Crumb Rubber Market: Overview
· Crumb rubber is made by reducing scrap tires into small, uniformgranules. Inherent reinforcing materials of scrap tires, such as steel andfiber, are removed along with other types of inert contaminants such as dust,glass, and rock. Crumb rubber is used in various applications in rubberflooring, removable speed bumps, and athletic surfaces including playgrounds,sports courts, and athletic turfs.
· Crumb rubber adds characteristics that improve the properties offinished products. It also helps lower costs by replacing more expensive virgincompounds.
Key Drivers of Crumb Rubber Market
· Besides creating market awareness and establishing demand anddistribution networks, the crumb rubber industry needs to maintain a highquality of products in order to expand significantly
· Demand for more number of walking trails is anticipated tocreate lucrative opportunities for the globalcrumb rubber market. Sport and landscape surfacing are estimated toexpand rapidly, while playground surfacing is a viable alternative for recycledused tires.
· Increase in demand for underlayment for walking trails andpavements that act as cushioning layer over concrete foundations of homes andpaving material for home patios is expected to drive the global crumb rubbermarket in the near future
Lack of Consumer Awareness to Hamper Market
· Prices of crumb rubber are projected to decline during theforecast period owing to the lack of penetrative marketing, dearth of consumerawareness, and poor distribution networks. This is anticipated to hamper theglobal crumb rubber market in the near future.
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Key Segments of Crumb Rubber Market
· The floor mats application segment is expected to expand at therapid pace during the forecast period. Floor mats consume between 50 milliontons and 100 million tons of crumb rubber yearly. Sport and playground surfacesare projected to consume higher number of crumb rubber due to the lack ofbuffing. Sport and playground surfaces use more than 100 million pounds ofcrumb rubber yearly.
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Asia Pacific Expected to Hold LargeShare of Global Crumb Rubber Market
· Asia Pacific has become the hub of the automotive industry overthe last few years. Increase in demand for automobiles in emerging countriessuch as China and India is driving the automobile industry, thereby boostingthe crumb rubber market. Strong government support and ad-hoc tax incentiveshave led to robust double-digit sales growth, typically in the automotiveindustry in China. Rise in demand for small and fuel-efficient passengervehicles in countries such as Thailand, Malaysia, and Indonesia is alsoanticipated to propel the automobile sector in these countries. This, in turn,is projected to boost the crumb rubber market in Asia Pacific.
· Increase in investments in the automotive sector, typically inMiddle East & Africa, is expected to be a key factor driving the crumbrubber market in the region. Morocco, Egypt, and Iran are the leading motorvehicle producers in Middle East & Africa, while the major sales marketsinclude Iran, Saudi Arabia, Egypt, and the UAE. Thus, expansion in the automotivesector in the region is augmenting the crumb rubber market.
· In terms of demand, Asia Pacific is followed by North Americaand Europe. The U.S. has one of the largest automotive industries in the world.Light vehicle sales in the country stood at 17.2 million units in 2018. Thus,growth in the automobile sector is likely to drive the demand for crumb rubberin the U.S.
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Key Players in Market
The globalcrumb rubber market is highly fragmented with top manufacturers accounting forapproximately 45% to 50% share. Key players operating in the crumb rubbermarket include:
· LIBERTY TIRE RECYCLING
· Lakin Tire
· Emanuel Tire Family of Companies
· Tire Disposal & Recycling
· Maxan Corporation Pvt Ltd
· Tracc Tire Recycling
· Intowaste Limited
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