasion, heat, and water.

The raw material segment in the recycled elastomers market is bifurcated into NBR, SBR, chloroprene rubber, propylene rubber, natural rubber, polyurethane rubber, and others. Based on revenue, the propylene rubber segment is expected to tap over a fifth of the overall market share by 2024 on account of its exceptional chemical resistance properties.

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Meanwhile, in terms of application, the recycled elastomer market is bifurcated into agriculture, medical, playground surface, sports product, infrastructure, home & garden. Studies suggest that the playground surface segment may record more than 10% CAGR in the forthcoming years. Extensive use in flooring applications across parks and playgrounds due to its excellent abrasion and heat & water-resistant properties may spur market growth.
On a geographical front, North America and Europe are expected to offer lucrative growth opportunities to recycled elastomers market. Substantial increase in personal income coupled with changing standard of living could supplement the region's infrastructure and sports product manufacturing industries, which in return would augment recycled rubber demand. With this, studies suggest that Europe and North America would collectively hold for over 30% of the worldwide recycled elastomers market share.

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