Market revenue in 2021 | USD 18.3 million |
Market revenue in 2028 | USD 36.8 million |
Growth rate | 10.5% (CAGR from 2021 to 2028) |
Largest segment | Whole tyre reclaim rubber |
Fastest growing segment | EPDM Reclaim Rubber |
Historical data | 2017 - 2020 |
Base year | 2021 |
Forecast period | 2022 - 2028 |
Quantitative units | Revenue in USD million |
Market segmentation | Whole Tyre Reclaim Rubber, Butyl Reclaim Rubber, EPDM Reclaim Rubber, Other products |
Key market players worldwide | Shandong Ruibote New Material Co |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to reclaimed rubber market will help companies and investors design strategic landscapes.
Whole tyre reclaim rubber was the largest segment with a revenue share of 44.26% in 2021. Horizon Databook has segmented the Gulf Cooperation Council reclaimed rubber market based on whole tyre reclaim rubber, butyl reclaim rubber, epdm reclaim rubber, other products covering the revenue growth of each sub-segment from 2017 to 2028.
As consumers are being financially cautious and the overall consumer confidence reducing, the purchase of preowned vehicles is expected to witness an upward trend.
The growing demand for preowned vehicles along with the maintenance services is expected to create issue of old tires replacement and dumping in the region.
The growing environmental concerns arising from tire dumping are expected to push the governments of GCC countries to invest in setting up tire recycling facilities. This, in turn, is expected to contribute to the growth of reclaimed rubber market in these countries over the forecast period.
Horizon Databook provides a detailed overview of country-level data and insights on the Gulf Cooperation Council reclaimed rubber market , including forecasts for subscribers. This country databook contains high-level insights into Gulf Cooperation Council reclaimed rubber market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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