Crumb Rubber
Market: Overview
·
Crumb rubber is made by
reducing scrap tires into small, uniform granules. Inherent reinforcing
materials of scrap tires, such as steel and fiber, are removed along with other
types of inert contaminants such as dust, glass, and rock. Crumb rubber is used
in various applications in rubber flooring, removable speed bumps, and athletic
surfaces including playgrounds, sports courts, and athletic turfs.
·
Crumb rubber adds characteristics that improve the properties of
finished products. It also helps lower costs by replacing more expensive virgin
compounds.
Key Drivers of
Crumb Rubber Market
·
Besides creating market awareness and establishing demand and
distribution networks, the crumb rubber industry needs to maintain a high
quality of products in order to expand significantly
·
Demand for more number of walking trails is anticipated to create
lucrative opportunities for the global crumb rubber market. Sport and landscape
surfacing are estimated to expand rapidly, while playground surfacing is a
viable alternative for recycled used tires.
·
Increase in demand for underlayment for walking trails and pavements
that act as cushioning layer over concrete foundations of homes and paving
material for home patios is expected to drive the global crumb rubber market in
the near future
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Lack of Consumer
Awareness to Hamper Market
·
Prices of crumb rubber are projected to decline during the forecast
period owing to the lack of penetrative marketing, dearth of consumer
awareness, and poor distribution networks. This is anticipated to hamper the
global crumb rubber market in the near future.
Key Segments of
Crumb Rubber Market
·
The floor mats application segment is expected to expand at the rapid
pace during the forecast period. Floor mats consume between 50 million tons and
100 million tons of crumb rubber yearly. Sport and playground surfaces are projected
to consume higher number of crumb rubber due to the lack of buffing. Sport and
playground surfaces use more than 100 million pounds of crumb rubber yearly.
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Asia Pacific
Expected to Hold Large Share of Global Crumb Rubber Market
·
Asia Pacific has become the hub of the automotive industry over the last
few years. Increase in demand for automobiles in emerging countries such as
China and India is driving the automobile industry, thereby boosting the crumb
rubber market. Strong government support and ad-hoc tax incentives have led to
robust double-digit sales growth, typically in the automotive industry in
China. Rise in demand for small and fuel-efficient passenger vehicles in
countries such as Thailand, Malaysia, and Indonesia is also anticipated 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 in Middle
East & Africa, is expected to be a key factor driving the crumb rubber
market in the region. Morocco, Egypt, and Iran are the leading motor vehicle
producers in Middle East & Africa, while the major sales markets include
Iran, Saudi Arabia, Egypt, and the UAE. Thus, expansion in the automotive
sector in the region is augmenting the crumb rubber market.
·
In terms of demand, Asia Pacific is followed by North America and
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 rubber
in the U.S.
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Chemicals and Materials
Sector
The Crumb Rubber market has been undergoing some remarkable
growth dynamics, shaped increasingly by digital technologies and environmental
sustainability concerns of product development. Over the decades, the feedstock
variability and the onslaught of cheaper substitutes have squeezed in profit
margins of the chemical and materials sector. On the other hand, the value
chain of several businesses in the Crumb Rubber market has undergone overhaul,
increasingly rendering some aspiring players with greater control over the
forces and demand. The penetration of Industry 4.0 in in the market has stirred
game-changing trends for range of stakeholders in the overall chemicals and
materials sector. Manufacturing and production environments of businesses in
the Crumb Rubber market are keen on formulating and implementing strategic
frameworks that will turn them into digital enterprises.
