Butyl Reclaimed Rubber Market Insights and Industry Analysis by Application (Adhesives, Waterproofing Sheets, Tires, Tube Industry, Others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2030
New York, USA, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Butyl Reclaimed Rubber Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Butyl Reclaimed Rubber Market Information by Application, and Region - Forecast till 2030”, the market is estimated to grow at 12.10% CAGR to reach USD 1,457.9 Million by 2030.
Butyl reclaimed rubber can bear extremely high temperatures and is extracted from scrap butyl rubber tubes as well as butyl capsules.
Butyl reclaimed rubber products have an airtight nature and are generally used for developing butyl capsules, butyl inner tyres, and various rubber products. Some of the impressive properties of butyl reclaimed rubber are excellent performance, durability and reliability.
Applications Of butyl reclaimed rubber are black-colored rubber products, cycle tyres, auto tyres, molded goods, tread rubber, adhesives, footwear, and more.
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Increase demand in heavy heavy-duty vehicles
Surging consumer awareness regarding the cost-effective and eco-friendly
The affluent vendors in the butyl reclaimed rubber industry are
High Tech Reclaim Pvt. Ltd Inc.
Rubber Resources B.V Inc.
The worldwide market is characterized by numerous small-scale developers with obsolete manufacturing technologies as well as limited capacity, particularly in developing countries. This however; gives major advantage to the new players with advanced processing technologies.
Butyl reclaimed rubber is developed from already used butyl tubes via desulfurization. This synthetic rubber is a copolymer of isobutylene along with isoprene and is impermeable to air. This elevates its use in applications that need airtight rubber. It has a more rapid vulcanization rate along with higher polarity in comparison with virgin butyl rubber. This makes it more compatible with various types of rubber along with improved aging resistance.
The worldwide demand for butyl reclaimed rubber is bolstered by supportive regulations started by governments everywhere to encourage the use of sustainable materials as alternatives to traditional virgin rubber. The escalating use of butyl reclaimed rubber from diverse end-use industries such as footwear, automotive & aircraft tires, retreading, molded rubber goods manufacturing, and belts & hoses will favor the global industry as well.
The International Organization of Motor Vehicle Manufacturers (OICA) says that the United States is the top producer and consumer of commercial vehicles out of all the countries. Despite the COVID-19 outbreak, the country has been experiencing booming sales of pickup trucks. Tire retreading is a common activity carried out in heavy-duty commercial vehicles since tire replacement is expensive. Tire retreading is an economical and feasible option for the majority of commercial vehicle owners. The thriving automotive sector in the U.S. and also in various parts of the world will enhance the butyl reclaimed rubber industry size in subsequent years.
Lower usage of advanced production technologies can have a negative impact on the worldwide market. This can also be the result of low investments.
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The butyl reclaimed rubber market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain has been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials coupled with the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
The key applications of butyl reclaimed rubber are Tube Industry, Waterproofing Sheets, Tires and Adhesives.
The tires segment is bound to have an impressive run in the worldwide market over the review period. The rising international logistics business along with passenger travel following the relaxation of the lockdown and travel restrictions has pushed the demand for aircraft tires. This will surely bolster the demand and use of butyl reclaimed rubber in the tire industry over the years to come.
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Companies like Milin Environmental in North America are actively involved with the vendors part of the rubber sector, supplying them with high-quality butyl reclaimed rubber materials. The demand for the same is especially high in the industrial gasket and automotive industries. Butyl reclaimed rubber in the region is extensively used in the automotive sector for the production of automobile tires and more.
In Europe, the massive expansion rate of the automotive sector coupled with the rising product use in the manufacturing of belts, hoses, and tires will foster the growth rate of the butyl reclaimed rubber industry in the following years.
The Asia Pacific market is the second biggest developer of butyl reclaimed rubber, with China in the lead. India is one of the major users, and producers of automobiles, which means significant growth prospects for the butyl reclaimed rubber industry. Companies in the region are focused on strategic contracts and acquisitions to remain competitive in the next several years. A few other important markets in the region are Vietnam, Malaysia, Macau, Hong Kong, Australia, the Republic of Korea, as well as Indonesia.
The impressive growth of the automotive sector and the subsequent surge in the demand for tires bolsters the Latin American market’s growth rate. Some major consumers of butyl reclaimed rubber in Latin America are Argentina, Brazil, Ecuador, Chile, and Mexico.
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