ALBANY, N.Y., April 18, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR estimate the crumb rubber market to expand to a CAGR of 4.8% during the forecast period from 2021 to 2031. The increasing use of crumb rubber in various applications such as construction materials, automotive components, and asphalt substitute fuels the growth of the crumb rubber market.
Growth of the construction industry, wherein crumb rubber is used as a crucial component of concrete structures, fuels the expansion of the crumb rubber market. Crumb rubber is increasingly finding use as a cost-effective substitute of asphalt for road construction. With increasing raw material cost for asphalt and asphalt alternatives, crumb rubber is increasingly substituting them for the demand for high performance road construction material used to prevent cracks and holes.
Crumb rubber is recycled rubber obtained through the recycling of automotive and truck scrap ties. Recycling involves removing steel and tire cord to leave tire rubber with a granular consistency, which with continued processing, further reduces size of particles.
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North America is anticipated to account for substantial revenue to the crumb rubber market over the forecast period. The substantial demand for crumb rubber for applications in sports surfaces, construction materials, and automotive components is fueling the expansion of the crumb rubber market in the region.
Crumb Rubber Market – Key Findings of Report
- Crumb rubber is added to raw materials in the manufacture of several products across a number of end-use industries to improve properties of finished products. Crumb rubber also helps to reduce cost by substituting expensive virgin compounds. This property is attractive to expand applications of crumb rubber such as for pipe re-lining in construction applications.
- Crumb rubber is used in a number of sealants, coatings, and caulk to improve performance characteristics. Crumb rubber is used to seal surfaces, repair small cracks, and reduce erosion and wear & tear of concrete, asphalt, brick, metal, wood, plastics, and tiles for applications in several end-use industries.
- Plastic products, construction materials, and adhesives contribute significant revenue to the crumb rubber market
- Cryogenic grinding and ambient mechanical technique are two major technologies used in the manufacture of crumb rubber. Of the two, cryogenic process produces smoother and smaller crumbs, but is expensive.
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- The 31 to 50 mesh crumb rubber segment finds extensive use in sports surfaces and asphalt. The segment held the leading share of the crumb rubber market in 2020. Nonetheless, 51 to 80 mesh segment accounted for significant share of the crumb rubber market in the same year due to its easy availability and excellent cost-to-performance ratio. The product segment is suitable for concreting in summer, as it moderates heat absorption during concrete curing.
- Developing economies such as India are emerging as key contributors to the revenue of the crumb rubber market. The growth of the manufacturing sector that heavily depends on various raw materials creates opportunities in the crumb rubber market.
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Crumb Rubber Market – Growth Drivers
- Substantial demand for crumb rubber for various applications such as construction materials, automotive components, asphalt, and sports surfaces fuels the growth of the crumb rubber market
- Rise in use of crumb rubber to substitute expensive road construction materials stimulates the crumb rubber market
Crumb Rubber Market – Key Players
Some of the key players operating in the crumb market are;
- Tinna Rubber and Infrastructure Ltd
- Lakin Tire
- Tire Disposal & Recycling
- Intowaste Ltd.
- LIBERTY TIRE RECYCLING
- Emanuel Tire Family of Companies
- Tracc Tire Recycling
- CRM
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The crumb rubber market is segmented as follows;
Crumb Rubber Market, by Type
- Up to 10 Mesh
- 11 to 30 Mesh
- 31 to 50 Mesh
- 51 to 80 Mesh
- Above 80 Mesh
Crumb Rubber Market, by Application
- Automotive Components
- Construction Materials
- Adhesives & Sealants
- Asphalt
- Rubber & Plastic Products
- Shock Absorption & Safety Products
- Sports Surfaces
- Others (including Tire Derived Fuel)
Crumb Rubber Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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