Newark, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.68 billion in 2022 global crumb rubber market will reach USD 2.79 billion by 2032. The importance of seamless mobility and connectivity is known to every federal government worldwide. Road's drive economic growth. They are vital to any country's progress. Therefore, global government institutions offer an extensive outlay of infrastructural plans and funding in every year's budget. These projects are associated with integrating new technologies that make roads more sustainable, long-lasting and of superior quality. For instance, "Basic Road Statistics in India-2018-19" reports that India had the second-largest road network in the world as of March 31, 2019. The country has an estimated total length of approximately 63, 31, 757 kilometres. From the 1950s to 2018–19, there has been a steady expansion in building roads in various categories. Similar trends are being observed worldwide. The rising construction of roads will propel the demand for crumb rubber in the asphalt market, driving its growth in the forecast period.
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Key Insight of the global Crumb rubber Market
Asia Pacific is expected to grow the fastest during the forecast period.
Given its large population and rising per capita income, the Asia Pacific is predicted to grow quickly during the projected period. The need for homes, commercial office space, utilities, and autos is driven by rising income levels, accelerating the growth of the local crumb rubber market. Expanding the region's crumb rubber industry will be aided by the growing federal and state capital infrastructure spending and private investment in construction and building.
In 2022, the crumb rubber from the commercial vehicle segment dominated the market with the largest market share of 68% and market revenue of 1.14 billion.
The product type segment is divided into crumb rubber from passenger car and crumb rubber from commercial vehicle. In 2022, the crumb rubber from commercial vehicle segment dominated the market with the largest market share of 68% and market revenue of 1.14 billion.
In 2022, the asphalt segment dominated the market with the largest market share of 38% and market revenue of 0.63 billion.
The application segment is divided into automotive components, adhesives and sealants, rubber and plastic products, sports surfaces, construction materials, asphalt, shock absorption and safety products and others. In 2022, the asphalt segment dominated the market with the largest market share of 38% and market revenue of 0.63 billion.
Advancement in market
May 2022 - According to a recent study, the rate of solar damage to roadways can be cut in half by combining bitumen with rubber from used tyres. In Australia, researchers from RMIT University worked with Tyre Stewardship Australia (TSA) to find the perfect mixture that is both UV-resistant and able to endure traffic loads, potentially saving governments millions on yearly road maintenance. Roads are not designed with solar protection, making them susceptible to cracking and potentially unsafe to drive on. This contrasts with the design of much outdoor infrastructure, such as playground equipment and outdoor furniture. Along with providing sun protection, using recycled rubber offers a hopeful, long-term solution to Australia's used-tire dilemma, as the export of used tyres from Australia has been prohibited since December 2020.
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 1.68 Billion |
| Market Size in 2032 | USD 2.79 Billion |
| CAGR | 5.20% |
| No. of Pages in Report | 237 |
| Segments Covered | The research segment is based on product type and application. |
| Drivers | The rising infrastructural development |
| Opportunities | The growing applications of crumb rubber |
| Restraints | High cost of producing crumb rubber |
Market Dynamics
Driver: Infrastructure development is accelerating worldwide.
The last few decades have seen remarkable advancement in the world. The demand for housing, urban transportation, markets, and other public utilities has expanded due to the growing world population. In addition, the demand for better infrastructure, including roads, bridges, homes, offices, entertainment venues, and shopping malls, has expanded due to fast urbanization and industrialization. All economies recognize the value of a strong infrastructure. Furthermore, the rising disposable income has raised a demand for housing, offices, shops, entertainment venues, highways, etc., which has sparked private investment in infrastructure projects. As new infrastructure is constructed, new technologies and building materials are included to create stronger, longer-lasting infrastructure. Construction materials benefit from crumb rubber's excellent strength, which increases their resilience, adaptability, longevity, and sustainability. With its numerous economic and environmental advantages, crumb rubber usage in infrastructure projects is growing. Thus, the expansion of the worldwide crumb rubber market will be fuelled by the increase in infrastructure-related activities.
Restraint: High production costs for crumb rubber.
Ambient grinding and cryogenic grinding are the two main methods used to make crumb rubber. Cryogenic grinding is chosen Because it produces finer particles and better-performing crumb rubber. In this example, the procedure of chilling a substance, rubber, and then reducing it to a microscopic particle size is known as cryogenic grinding. The process of reduction is known as freezer grinding or freezer milling. Low temperatures cause the rubber to become brittle, which makes them simpler to grind. Liquid nitrogen is employed To lower the heat and cool the rubber. The procedure is, nevertheless, pricy and not economical. Using nitrogen also increases the risks to one's health at work. Moreover, the procedure produces a significant amount of heat, and using high-grade oxygen could raise the danger of flammability or combustion. Hence, the market's expansion will be constrained by the high cost of cryogenic grinding and associated risks.
Opportunities: Applications for crumb rubber are expanding.
Crumb rubber has several other uses besides being heavily used in road construction. It is employed in the automotive sector to make tyres. The tyres are preferable because they offer better durability, more flexibility, superior thermal insulation, waterproofing abilities, and strong resistance to the elements. They are sustainable because they lessen the environmental strain of recycled products that don't end up in landfills and make the best use of automotive waste. They are also used in AstroTurf and tracks in the sports business. Open gyms, playgrounds, and other sporting places have grown in popularity due to the value placed on physical fitness and competitive sports, which is good news for the crumb rubber industry. Adhesives, polymers, and rubbers used in various end-user sectors also contain crumb rubber. They are also utilized in the building and construction industry for pavements, safety equipment, etc. The high strength, longevity, flexibility, water and impact resistance, thermal insulation, and minimal shrinking qualities facilitate its range of uses. Crumb rubber is used in the industries mentioned to increase product performance, lower maintenance costs, and lengthen product lifespans. The environmental sustainability of crumb rubber promotes government backing for its application in numerous industries. Additionally, it helps with research and development to enhance the product and broaden its uses, providing market participants with profitable chances.
Challenge: The use of crumb rubber in sporting goods is a cause of health concern.
Children and young people are directly connected to using crumb rubber in artificial turfs, track fields, and sports safety equipment. Metals, volatile chemicals, and organic compounds found in rubbers—substances that could be dangerous—transfer to crumb rubber even after rigorous processing. Children can be exposed to these pollutants through inhaling, skin contact, or ingestion. Stakeholders also worry about the hard turfs and the potential for microbial diseases. Adequate studies do not support these worries, but the proliferation of false information on the internet threatens the market's expansion.
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Some of the major players operating in the global crumb rubber market are:
• CRM
• Emanuel Tire Family of Companies
• Entech Inc.
• Lakin Tire
• Liberty Tire Recycling
• Mahantango Enterprises
• Sunflex Recycling Pvt. Ltd.
• Tinna Rubber and Infrastructure Limited
• Tire Disposal & Recycling
• Tracc Tire Recycling
Key Segments cover in the market:
By Product Type
• Crumb Rubber from Passenger Car
• Crumb Rubber from Commercial Vehicle
By Application
• Automotive Components
• Adhesives and Sealants
• Rubber and Plastic Products
• Sports Surfaces
• Construction Materials
• Asphalt
• Shock Absorption and Safety Products
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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