Asia Pacific Recovered Carbon Black Market Outlook and Strategic Insights by 2028

The recovered carbon black market in APAC is expected to grow from US$ 1,231.52 million in 2021 to US$ 2,756.97 million by 2028; it is estimated to grow at a CAGR of 12.2% from 2021 to 2028.

Australia, China, India, Japan, and South Korea are major economies in APAC. The green economy is another vision of growth and development for many countries; it can promote economic development and improve people's lives while promoting environmental and social well-being. An important part of the green economy strategy is to promote the development and adoption of sustainable technologies. The importance of sustainability is not just based on an ecological perspective, but economic aspects also contribute to it. Recovered carbon black is emerging as an alternative to virgin carbon black that is produced from the combustion of crude oil. The carbon black recovered from recycled tires contributes to a significant decrease in CO2 emissions and emphasizes the concept of reusing products to minimize waste generation. Companies are heading towards the adoption of an eco-friendly and sustainable production approach by investing in better R&D activities to optimize resource consumption. Therefore, such shift towards sustainability, along with rise in need for green alternatives, is emerging as a lucrative opportunity for the recovered carbon black market players.

The COVID-19 is anticipated to cause a significant economic loss in the Asia-Pacific. The consequence and impact can be even worse and totally depends on the spread of the virus. The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand and other Asian economies have prolonged the effect of pandemic upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia-Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and few other Asian countries, has altered the status of the industry. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the virus by announcing countrywide lockdowns, which have a direct impact upon the growth of industrial sectors. This may impact the demand for recovered carbon black. However, the market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities as well as cater to soaring demand in post-pandemic times.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the recovered carbon black market. The APAC recovered carbon black market is expected to grow at a good CAGR during the forecast period.

 

APAC Recovered Carbon Black Market Segmentation

APAC Recovered Carbon Black Market – By Application

• Tire
• Non-Tire Rubber
• Plastics
• Others

APAC Recovered Carbon Black Market- By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

APAC Recovered Carbon Black Market-Companies Mentioned

• Bolder Industries
• ENRESTEC
• Pyrolyx AG
• Radhe Group Of Energy
• Scandinavian Enviro Systems AB
• SR2O Holdings, LLC

Asia Pacific Recovered Carbon Black Report Scope