South Korea Ground Rubber Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
The South Korea Ground Rubber Market is witnessing significant growth as various industries begin to realize the numerous benefits of recycled rubber. Ground rubber is a product derived from the shredding and processing of used tires, transforming them into a versatile material that is highly sought after across multiple sectors. South Korea, known for its innovative approach to sustainability and waste management, has emerged as a key player in the global ground rubber market.
One of the primary drivers of this market is the increasing demand from industries such as construction, automotive, and manufacturing. The construction sector, for instance, utilizes ground rubber in the production of rubberized asphalt, which enhances road durability and reduces maintenance costs. This is especially important in South Korea, where the government has been actively promoting sustainable infrastructure projects. Additionally, ground rubber is increasingly being used in sports surfaces like running tracks and playgrounds due to its shock-absorbing qualities.
In the automotive industry, ground rubber is gaining traction as a material for tire production and other automotive components. As the demand for eco-friendly vehicles rises, manufacturers are turning to recycled rubber as a cost-effective and environmentally friendly alternative. This shift is supported by regulations and incentives aimed at reducing the carbon footprint of the automotive sector.
Moreover, ground rubber has found applications in the manufacturing of products like mats, gaskets, and seals, as it offers excellent durability and flexibility. The demand for such products is steadily increasing as industries seek more sustainable materials to replace traditional ones.
As South Korea continues to expand its recycling capabilities and invests in green technologies, the ground rubber market is expected to grow even further. The push for sustainability, combined with the versatility of ground rubber, positions it as a key resource for a wide range of industries. Companies involved in the production of ground rubber are continuously innovating, developing new methods to enhance the material's properties and widen its application scope.
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LIBERTY TIRE
BSA
Lakin Tire
CRM
Emanuel Tire
Tire Disposal & Recycling
Entech
Tri-C Manufacturing
Manhantango Enterprises
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Ground Rubber Market
Tire Manufacturing
Construction Materials
Automotive Parts
Athletic Surfaces
Industrial Rubber Products
Crumb Rubber
Ground Rubber Powder
Rubber Granulate
Rubber Mulch
Rubber Composite Materials
Recycled Rubber
Natural Rubber
Synthetic Rubber
Direct Sales
Distributors
Online Retail
Wholesale
Construction Industry
Automotive Industry
Sports and Recreational Sector
Agriculture
Others (e.g., flooring, insulation)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Ground Rubber Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Ground Rubber Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Ground Rubber Market, By Type
6. South Korea Ground Rubber Market, By Application
7. South Korea Ground Rubber Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Ground Rubber Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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