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“Increasing use of recovered carbon black in various applications to drive the recovered carbon black market.”
The recovered carbon black market size is estimated at USD 55 million in 2018 and is projected to reach USD 491 million by 2023, at a CAGR of 55.0% between 2018 and 2023. The recovered carbon black market is driven by various factors, such as increasing use of recovered carbon black in various applications, such as tires, non-tire rubber, plastics, coatings, and inks; abundant availability of end-of-life tires; and low and fixed cost of recovered carbon black.
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“Tire application to witness the highest CAGR in overall recovered carbon black market during the forecast period.”
The market in the tire application is projected to witness the highest growth during the forecast period. The growing automotive industry and rising need for environmentally-friendly and sustainable products in this industry are expected to increase the demand for green tires across the globe. This is expected to drive the consumption of recovered carbon black for the production of green tires in the automobile industry. Non-tire rubber application is the second-fastest growing application in the overall recovered carbon black.
“North America estimated to account for largest share of recovered carbon black market during the forecast period.”
North America is estimated to account for the largest share of the recovered carbon black market in 2018, with the US estimated to be the biggest market in North America. Canada and Mexico are the other major countries contributing to the growth of the recovered carbon black market in this region. The increasing demand for environmentally-friendly products from applications such as tire, non-tire rubber, plastics, and coatings is expected to drive the recovered carbon black market in these countries. Europe is the second-largest market for recovered carbon black.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below:
- By Company Type - Tier 1 – 70%, Tier 2 – 20%, and Tier 3 – 10%
- By Designation - Director level – 30%, C level – 21%, and Others – 49%
- By Region - North America – 35%, Europe – 30%, APAC – 25%, and Rest of World – 10%.
The key players in the recovered carbon black market are Pyrolyx (Germany), Delta-Energy Group (US), Black Bear Carbon (Netherlands), Scandinavian Enviro Systems AB (Sweden), Klean Industries (Canada), Radhe Group of Energy (India), Alpha Carbone (France), Bolder Industries (US), DRON Industries (Slovakia), DVA Renewable Energy JSC (Vietnam), Enrestec (Taiwan), Integrated Resource Recovery (US), and SR2O Holdings (US). The new entrants to the market include Eneform (New Zealand), Doublestar Group (China), and Carbon Recovery GmBh (Austria).
- This research report categorizes the global recovered carbon black market on the basis of application and region.
- The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities.
- It also includes detailed analysis of the key market players which provides insights into business overviews, products, key strategies, and recent developments associated with the market.
Reasons To Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global recovered carbon black market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across different verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business.
- The competitive landscape section includes expansions, agreements, joint ventures, and research & development activities.