Carbon Black Market 2023- 2030 Global Insights by Industry Volume, Opportunities, Type, New Technology
Carbon Black Market Overview
The recovered carbon black market is projected to grow by US$483 Million by 2023 rapidly at a high CAGR throughout the forecast period. The growing automotive and transportation industry, as well as a wide range of applications, drive the global recovered carbon black market. The carbon black market is a global industry that involves the production and sale of carbon black, a fine black powder produced by the incomplete combustion of petroleum products or natural gas. Carbon black is primarily used as a reinforcing filler in rubber products, such as tires, hoses, and belts, but it is also used as a pigment in inks, coatings, and plastics.
The carbon black market is driven by several factors, including the growth of the automotive industry, the increasing demand for high-performance tires, and the growth of the construction industry. In addition, the use of carbon black in the production of plastics and printing inks is also driving demand.
Market Segmentation
The Carbon Black Market has been segmented based on application and regions. On the basis of application, the market for recovered carbon black is segmented based on inks, coatings, non-tire rubber, plastics, and tires.
Factors like stringent government regulations and an increasing number of unused tires propel the recovered carbon black market growth. The recovered carbon black market performance has also been studied. The recovered carbon black market report provides an analysis of past and current trends. In addition to this, the recovered carbon black market report offers a detailed analysis of application and regions segments.
Regional Overview
The recovered carbon black market report covers companies functional in the recovered carbon black market spread across regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The regional analysis of the recovered carbon black market can be found in the market research report. The North American recovered carbon black market has several key players functioning in the United States, Canada, and Mexico. Europe has companies in the recovered carbon black market across Germany, France, Spain, Italy, and the United Kingdom. The recovered carbon black market of the Middle East, Africa, and other regions has also been studied by analysts. A detailed analysis of the recovered carbon black market across India, China, and Japan in the Asia-Pacific region is also available for further study.
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Industry News
Multinational tire maker Michelin has announced that it has collaborated with Enviro to develop technologies to convert recycled tires into raw materials. Although both parties do have to sign a signed agreement, land work has already begun. The collaboration aims to introduce pyrolysis technology from Enviro in order to turn old tires into raw resources. During the pyrolysis process, Enviro established this innovation to alter the chemical and physical formulations of pneumatic materials, therefore, maintaining reduced power consumption.
Competitive Landscape
The recovered carbon black market is corroborated by the growing demand for environment-friendly fillers. The population growth as well as increasing demand of recovered carbon black market-based solutions also accelerate the market growth. However, the recovered carbon black market can be affected due to the demand-supply gap as well as slow production. The recovered carbon black Emerging Competitive Analysis Report research report covers all such factors assisting companies in the recovered carbon black market to improve their plans and portfolio. The recovered carbon black market research report also provides company profiles of major businesses.
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