July 12, 2024

Global Recovered Carbon Black Market Is Estimated To Witness High Growth Owing To the Rising Demand from Various End-use Industries

The global Recovered Carbon Black Market is estimated to be valued at US$ 55 million in 2018 and is expected to exhibit a CAGR of 55.0% over the forecast period of 2018 to 2023, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The Recovered Carbon Black Market involves the production and use of carbon black obtained from end-of-life tires, which are recycled and processed to recover the carbon black component. This recovered carbon black is then used as a sustainable alternative to virgin carbon black in various industries such as rubber, plastics, and coatings.

The market for recovered carbon black has been witnessing significant growth due to the increasing demand for sustainable and eco-friendly products. Recovered carbon black offers similar performance and quality to virgin carbon black, while reducing environmental impact and dependence on non-renewable resources.

B) Market Dynamics:

The recovered carbon black market is driven by two main factors: environmental concerns and cost savings.

One of the key drivers for the market is the growing environmental concerns and regulations regarding the disposal of end-of-life tires. The recycling of tires and the recovery of carbon black help in reducing waste and minimizing environmental pollution. Recovered carbon black also has a lower carbon footprint compared to virgin carbon black, making it a preferred choice for industries aiming to reduce their environmental impact.

Another major driver for the market is the cost savings associated with the use of recovered carbon black. The production of virgin carbon black involves high energy consumption and cost, whereas recovered carbon black is obtained through a recycling process, which is more cost-effective. This cost advantage has led to the adoption of recovered carbon black by various industries, further driving the market growth.

C) SWOT Analysis:

– Strength:

  1. High environmental sustainability
  2. Cost savings for industries

– Weakness:

  1. Limited availability of high-quality recovered carbon black
  2. Limited awareness among end-use industries

– Opportunity:

  1. Increasing government initiatives to promote tire recycling
  2. Growing demand for sustainable products

– Threats:

  1. Competition from virgin carbon black manufacturers
  2. Volatility in raw material prices

D) Key Takeaways:

– The global Recovered Carbon Black Market is expected to witness high growth, exhibiting a CAGR of 55.0% over the forecast period, due to increasing environmental concerns and cost savings associated with the use of recovered carbon black.

– Regional analysis shows that North America is expected to dominate the market, followed by Europe and Asia Pacific. North America has a well-established tire recycling infrastructure and strict environmental regulations, driving the demand for recovered carbon black in the region.

– Key players operating in the global Recovered Carbon Black Market include DVA Renewable Energy JSC, Klean Industries, Delta-Energy Group, Pyrolyx, Black Bear Carbon, Scandinavian Enviro Systems AB, Bolder Industries, Radhe Group of Energy, Alpha Carbone, Integrated Resource Recovery, DRON Industries, Enrestec, and SR2O Holdings. These players are focusing on expanding their production capacities and developing innovative technologies to enhance the quality and performance of recovered carbon black.

In conclusion, the global market for recovered carbon black is poised for significant growth due to the increasing demand for sustainable and eco-friendly products. The market is driven by environmental concerns and cost savings, while facing challenges such as limited availability and awareness. However, with the growing government initiatives and demand for sustainable products, the market is expected to witness robust growth in the coming years.