The recovered carbon black market is projected to reach US$ 8,760.62 million by 2028 from US$ 4,037.76 million in 2021; it is expected to grow at a CAGR of 11.7% from 2021 to 2028.
The recovered carbon black is a material, which is primarily obtained from the pyrolysis of waste tires during recycling and is eco-friendly in nature. Recovered carbon black offers environmental and economic benefits by using unused tires and recycling them. Recovered carbon black is extensively used as a reinforcing agent in the manufacture of various non-tire rubber products. These products include hoses, conveyor belts, gaskets, rubber sheets, seals, geomembranes, and rubber roofing. Besides, it finds applications in coatings, plastic masterbatches, inks, and others. The recovered carbon black market is full of opportunities due to the increasing need for green alternatives in lessening carbon footprint.
Asia Pacific is anticipated to hold the largest share of the market during the forecast period. Asia Pacific comprises Australia, China, India, Japan, South Korea, and other Asian countries. Countries such as India and China generate huge numbers of waste tires annually, which is a key factor supporting the growth of the recovered carbon black market in the region. Asia Pacific is characterized by high vehicle production, coupled with strong tire demands. The governments of China and India, among others, are focusing on encouraging the sales of electric vehicles. Moreover, growing demand for non-tire rubber products is expected to propel the recovered carbon black market growth in the region.
The ongoing pandemic has drastically altered the status of the industrial sector and has negatively impacted the growth of the recovered carbon black market. The implementation of measures to combat the spread of the virus has aggravated the situation and has impacted the growth of several industrial sectors. Industries such as automotive, industrial, oil gas, chemical, aerospace have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. For instance, an article published by ACEA highlighted the severity of impact of COVID-19 upon the automotive sector. The production and sales of motor vehicles suffered a sudden halt in operation, with sales of car registering a drop by 25% in Europe. This has direct correlation with the demand for recovered carbon black market. Moreover, the recovered carbon black market is still in the nascent stage, with manufacturers developing products with different grades and technological advancements.
Further, the pandemic created a disruption in orders and deliveries along with cancellations and a backlog of orders. The significant decline in the growth of several industrial sectors significantly impacted the demand for recovered carbon black in the global market. The significant disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of the manufacturing base due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during the pandemic period. Nevertheless, as the economies are planning to revive their operations, the demand for recovered carbon black is expected to rise globally. The expanding demand for recovered carbon black for various applications such as tire, non-tire rubber, plastics, coatings, and inks application, along with significant investments by prominent manufacturers is, expected to drive the growth for recovered carbon black.
Geographic Overview of Recovered Carbon Black Market
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Market Insights
Ecological Advantages of Recovered Carbon Black
Producing recovered carbon black from waste generated by rubber goods, specifically tires is an ecologically beneficial process. Moreover, the outcome is also finer than virgin carbon black, allowing for better cuts in the finished product. To produce 1 kg of virgin carbon black, ~1.5–2 kg of crude oil is required.Recovering carbon black also entails reusing valuable raw materials, propelling one higher up the recycling hierarchy. Thus, replacing virgin carbon black, produced out of traditional furnace processes, with recovered carbon black considerably reduces carbon footprint. The use of recovered Carbon Black (rCB) alone can reduce the size of the carbon footprint by 80%, which is why many large tire manufacturers are trying to use significantly more recovered carbon black. For instance, in October 2018, Pyrolyx USA began constructing a plant in Terre Haute, Indiana, USA. It is expected to be fully completed in May 2019 and will start production in June 2019. The plant will have the capacity to process 40,000 tons of used tires per year and produce about 13 kilotons of recycled carbon black and 17.5 kilotons of pyrolysis oil, and 6.2 thousand tons of steel. Thus, the cost and environmental advantages associated with recovered carbon black are propelling the market growth.
Application Insights
Based on application, the global recovered carbon black market is divided into tire, non-tire rubber, plastics, and others. The tire segment is anticipated to hold the largest share of the market during the forecast period. Recovered carbon black is one of the immediate products of the pyrolysis process and is usually added to rubber as both a filler and as a strengthening/reinforcing agent. For numerous types of tires, it is used in inner liners, sidewalls, carcasses, and treads, utilizing various types based on specific performance requirements. The recovered carbon black market is predicted to rise swiftly, as it is replacing traditional carbon black in manufacturing tires. Also, recovered carbon black, produced from waste generated by tires, contributes an economic advantage. Besides, the usage of recovered carbon black instead of virgin carbon black lessens carbon footprint by approximately 80%. Most of the major tire manufacturers are predicted to use a substantial amount of recovered carbon black in the coming years. These factors are anticipated to bolster the tire segment during the forecast period.
Global Recovered Carbon Black Market, by Application – 2020 and 2028
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Recovered Carbon Black Market: Strategic Insights
Market Size Value in US$ 4,037.76 million in 2021 Market Size Value by US$ 8,760.62 million by 2028 Growth rate CAGR of 11.7% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Recovered Carbon Black Market: Strategic Insights
| Market Size Value in | US$ 4,037.76 million in 2021 |
| Market Size Value by | US$ 8,760.62 million by 2028 |
| Growth rate | CAGR of 11.7% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Black Bear Carbon B.V.; Bolder Industries; ENRESTEC; Klean Carbon; Radhe Group Of Energy; Scandinavian Enviro Systems AB; SR2O Holdings, LLC; Delta Energy LLC; Pyrolyx AG; and Alpha Carbone are a few well-established players operating in the global recovered carbon black market. These companies offer their products worldwide, which help them in catering to a wider customer base. The major market players are highly focused on the development of high-quality and innovative products to meet the customer’s requirements. Over the past a few years, the companies operating in the market have realized the immense potential pertaining to the recovered carbon black market, and they are adopting strategies such as mergers & acquisitions and product launches. For example, in 2019, Pyrolyx AG and its Pyrolyx USA subsidiary signed an agreement to purchase the assets of Newport, Indiana-based J&R Recycling for US$ 4.5 million.
Report Spotlights
- Progressive industry trends in the global recovered carbon black market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global recovered carbon black market from 2019 to 2028
- Estimation of the demand for recovered carbon black across various industries
- Recent developments to understand the competitive market scenario and the demand for recovered carbon black
- Market trends and outlook coupled with factors driving and restraining the growth of the recovered carbon black market
- Decision-making process by understanding strategies that underpin commercial interest with regard to the global recovered carbon black market growth
- Recovered carbon black market size at various nodes of the market
- Detailed overview and segmentation of the global recovered carbon black market as well as its dynamics in the industry
- Recovered carbon black market size in various regions with promising growth opportunities
Based on application, the global recovered carbon black market is segmented into tire, non-tire rubber, plastics, and others. By geography, the recovered carbon black market is segmented into five main regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Company Profiles
- Black Bear Carbon B.V.
- Bolder Industries
- ENRESTEC
- Klean Carbon
- Radhe Group Of Energy
- Scandinavian Enviro Systems AB
- SR2O Holdings, LLC
- Delta Energy LLC
- Pyrolyx AG
- Alpha Carbone
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global recovered carbon black market are Black Bear Carbon B.V.; Bolder Industries; ENRESTEC; Klean Carbon; Radhe Group Of Energy; Scandinavian Enviro Systems AB; SR2O Holdings, LLC; Delta Energy LLC; Pyrolyx AG; and Alpha Carbone among many others.
Recovered carbon black is obtained through the pyrolysis of end-of-life tires (ELTs) and can be used in place of the virgin carbon black. They provide an alternate and sustainable option to the use of virgin carbon black in tires and other applications. The market is in a nascent stage and the report addresses the potential demand and opportunity in the recovered carbon black market and its applications.
Based, on application, the recovered carbon black market is segmented into tire, non-tire rubber, plastics, and others.
Tire segment is the largest consumer of virgin carbon black. With the increasing demand for vehicles, tire demand is also projected to grow significantly in the coming years. With the growing demand for sustainable solutions and the incorporation of recycled raw materials in the tire manufacturing sector, tires is expected to be a major application area for recovered carbon black.
Asia Pacific region accounts for a significant share of the global population and the rising disposable incomes and urbanization have contributed to a significant growth of automobile demand. Moreover, the region has a low rate of tire recycling in comparison with North America and Europe and holds huge potential with the amount of waste tires being generated each year. Such factors have propelled the demand for recovered carbon black in Asia Pacific.
Europe is expected to hold the highest share in the global recovered carbon black demand. High rate of recycling and regulations on the use of virgin carbon black are expected to aid the growth of the recovered carbon black market in the region.
Recovered carbon black is expected to witness tremendous growth in the coming years. Increasing demand for sustainable materials and recycling will propel the demand for virgin carbon black. With the rising concerns pertaining to climate change, global manufacturers are under pressure to amend their operations in order to reduce the emissions and be carbon neutral. Such factors will increase the demand for recovered carbon black.
The List of Companies - Recovered Carbon Black Market
- Black Bear Carbon B.V.
- Bolder Industries
- ENRESTEC
- Klean Carbon
- Radhe Group Of Energy
- Scandinavian Enviro Systems AB
- SR2O Holdings, LLC
- Delta Energy LLC
- Pyrolyx AG
- Alpha Carbone
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