Recovered Carbon Black Market 2023 Strategic Collaborations and Mergers to Foster Growth in 2030
Recovered Carbon Black Market
Recovered carbon black is obtained from scrap tires through the process of pyrolysis. The recovered carbon black is a shade less pure than virgin carbon black but still fits as a suitable filler for rubber and plastic applications in a number of industries. It contains 10–20% carbonaceous material, along with impurities such as steel, zinc compounds, silica, and other trace elements. The growing demand for finding viable options to make use of recycled tire rubber is likely to be a major driver for the Recovered Carbon Black Market over the forecast period. As tire rubber is not biodegradable, efforts to find ways to make it ecologically sustainable through recycling and reuse are being developed all the time in the automotive industry, which has realized its burden with regard to lessening environmental pollution and has started to come up with ways to minimize its impact on the environment.
The growing automotive industry and the growing demand for recycled content in rubber automotive tires is likely to be the major driver for the global recovered carbon black market over the forecast period. The automotive industry needs carbon black in increasing amounts as the demand for tires has exploded in recent years due to the steady increase in vehicular production. Due to this growing demand, ways to incorporate recycling processes into the manufacturing of new vehicular tires are being developed in the automotive industry. This is likely to remain the major driver for the recovered carbon black market, as vehicular production is likely to steadily grow over the coming years.
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Competitive Analysis:
Leading players in the global recovered carbon black market include SR2O Holdings LLC, Integrated Resource Recovery Inc., Enrestec Inc., DVA Renewable Energy JSC, Alpha Carbone, Delta-Energy Group LLC, Scandinavian Enviro Systems AB, Black Bear Carbon B.V., Pyrolyx AG, and Hi Green Carbon.
Major players in the global recovered carbon black market are likely to focus on developing sales infrastructure within the automotive and plastics industries in the coming years in order to maximize their revenue generation potential. Companies with a solid network of buyers in these two industries are likely to dominate the recovered carbon black market over the forecast period.
In March 2019, ASTM International approved the first standard for recovered carbon black. Steps like this are likely to be vital for the recovered carbon black market.
Segmentation:
The global recovered carbon black market is segmented on the basis of application and region.
By application, the global recovered carbon black market is segmented into tires, non-tire rubber products, plastics, coatings, and inks. The tires segment holds the major share in the global recovered carbon black market, followed by non-tire rubber and plastics. The plastics industry is likely to become increasingly important for the Recovered Carbon Black Market Supply and Demand Trends over the forecast period due to the increasing prospects of the industry in emerging regions such as Asia Pacific. The coatings industry could also play a key role in the global recovered carbon black market’s growth over the forecast period.
Regional Analysis:
North America is the largest regional market for the recovered carbon black industry, while Asia Pacific is likely to exhibit the highest growth rate over the forecast period. The increasing presence of environmental standards in North America for the disposal of nonbiodegradable objects such as car tires is likely to be a major driver for the recovered carbon black market in the region. The growing automotive and plastics industries in Asia Pacific are expected to be a major driver for the recovered carbon black market in the region.
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