Statistics on Global Recovered Carbon Black Market Size & Share to Surpass USD 508.29 Million by 2028, Exhibit a CAGR of 31.50% | Industry Trends, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, Aug. 2, 2022 /PRNewswire/ -- As per Zion Market Research study, the global recovered carbon black market size was worth around USD 98.30 million in 2021 and is estimated to grow to about USD 508.29 million by 2028, with a compound annual growth rate (CAGR) of approximately 31.50% over the forecast period.
Recovered Carbon Black Market: Overview
Recovered carbon black is an environmentally friendly material that is primarily made from the pyrolysis of used tires during recycling. Utilizing and recycling used tires and recovered carbon black benefits both the environment and the economy. Recovered carbon black is widely employed as a reinforcing agent in the production of numerous rubber goods other than tires. Hoses, conveyor belts, gaskets, rubber sheets, seals, geomembranes, and rubber roofs are some of these goods. Additionally, it has uses in coatings, plastic masterbatches, inks, and other things. Due to the growing demand for environmentally friendly options to reduce carbon footprint, the recovered carbon black market is rife with prospects. The market is widely used as a cost-effective and environmentally friendly supporting filler in both the non-tire and tire sectors. The constantly expanding auto and transportation sectors are what is driving the global market for recovered carbon black. Additionally, its application in the manufacture of elastic items is increasing demand from both customers and investors.
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Key Industry Insights & Findings of the Recovered Carbon Black Market Reports:
- As per the analysis shared by our research analyst, the Recovered Carbon Black Market is expected to grow annually at a CAGR of around 31.50 % (2022-2028).
- Through the primary research, it was established that the Recovered Carbon Black Market was valued at approximately USD 98.30 million in 2021 and is projected to reach roughly USD 508.29 million by 2028.
- The expansion of the global recovered carbon black market will be fueled by the expansion of the transportation and automotive industry. Additionally, strict government regulations due to the use of the product in various end-use industries and low as well as the fixed price of recovered carbon black (rCB) across the globe are the major factors driving the growth of the market.
- The region has emerged as the material's primary consumer as a result of growing production and consumption of recovered carbon black in countries including the US, Canada, and Mexico.
- High industrial growth is anticipated as a result of the monetary framework and supportive government policies that promote private investment in the manufacturing sector.
- The pandemic is anticipated to slow down all of the manufacturing, including the automotive industry, which will have a detrimental effect on the demand for recovered carbon black.
Zion Market Research published the latest report titled "Recovered Carbon Black Market By Type (Primary Carbon Black and Inorganic Ash), By Grade (Commodity and Specialty), By Application (Tire application, Non-Tire Rubber Application, Plastics Application, Coatings Application, Inks Application, And Others), By End-User (Transportation, Industrial, Printing and Packaging, Building & Construction, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Recovered Carbon Black Market: Growth Drivers
- High demand across end users to spur the market expansion in coming period.
Recovered carbon black (rCB) is increasingly being used in a variety of end-use industries, including transportation, industrial, printing and packaging, building and construction, and others, which is expected to fuel the global recovered carbon black market expansion. Recovered carbon black is frequently used as a reinforcing agent in the non-tire rubber industry to manufacture hoses, conveyor belts, seals, gaskets, geo-membranes, rubber sheets, and rubber roofing.
The market for recovered carbon black will experience a considerable increase as a result of the expansion of the rubber sector. The abundance of recyclable tires will also contribute to the market's value expansion. The market is expected to develop as a result of the automotive industry's expansion.
Recovered Carbon Black Market: Restraints
- High prices of recovered carbon black to restrict market growth.
Because manufacturers are unable to enter the market, industry growth is constrained by the high costs of R&D and capital required to produce recovered carbon black (rCB) at economically viable production levels.
- Growing interest in virgin carbon black to hamper market expansion
One major limitation that is adversely influencing the market is the rising demand for virgin carbon black. This is a result of the automotive industry's growing need for high-quality tires, which raises the price of virgin carbon black. The market growth rate for recovered carbon black (rCB) is anticipated to be hampered by this reason.
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Recovered Carbon Black Market: Opportunities
- A surge in the need for eco-friendly products and research & development to offer growth avenues.
The need for eco-friendly alternatives and lowering carbon footprints present lucrative prospects to market participants during the projection period. The global recovered carbon black market will grow as a result of continuing research and development by manufacturers.
Recovered Carbon Black Market: Challenges
- Concerted efforts needed to boost the industry's potential to pose challenge to market growth.
To boost the industry's use of recovered carbon black and speed the expansion of the rCB sector, all stakeholders must work together. Regulations and research are crucial to the rCB sector. The latter is required so that pyrolysis operators may produce a product that is more uniform and stable, whilst the former would encourage the integration of the industry in the circular economy.
Global Recovered Carbon Black Market: Segmentation
- The global recovered carbon black market is segregated on the basis of grade, end-user, type, application, and region.
The market is split into tire and non-tire rubber, plastics, inks, coatings, and others based on application. It is anticipated that the tire sector will account for the biggest market share during the projected period. One of the early byproducts of the pyrolysis process is recovered carbon black, which is typically added to rubber as a filler and as a strengthening/reinforcing agent. It is utilized in inner liners, sidewalls, carcasses, and treads for a variety of tire types, with different varieties depending on the performance needs.
Primary carbon black and inorganic ash are separated by type. Grades are divided into commodity and specialty categories. The market is divided into transportation, industrial, printing & packaging, building & construction, and other categories depending on the end-user.
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List of Key Players in Recovered Carbon Black Market:
- Bolder Industries Corporate
- Black Bear Carbon B.V.
- Wild Bear Carbon B.V.
- Greetings Green Carbon
- Tyrepress
- Klean Industries
- Radhe Group of Energy
- Scandinavian Enviro Systems AB
- DVA Renewable Energy JSC.
- Pyrolyx AG
- Enrestec Inc.
- Delta-E.
Key questions answered in this report:
- What are the growth rate forecast and market size for Recovered Carbon Black Market?
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Recent Developments
- A cleantech business called Ecolomondo Corporation will start building and running turnkey Thermal Decomposition Process (TDP) offices in January 2022. The company also has ambitions to construct and run a six-reactor TDP plant in the US. This will be the company's first waste-to-assets TDP office in the United States. It will be able to handle and reuse used tires and turn them into assets that can be utilized again.
- A co-marketing agreement to market ground-breaking, sustainable products for the global rubber and plastics industry was announced today by Bolder Industries ("Bolder"), a pioneer in turning end-of-life tires into sustainable industrial products, and Continental Carbon Company ("CCC"), a pioneer in the development and production of furnace-grade carbon blacks for the tire and rubber industry.
- A Memorandum of Understanding (MoU) was signed by Scandinavian Enviro Systems AB (Sweden) with tire recycling company EE-TDF Cleveland (US) in December 2018. In accordance with the conditions of the agreement, the businesses will construct a recycling facility at the current location of EE-TDF Cleveland in Texas, US, that can recycle around 30 kilotons of tires annually. Enviro will be able to increase its market share in the US thanks to this agreement.
Regional Dominance:
- North America dominated the recovered carbon black market in 2021
With a 38.0 percent market share, North America dominated the global recovered carbon black market. The region has emerged as the material's primary consumer as a result of growing production and consumption of recovered carbon black in countries including the US, Canada, and Mexico. The concerns surrounding the disposal of end-of-life tires and the rising demand for environmentally friendly products from these countries' tire, rubber, and automotive industries are expected to propel the market for recovered carbon black during the research period. As a result of the region's businesses adopting waste management programs for recycling and reusing waste goods, the region's manufacturing sector is expanding.
After North America, Europe is the region that uses recovered carbon black the most. The European market demand is anticipated to be driven by the high demand from the tire sector. Throughout the projected period, market growth is anticipated to be boosted by recovering the automotive industries in Austria, France, Romania, and Russia.
After Europe and North America, the Asia Pacific region had the third-largest market for recovered carbon black. Due to the absence of technological developments in the manufacturing of recovered carbon black, the penetration in the region is lower than in industrialized areas. High industrial growth is anticipated as a result of the monetary framework and supportive government policies that promote private investment in the manufacturing sector.
The Covid-19 pandemic, particularly in China and India, is expected to cause havoc in the Asian industrial sector and economy in the latter half of 2020. The pandemic is anticipated to slow down all of the manufacturing, including the automotive industry, which will have a detrimental effect on the demand for recovered carbon black. In 2021, it was expected that the industrial sector would revive, which would help the recovering carbon black market.
Global Recovered Carbon Black Market is segmented as follows:
Recovered Carbon Black Market: By Type Outlook (2022-2028)
- Primary Carbon Black
- Inorganic Ash
Recovered Carbon Black Market: By Grade Outlook (2022-2028)
- Commodity
- Specialty
Recovered Carbon Black Market: By Application Outlook (2022-2028)
- Tire
- Non-Tire Rubber
- Plastics
- Inks
- Coatings
- Others
Recovered Carbon Black Market: By End-User Outlook (2022-2028)
- Transportation
- Industrial
- Printing and Packaging
- Building and Construction
- Others
Recovered Carbon Black Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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