Recovered Carbon Black Market Trend, Share, Growth, Size and Forecast 2028

Recovered Carbon Black Industry Perspective:

The global recovered carbon black market size was worth around USD 98.30 million in 2021 and is estimated to grow to about USD 508.29 million by 2028, with a compound annual growth rate (CAGR) of approximately 31.50% over the forecast period. The report analyzes the recovered carbon black market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the recovered carbon black market.

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Recovered Carbon Black Market: Overview

Recovered carbon black is an environmentally friendly material that is primarily made from the pyrolysis of used tires during recycling. Utilizing and recycling used tires and recovered carbon black benefits both the environment and the economy. Recovered carbon black is widely employed as a reinforcing agent in the production of numerous rubber goods other than tires. Hoses, conveyor belts, gaskets, rubber sheets, seals, geomembranes, and rubber roofs are some of these goods. Additionally, it has uses in coatings, plastic masterbatches, inks, and other things. Due to the growing demand for environmentally friendly options to reduce carbon footprint, the recovered carbon black market is rife with prospects. The market is widely used as a cost-effective and environmentally friendly supporting filler in both the non-tire and tire sectors. The constantly expanding auto and transportation sectors are what is driving the global market for recovered carbon black. Additionally, its application in the manufacture of elastic items is increasing demand from both customers and investors.

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COVID-19 Impact:

The market for recovered carbon black (rCB) was negatively impacted by the recent coronavirus outbreak. The implementation of measures to stop the virus's spread has made the problem worse and hampered the expansion of several industrial sectors. The unforeseen reduction in operational efficiency and value chain disruptions brought on by the abrupt closure of domestic and international borders have had an impact on the automotive, industrial, oil, gas, chemical, and aerospace industries. For instance, the gravity of COVID-19's influence on the automotive industry was emphasized in an article published by ACEA. Automobile production and sales abruptly stopped, with a 25% decline in car sales in Europe. The market suffered a severe financial setback as a result.

Key Insights

• As per the analysis shared by our research analyst, the global recovered carbon black market value is to grow at a CAGR of 31.50% over the forecast period. 
• In terms of revenue, the global recovered carbon black market size was valued at around USD 98.30 million in 2021 and is projected to reach USD 502.29 million by 2028. 
• The expansion of the global recovered carbon black market will be fueled by the expansion of the transportation and automotive industry. Additionally, strict government regulations due to the use of the product in various end-use industries and low as well as the fixed price of recovered carbon black (rCB) across the globe are the major factors driving the growth of the market.
• By application, the tire category dominated the market in 2021.
• North America dominated the global recovered carbon black market in 2021.

Recovered Carbon Black Market: Growth Drivers

High demand across end users to spur the market expansion in coming period

Recovered carbon black (rCB) is increasingly being used in a variety of end-use industries, including transportation, industrial, printing and packaging, building and construction, and others, which is expected to fuel the global recovered carbon black market expansion. Recovered carbon black is frequently used as a reinforcing agent in the non-tire rubber industry to manufacture hoses, conveyor belts, seals, gaskets, geo-membranes, rubber sheets, and rubber roofing.

The market for recovered carbon black will experience a considerable increase as a result of the expansion of the rubber sector. The abundance of recyclable tires will also contribute to the market's value expansion. The market is expected to develop as a result of the automotive industry's expansion.

Recovered Carbon Black Market: Restraints

High prices of recovered carbon black to restrict market growth

Because manufacturers are unable to enter the market, industry growth is constrained by the high costs of R&D and capital required to produce recovered carbon black (rCB) at economically viable production levels.

Growing interest in virgin carbon black to hamper market expansion

One major limitation that is adversely influencing the market is the rising demand for virgin carbon black. This is a result of the automotive industry's growing need for high-quality tires, which raises the price of virgin carbon black. The market growth rate for recovered carbon black (rCB) is anticipated to be hampered by this reason.

Recovered Carbon Black Market: Opportunities

A surge in the need for eco-friendly products and research & development to offer growth avenues

The need for eco-friendly alternatives and lowering carbon footprints present lucrative prospects to market participants during the projection period. The global recovered carbon black market will grow as a result of continuing research and development by manufacturers.

Recovered Carbon Black Market: Challenges

Concerted efforts needed to boost the industry's potential to pose challenge to market growth

To boost the industry's use of recovered carbon black and speed the expansion of the rCB sector, all stakeholders must work together. Regulations and research are crucial to the rCB sector. The latter is required so that pyrolysis operators may produce a product that is more uniform and stable, whilst the former would encourage the integration of the industry in the circular economy.

Recovered Carbon Black Market: Segmentation

The global recovered carbon black market is segregated on the basis of grade, end-user, type, application, and region.

The market is split into tire and non-tire rubber, plastics, inks, coatings, and others based on application. It is anticipated that the tire sector will account for the biggest market share during the projected period. One of the early byproducts of the pyrolysis process is recovered carbon black, which is typically added to rubber as a filler and as a strengthening/reinforcing agent. It is utilized in inner liners, sidewalls, carcasses, and treads for a variety of tire types, with different varieties depending on the performance needs.

Primary carbon black and inorganic ash are separated by type. Grades are divided into commodity and specialty categories. The market is divided into transportation, industrial, printing & packaging, building & construction, and other categories depending on the end-user.

Recent Developments

• A cleantech business called Ecolomondo Corporation will start building and running turnkey Thermal Decomposition Process (TDP) offices in January 2022. The company also has ambitions to construct and run a six-reactor TDP plant in the US. This will be the company's first waste-to-assets TDP office in the United States. It will be able to handle and reuse used tires and turn them into assets that can be utilized again. 
• A co-marketing agreement to market ground-breaking, sustainable products for the global rubber and plastics industry was announced today by Bolder Industries ("Bolder"), a pioneer in turning end-of-life tires into sustainable industrial products, and Continental Carbon Company ("CCC"), a pioneer in the development and production of furnace-grade carbon blacks for the tire and rubber industry.
• A Memorandum of Understanding (MoU) was signed by Scandinavian Enviro Systems AB (Sweden) with tire recycling company EE-TDF Cleveland (US) in December 2018. In accordance with the conditions of the agreement, the businesses will construct a recycling facility at the current location of EE-TDF Cleveland in Texas, US, that can recycle around 30 kilotons of tires annually. Enviro will be able to increase its market share in the US thanks to this agreement.

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Recovered Carbon Black Market: Regional Landscape

North America dominated the recovered carbon black market in 2021

With a 38.0 percent market share, North America dominated the global recovered carbon black market. The region has emerged as the material's primary consumer as a result of growing production and consumption of recovered carbon black in countries including the US, Canada, and Mexico. The concerns surrounding the disposal of end-of-life tires and the rising demand for environmentally friendly products from these countries' tire, rubber, and automotive industries are expected to propel the market for recovered carbon black during the research period. As a result of the region's businesses adopting waste management programs for recycling and reusing waste goods, the region's manufacturing sector is expanding.

After North America, Europe is the region that uses recovered carbon black the most. The European market demand is anticipated to be driven by the high demand from the tire sector. Throughout the projected period, market growth is anticipated to be boosted by recovering the automotive industries in Austria, France, Romania, and Russia.

After Europe and North America, the Asia Pacific region had the third-largest market for recovered carbon black. Due to the absence of technological developments in the manufacturing of recovered carbon black, the penetration in the region is lower than in industrialized areas. High industrial growth is anticipated as a result of the monetary framework and supportive government policies that promote private investment in the manufacturing sector.

The Covid-19 pandemic, particularly in China and India, is expected to cause havoc in the Asian industrial sector and economy in the latter half of 2020. The pandemic is anticipated to slow down all of the manufacturing, including the automotive industry, which will have a detrimental effect on the demand for recovered carbon black. In 2021, it was expected that the industrial sector would revive, which would help the recovering carbon black market.

  Recovered Carbon Black Market: Competitive Landscape

Key players functioning in the global recovered carbon black market include -

• Bolder Industries Corporate
• Black Bear Carbon B.V.
• Wild Bear Carbon B.V.
• Greetings Green Carbon
• Tyrepress
• Klean Industries
• Radhe Group of Energy
• Scandinavian Enviro Systems AB
• DVA Renewable Energy JSC.
• Pyrolyx AG
• Enrestec Inc.
• Delta-E.

The global Recovered Carbon Black Market is segmented as follows:

By Type

• Primary Carbon Black
• Inorganic Ash

By Grade

• Commodity
• Specialty

By Application

• Tire
• Non-Tire Rubber
• Plastics
• Inks
• Coatings
• Others

By End-User

• Transportation
• Industrial
• Printing and Packaging
• Building and Construction
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa