Market forecast for recovered carbon black to 2028
The recovered carbon black market is expected to reach US $ 8,760. 62 million by 2028 from US $ 4,037. 76 million in 2021; it is expected to grow at a CAGR of 11.7% from 2021 to 2028. Recovered carbon black is a material which is mainly obtained from the pyrolysis of used tires during recycling and which is environmentally friendly in nature.
New York, October 21, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Recovered Carbon Black Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Application” – https://www.reportlinker.com/p06176799/?utm_source=GNW
Recovered carbon black provides environmental and economic benefits by using unused tires and recycling them.
Recovered carbon black is widely used as a reinforcing agent in the manufacture of various rubber products other than tires. These products include pipes, conveyor belts, gaskets, rubber sheets, gaskets, geomembranes and rubber roofing.
In addition, it finds applications in coatings, plastic masterbatches, inks and others. The reclaimed carbon black market is full of opportunities due to the growing need for green alternatives to reduce the carbon footprint.
On the basis of applications, the global reclaimed carbon black market is segmented into tires, non-tire rubber, plastics and others. The non-tire rubber segment accounted for the highest CAGR during the forecast period.
The recovered carbon black is used as a reinforcing agent in the production of various rubber products other than tires. These products include pipes, conveyor belts, gaskets, geomembranes, rubber sheets and rubber roofing.
In addition, it provides abrasion resistance and elasticity. The recovered carbon black has a low ash content and therefore increases the strength of mechanical rubber products.
In addition, the growth in the application of non-tire rubber is associated with the boom in the rubber industry and the growing need for environmentally friendly products.
Geographically, the recovered carbon black market is segmented into North America, Europe, Asia-Pacific (APAC), South America (SAM) and Middle East and Africa (MEA). Europe is expected to register the fastest market CAGR during the forecast. period.
The main European economies are Germany, France, Italy, UK and Russia. The region holds significant growth opportunities for players in the recovered carbon black market, due to the large amount of tire waste generated each year.
In addition, a large import of new carbon black is due to the region’s strict environmental and safety regulations, which make the production of new carbon black more expensive in the region. In addition, the European tire industry requires increasingly high volumes of carbon black.
In Europe, various companies, governments, cities and academic institutions are increasingly engaging in collaborations and innovations supporting the circular economy approach. Various projects in the region offer the possibility of advancing the recovered carbon black market in Europe.
The ongoing pandemic has radically altered the status of the industrial sector and has had a negative impact on the growth of the recovered carbon black market. The implementation of measures to combat the spread of the virus worsened the situation and had an impact on the growth of several industrial sectors.
Industries such as automotive, industrial, oil and gas, chemicals, aerospace have been affected by the sudden distortion of operational efficiency and disruptions in value chains attributable to the sudden shutdown of companies. national and international borders. For example, an article published by ACEA highlighted the severity of the impact of COVID-19 on the automotive sector.
Production and sales of motor vehicles came to a screeching halt, with car sales dropping 25% in Europe. This is directly correlated with the demand for recovered carbon black.
In addition, the reclaimed carbon black market is still in its infancy, with manufacturers developing products with different qualities and technological advancements.
In addition, the pandemic has created a disruption of orders and deliveries as well as cancellations and a backlog of orders. The significant decline in the growth of several industrial sectors has had a significant impact on the demand for recovered carbon black on the world market.
Significant disruptions in terms of raw material supply from suppliers as well as temporary shutdowns of the manufacturing base due to indefinite lockdowns and temporary quarantines impacted the growth of the market during the pandemic period. However, as economies plan to restart operations, demand for recovered carbon black is expected to increase globally.
Growing demand for recovered carbon black for various applications such as tires, non-pneumatic rubber, plastics, coatings and ink application, along with significant investments from leading manufacturers are expected to drive the growth of black. of recovered carbon.
Black Bear Carbon BV; Bolder industries; ENRESTEC; pure carbon; Radhe Energy Group; Scandinavian Enviro Systems AB; SR2O Holdings, LLC; Delta Energy LLC; Pyrolyx SA; and Alpha Carbone are among the well-established players operating in the global recovered carbon black market.
The overall global market size for recovered carbon black has been calculated based on primary and secondary sources. To begin the research process, a comprehensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
In addition, several primary interviews were conducted with participants and industry commentators to validate the data, as well as to gain more analytical information on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as business development experts. valuation, research analysts and key opinion leaders specializing in the global recovered carbon black market. .
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