The Global Recovered Carbon Black Market was valued at US$ 78.56Mn in 2019 and is expected to reach XX Mn by 2027, at a CAGR of 45.58% during the forecast period. The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Recovered Carbon Black Market
Recovered carbon black is a material derivedthrough pyrolysis process of tire. The global recovered black carbon market is driven by the growing adoption of product for developing the high-performance covering to provide superior protection capability and aesthetic demand. These covering offer more durability, thus are obtaining large demand in the automotive and aerospace industries. The global automotive production was XX.XX Mn in 2019. The increasing automotive production is expected to rise the demand for high-performance covering along with tires are fueling the market growth.
Recovered carbon black provides cost-effective benefits as well as it reduce carbon footprint because it is formed from waste rubber goods, particularly tires. Thus, it isa reliable and efficient alternative to traditional carbon black in tire manufacturing globally. Global tire production has been increasing at a CAGR of X.3% during the forecast period.
However, the high cost required for R&D activities and the fluctuation in raw material cost may restrain the market growth at a global level. Also, the complicated development process of product, the gap in demand and supply are projected to hamper the market growth in the coming years.The growing requirement of green alternatives to reduce carbon footprints and the rise in demand for tire & rubber products are creating lucrative opportunities in the market growth. Providing consistent quality and less awareness about recovered carbon black are the major challenges in the market growth in near future.
The tire segment held the 71.X% market share in 2019
The MMR report covers the segments in the global recovered carbon black market such as type, application, end-user, and region.
Based on application, the tire segment held the 71.X% market share in 2019 and is expected to grow at a CAGR of XX% during the forecast period. The growth in the transportation sector coupled with the development in emerging economies of the Asia Pacific and Latin America has positive impact on the segment growth in the market over the upcoming period. The global tire production is estimated to reach 255 Mn units in 2019 and is expected to grow at a CAGR of X-X% over the forecast period.
The non-tire rubber segment is estimated to grow at a CAGR of xx% in the forecast period. Recovered carbon black is utilized as a strengthening agent in the manufacture of various non-tire rubber products like hoses, conveyor belts, seals, gaskets, rubber sheets, geomembranes, and rubber roofing. The growth in the rubber industry and the growing demand for environmentally-friendly products are impelling the segment growth in the market.
Global Recovered Carbon Black Market1
North America held the dominant market share of 38.0% in 2019
Geographically, North America held the dominant market share of 38.0% in 2019 and is expected to reach US$ xx Mn by the end of 2027, with a CAGR of xx%. North America is the leading consumer in the market because of the growth in production and consumption of recovered carbon black in the region. Market players are adopting the waste management programs for recycling and reusing waste products are impelling market growth in North America. The problems arising from the dumping of end-of-life tires and the increasing adoption of environmentally-friendly fillers in several applications like tire, non-tire rubber, and plastics are likely to propel the market growth in the near future.
The US, Canada, and Mexico are the leading contributor to the regional market growth. Among these, the US held the largest market share of xx% in 2019 and is expected to grow at a CAGR of xx% during the forecast period thanks to the high-level analysis in the manufacturing sector by domestic government authorities. The presence of key players and the number of waste tire generation each year in the US are projected to fuel the market demand. The MMR report state, around 290 Mn tires are discarded in the US. Over 16 Mn tires are utilized to recover carbon black to produce rubber and produce new tires, whereas approximately 130 Mn tires are used to develop renewable energy.
In terms of volume Europe, held the second-largest market share of xx% in 2019 and is expected to grow at a CAGR of X5% in the forecast period. The high demand from automotive tire and plastic applications due to high-performance coatings, tire production, and energy efficiency that are likely to drive the European market demand at a CAGR of X1.8% in the forecast period. Germany, Italy, France, and Russia are the major contributor to regional market growth. Among these, Germany secured the dominant market share of XX% in 2019 because of the advanced technological operations and large automotive base.
In terms of value and volume, The Asia Pacific is expected to grow at a CAGR of X6.7% and XX% respectively during the forecast period. The market demand is low in the Asia Pacific than in the developed regions due to the lack of technological developments in the recovered carbon black production as per industrial standard. The favourable government policies and the growing demand for sustainable products in the rubber and automotive industries are encouraging companies to invest in the manufacturing sector, which will boost the market growth in the Asia Pacific.
China, India, Japan, Taiwan, and South Korea are the leading contributor to regional market growth. Among these, India is anticipated to hold the highest market share of XX% by 2027 thanks to the increasing awareness of environmental sustainability. e.g., In 2019, Klean Industries is a prominent supplier of recovered carbon black making machinery, has announced to build five plants in India. Furthermore, Klean is enlarging its business in Asian economies owing to the scarcity of the virgin carbon black.
A report covers the recent development in the market for the global recovered black carbon market e.g.,
• Avient Corporation has launched the new product named OnColor RC Environmental Black in 2019. This product was developed from waste tires.
• Scandinavian Enviro Systems AB has partnered with Michelin to develop tire technique in 2019.
The objective of the report is to present a comprehensive analysis of theGlobalRecovered Carbon Black Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Recovered Carbon Black Market dynamics, structure by analysing the market segments and project the Global Recovered Carbon Black Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Recovered Carbon Black Market make the report investor’s guide.
Scope of Recovered Carbon Black Market
Global Recovered Carbon Black market, By Type
• Primary Carbon Black
• Inorganic Ash
Global Recovered Carbon Black market, By Application
• Non-tire Rubber
Global Recovered Carbon Black market, By End-User
• Building & Construction
Global Recovered Carbon Black Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Recovered Carbon Black Market,
• Scandinavian Enviro Systems AB
• Integrated Resource Recovery
• DVA Renewable Energy JSC
• Radhe Group of Energy
• Delta-Energy Group
• Black Bear Carbon
• Alpha Carbone
• Klean Industries
• DRON Industries
• Bolder Industries
• New Entrants
• SR2O Holdings
• Reoil Sp. z o.o.
• Ampacet Corporation
• Carbon Recovery GmbH
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