Reclaimed Rubber Market

The global market for reclaimed rubber is anticipated to experience growth in both volume and value over the period from 2022 to 2030, with forecasts indicating a steady increase in consumption trends. Key highlights include insights into consumption patterns, production trends, import and export dynamics, and the top countries driving market growth. China, the United States, and India emerge as key players in both consumption and production of reclaimed rubber, with significant growth rates recorded in certain years. Overall, the market is poised for growth in the near future.

Market Forecast

Driven by rising demand for reclaimed rubber worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.0% for the period from 2022 to 2030, which is projected to bring the market value to $4.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Reclaimed Rubber

In 2022, approx. 2.6M tons of reclaimed rubber were consumed worldwide; reducing by -11% on 2021. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak volume of 3M tons. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global reclaimed rubber market revenue dropped significantly to $2.8B in 2022, declining by -19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the global market hit record highs at $3.7B in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of reclaimed rubber consumption was China (709K tons), comprising approx. 27% of total volume. Moreover, reclaimed rubber consumption in China exceeded the figures recorded by the second-largest consumer, the United States (334K tons), twofold. India (180K tons) ranked third in terms of total consumption with a 7% share.

In China, reclaimed rubber consumption expanded at an average annual rate of +3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.5% per year) and India (-1.0% per year).

In value terms, Turkey ($728M), China ($637M) and the United States ($253M) constituted the countries with the highest levels of market value in 2022, together accounting for 58% of the global market.

Among the main consuming countries, the United States, with a CAGR of +2.6%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of reclaimed rubber per capita consumption in 2022 were the United States (996 kg per 1000 persons), the UK (901 kg per 1000 persons) and France (890 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +2.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Reclaimed Rubber

In 2022, after two years of growth, there was significant decline in production of reclaimed rubber, when its volume decreased by -8.7% to 2.8M tons. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 11% against the previous year. As a result, production reached the peak volume of 3.1M tons. From 2014 to 2022, global production growth failed to regain momentum.

In value terms, reclaimed rubber production shrank to $2.8B in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Global production peaked at $4.3B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of reclaimed rubber production was China (658K tons), accounting for 24% of total volume. Moreover, reclaimed rubber production in China exceeded the figures recorded by the second-largest producer, India (327K tons), twofold. The third position in this ranking was held by the United States (300K tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +1.1%. The remaining producing countries recorded the following average annual rates of production growth: India (+2.0% per year) and the United States (+4.9% per year).

Imports

World Imports of Reclaimed Rubber

In 2022, the amount of reclaimed rubber imported worldwide amounted to 502K tons, stabilizing at 2021. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 28% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, reclaimed rubber imports rose to $410M in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

In 2022, China (141K tons), distantly followed by the United States (85K tons) and Canada (26K tons) represented the major importers of reclaimed rubber, together mixing up 50% of total imports. South Korea (17K tons), Sri Lanka (17K tons), El Salvador (16K tons), Thailand (14K tons), Indonesia (12K tons), the Czech Republic (12K tons), the UK (12K tons), Vietnam (11K tons), the Netherlands (11K tons) and Turkey (10K tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by El Salvador (with a CAGR of +99.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber importing markets worldwide were China ($93M), the United States ($84M) and South Korea ($16M), together accounting for 47% of global imports. Canada, the Netherlands, Thailand, Sri Lanka, the UK, Vietnam, the Czech Republic, Indonesia, Turkey and El Salvador lagged somewhat behind, together comprising a further 24%.

El Salvador, with a CAGR of +69.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average reclaimed rubber import price amounted to $816 per ton, remaining stable against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2021 an increase of 5.5%. Global import price peaked at $1,004 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($1,201 per ton), while El Salvador ($164 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Reclaimed Rubber

In 2022, shipments abroad of reclaimed rubber increased by 9% to 679K tons, rising for the second consecutive year after two years of decline. In general, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, reclaimed rubber exports expanded significantly to $468M in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, India (147K tons), distantly followed by China (90K tons), Thailand (76K tons), Canada (69K tons), the United States (51K tons), the Netherlands (48K tons) and Malaysia (33K tons) were the largest exporters of reclaimed rubber, together making up 76% of total exports. The UK (26K tons), Portugal (17K tons), Croatia (15K tons) and Germany (11K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +99.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber supplying countries worldwide were India ($123M), China ($88M) and Canada ($62M), together accounting for 58% of global exports. The Netherlands, the United States, Thailand, Malaysia, Germany, Portugal, the UK and Croatia lagged somewhat behind, together accounting for a further 28%.

Among the main exporting countries, Croatia, with a CAGR of +119.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average reclaimed rubber export price amounted to $690 per ton, increasing by 1.9% against the previous year. In general, the export price, however, recorded a perceptible decline. The growth pace was the most rapid in 2013 when the average export price increased by 11%. As a result, the export price reached the peak level of $1,006 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($977 per ton), while the UK ($192 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+10.2%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform