What is the global market size of Recovered Carbon Black Market?

Recovered Carbon Black Market size was valued at USD 99.20 billion in 2021 and is poised to grow from USD 131.14 billion in 2022 to USD 925.47 billion by 2030, at a CAGR of 32.20% during the forecast period (2023-2030).

Global Recovered Carbon Black Market Size, Share, Growth Analysis, By Application(Plastic, Tires), By Type(Inorganic Ash Content, Conductive) - Industry Forecast 2024-2031

Report ID: SQMIG15A2191 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 65 | Figures: 77

Global Recovered Carbon Black Market Insights

Global Recovered Carbon Black Market size was valued at USD 131.14 billion in 2022 and is poised to grow from USD 173.37 billion in 2023 to USD 1617.40 billion by 2031, growing at a CAGR of 32.20% during the forecast period (2024-2031).

In the world, some 18 million tonnes of tyre trash are produced annually, according to EnviroCB, one of the top producers of recovered carbon black. According to data released by OICA, the rate of growth in these nations' automotive output from 2018 was 69.7%, 2%, 31.1%, and 13.9%, respectively. As a result, it is anticipated that tyre manufacturing and high-performance coatings will dominate European product demand. Due to its improved protective capacity and aesthetic appeal, the market for high performance coatings is predicted to experience rapid increase. In the automobile and aerospace industries, these coatings are becoming more popular because they offer durability. For the past few years, the world's auto industry has experienced significant expansion. According to OICA figures, the world produced 94.97 million units in total, up to 95.63 million units. In light of this, it is projected that increasing automobile production will increase demand for high performance tyres and coatings, which will benefit the market. The expansion of the rubber sector and rising demand for environmentally friendly products are the main factors driving the emergence of the black market for recovered carbon.

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Manufacturers are manufacturing items with various grades and technological breakthroughs while the market is still in its infancy. The major businesses consistently prioritize the creation of new product grades to suit various applications. 'Pyrolyx AG (Germany)', 'Scandinavian Enviro Systems AB (Sweden)', 'Black Bear Carbon BV (Netherlands)', 'Klean Industries Inc. (Canada)', 'Delta-Energy Group, LLC (United States)', 'Bolder Industries (United States)', 'Enrestec Inc. (United States)', 'SR2O Holdings, LLC (United States)', 'Carbon Clean Tech AG (Switzerland)', 'Scandinavian Recycling Solutions AS (Norway)', 'Dron Industries Ltd. (Israel)', 'Black Pellets Denmark ApS (Denmark)', 'SAE Specialty Polymers (United States)', 'Radhe Group of Energy (India)', 'Delta Techniks GmbH (Germany)', 'ERG Materials and Aerospace Corp. (United States)', 'Carbon Recovery GmbH (Germany)', 'Blackwoods Protector (Australia)', 'Dharmapuri Carbon Black Pvt Ltd. (India)', 'ResourceCo Pty Ltd (Australia)', 'Continental Carbon Company (United States)', 'Cabot Corporation (United States)'

The growing popularity of recycled products is one of the key drivers of the global Recovered Carbon Black market. Consumers are becoming more aware of the importance of recycling and the benefits of using recycled products. The use of Recovered Carbon Black in various industries, including plastics, rubber, and construction, is expected to continue to grow as consumers become more conscious of their environmental impact.

One of the major trends in the rCB market is the growing focus on reducing carbon emissions and promoting sustainability. Recovered carbon black is produced from scrap tires and other rubber products, which reduces waste and helps to minimize the environmental impact of these materials. As a result, the use of recovery carbon black is gaining popularity as a sustainable alternative to virgin carbon black.

The fastest-growing segment is the construction materials segment, which is expected to grow at a CAGR of around 19.5% during the forecast period. The dominant segment in Asia-Pacific is the tire application segment, which includes products such as passenger vehicle tires and commercial vehicle tires. The monetary framework that promotes private investments in the manufacturing sector with beneficial government policies is expected to result in significant industrial growth, which will drive industry expansion.

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Global Recovered Carbon Black Market Size, Share, Growth Analysis, By Application(Plastic, Tires), By Type(Inorganic Ash Content, Conductive) - Industry Forecast 2024-2031

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