Published March 15, 2018
In the U.S., markets for tire crumb include new rubber products, playground, synthetic turf, tracks and other sports surfacing, and rubber-modified asphalt. The tire crumb used in these ground rubber applications consumed 1,020,000 tons of scrap tires in 2015, or about 26% of the volume of scrap tires generated. Sports surfaces accounted for 25% of tire crumb use.
In the global market, reclaimed rubber will tend to grow at a CAGR (Compound Annual Growth Rate) of 10.33% during the period 2017-2021, researchandmarketing.com affirms in it’s later report.
This report states that Global Reclaimed Rubber Market will grow over the coming years, because of it’s increasing demand for reclaimed rubber in APAC (Asia Pacific), that accounted for the largest market share of the global reclaimed rubber market in 2016. It is anticipated to be the fastest growing market during the following years due to the rapid advances in manufacturing technology and the high demand for rubber from various industries in Indonesia, India, Vietnam, Thailand, and China. Furthermore, the expanding automotive and aerospace industries, especially in China, Thailand, and India, are likely to drive the demand for reclaimed rubber during the forecast period. One trend in the market is increasing demand for reclaimed rubber tires from automotive industry. The growth of the automotive industry has resulted in high demand for reclaimed rubber tires. Reclaimed rubber is used in automotive tires to improve its resistance to sunlight, ozone, heat, and mechanical stress. With the rising use of tires in vehicles, the demand for reclaimed rubber will increase during the forecast period. (data obtained from researchandmarketing.com)