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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Key Players in Market
The global crumb rubber market is highly fragmented with top manufacturers accounting for approximately 45% to 50% share. Key players operating in the crumb rubber market include:
- LIBERTY TIRE RECYCLING
- Lakin Tire
- Emanuel Tire Family of Companies
- Tire Disposal & Recycling
- Maxan Corporation Pvt Ltd
- Tracc Tire Recycling
- Intowaste Limited
Global Crumb Rubber Market: Research Scope
Global Crumb Rubber Market, by Car Type
- Passenger Cars
- Commercial Vehicles
Global Crumb Rubber Market, by Application
- Tire Derived Fuel
- Ground Rubber
- Civil Engineer
- Floor Mats
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