Reclaimed Rubber Market – Market Overview
Reclaimed Rubber is a cured type of rubber, which is synthesized by passing the rubber latex through various thermo-chemical processes. It is soften by shortening the polymer chain. The major applications wherein the reclaimed rubber finds their usage are aircraft, retreading, belts & hoses & seals, automobiles, adhesives and footwear. The major factor favoring growth of this market are growing demand from automotive industry on account of high thermal & UV resistance and greater durability of the product. The major use of the product in automotive can be observed in manufacturing tires, tubes, belts and hoses. In 2017, the global automotive production grew by over 2% and is estimated to witness increasing demand from across the globe. In addition to this, rapid growth of aerospace industry due to rising demand for commercial aircrafts, especially from developing countries is likely to bolster market growth. Increasing use of reclaimed rubber in the manufacturing of footwear is stimulating the product demand coupled with changing trends and increased aspiration based purchasing. Stringent government regulations to promote recyclable material usage to reduce environmental pollution is driving the market growth.
Reclaimed Rubber Market- Competitive Landscape
The Global Reclaimed Rubber is steadily gaining momentum with technological advancements and rising sentiments in against environmental hazards of ineffective disposal of end-of-life rubber products. The market accommodates significant number of major players. The Global Reclaimed Rubber Market comprised of several major players operating in the market including some Tier 1 to many small scale manufacturers. MICHELIN, Perpetual Rubber, HUXAR, and Minar Reclamation Pvt. Ltd. are the major reclaimed rubber producers, and others are the small-scale producers majorly from Asian market. The market is steadily moving towards growth consolidation wherein the key players are little more concentrated in Asia Pacific and Europe than other regions. The aforementioned companies above are adopting various business tactics such as expansion, acquisition and supply agreements to gain substantial revenue and attain significant market share during the review period.
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Industry/ Innovation/ Related News:
April 19, 2018- The U.S. based buyer, supplier and distributor of scrap the reclaimed rubber, Perpetual Rubber has launched an initiative called “We Buy Rubber”, which is intended to acquire a record amount of rubber in 2018. The acquisition of the recycled rubber is announced to be done through new and existing reclamation partnerships with clients. This move by Perpetual Rubber came into effect after an unprecedented increase in demand for many types of rubber. The firm is set to buy large quantities of various rubbers including butyl, EPDM, nitrile, and natural to neoprene and FKM. According to the company, the hallmark of the “We Buy Rubber” campaign is client privacy and confidentiality is a top priority for Perpetual Rubber under which the company has kept origins of rubber scrap fully secrete. This is expected to increase use of the recycled rubber in coming years.
January 25, 2018- France based leading tire manufacturer Michelin has acquired the U.S. based scrap tire & rubber recycling company Lehigh Technologies. Lehigh has recently developed a patented cryogenic turbo mill technology, which is used by the company to transform rubber from used tires and industrial goods into fresh new rubber materials to manufacture new tires and other products. As per the norms of an agreement, the Lehigh will continue to work normally without any significant change in their operations. According to Michelin, this move would help the company to cut down the amount of raw materials they use to produce new tire and non-tire products. This acquisition is manifestation of the strategic intent of Michelin to foster the use of advanced rubber recycled materials in the tire and non-tire industries.
November 21, 2017- Halcyon Agri Corporation Limited, the Singapore based manufacturer and distributor of natural rubber products globally, has acquired the polymer division of commodity trader RCMA Group. The polymer division produces natural rubber and latex, synthetic rubber, chemicals and reclaimed rubber and provides laboratory and certification services, the companies said. The deal, according to the sources was closed at around USD 33.8 million. With this, Halcyon Agri is likely to gain foothold in the synthetic rubber market.
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