Jul 10, 2020 12:48 PM ET
iCrowd Newswire – Jul 10, 2020
The Global Recycled Elastomers Market has been studied for the forecast period from 2020 to 2027. The global recycled elastomers market is driven by various factors such as rising demand for elastomers in various end-use industries, rising investment on R&D of the environment-friendly products by various companies, government strict rules and regulations to limit carbon emissions and growing infrastructural development in various countries. For instance, India has announced to invest $777.73 billion (Rs 50 trillion) in infrastructure sector by 2022. However, high cost required for the manufacturing of elastomers is a major factor hampering the growth of the global recycled elastomers market during the forecast period.
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The global recycled elastomers market is segmented on the basis of raw material, application, and region.
By raw material, the global recycled elastomers market is sub-segmented into polyurethane rubber, natural rubber, chloroprene rubber, propylene rubber, nitrile butadiene rubber, styrene butadiene rubber and others.
By application, the global recycled elastomers market is sub-segmented into agriculture, medical, playground surfaces, sports products, infrastructure, home, ground, and others.
By geographical region, the global recycled elastomers market is studied among North America (US, Canada, Mexico), Europe (Germany, France, Italy, Spain, UK, rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, rest of Asia-Pacific) and LAMEA (Brazil, Saudi Arabia, South Africa, rest of LAMEA). Among which the Asia-Pacific region is expected to lead the global recycled elastomers market during the forecast period owing to rising population and growing government spending on infrastructure sector in this region.
Major market player included in research study of the global recycled elastomers market are GRP Ltd., American Tire Recycling, Liberty Tire Recycling, Monmouth Rubber & Plastics Corp., RubberForm Recycled Products LLC., Green Rubber One Sdn. Bsd., West Coast Rubber Recycling, J.Allcock & Sons Limited, American Recycling Center, and Austin Rubber Company LLC.
Recent Developments in the Global Recycled Elastomers Market
Liberty Tire Recycling, LLC provides tire recycling services. The company collects and recycles car, truck, and tractor tires. In March 2020, the company announced to acquire Lakin Tire with the support of The Carlyle Group, its majority equity sponsor.
RubberForm Recycled Products LLC manufactures recycled rubber and plastic products. The company specializes in producing custom-molded recycled products including scrap tire rubber and plastic. The company unveiled the launch of its new Web site to offers a unique experience to its customers and build a more high-resolution product image. The new website was developed with the support of The Lockport, New York, a manufacturer of environment-friendly green products for a variety of markets.
American Tire Recycling Group, LLC was founded in 2010. The company’s line of business includes the collection and disposal of refuse systems. In April 2020, the company has announced to increase its commitment towards DistillationTechnology by increasing the number of plants they are proposing to build with an investment of more than $150 million.
Green rubber company has announced to develop its new 25,000 tonne per annum factory units in the outskirts of Kuala Lumpur, Putra Industrial Park.
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Keywords: Recycled Elastomers Market