The trends in the recovered carbon black (rCB) industry have been marked by significant developments indicative of a fluid landscape that has its foundation in environmental concerns and sustainability efforts. This development in rCB supplies is due to end-of-life tire recycling in order to generate recycled carbon black. One such trend is the circular economy approach, which emphasizes reusing materials so as to minimize environmental pollution resulting from their disposal. Consequently, the recovered carbon underground market has been increasing its presence in different industries like the automotive sector by bypassing the strict unofficial regulations associated with such kinds of products for end-use sectors, including transportation means, the rubber industry, and car manufacturing.
Moreover, enhanced characteristics such as reduced CO2 emissions levels through less dust content and higher strength are also leading to increased popularity for this item, making it possible for global recovered carbon underground market players to reap more benefits from this growing demand. Another notable development in the rCB market has been observed among various consumers globally, which include automakers who use them in car construction or other industries having similar needs. As they integrate green materials into their products, these two sectors demand high amounts of rCB; thus, the push towards eco-friendly materials led by upcoming brands such as Tesla, etc. regulatory initiatives, and sustainability practices underpin the rationale for recovered carbon black regulations. Governments and environmental organizations globally are enacting strict laws to cut down on carbon release and promote the recycling of end-of-life tires. Therefore, more money is being pumped into research to increase the productivity of rCB in terms of quality and quantity of output, which in turn is leading to innovations within this industry.
There are also strategic alliances and collaborations among players in the rCB industry. Companies seek partnerships with each other so as to gain from their synergies, optimize supply chains, or develop innovative products together. In addition, marketing trends are also influenced by customers' awareness about how they can conserve resources and influence manufacturers' choices on material usage. As the number of eco-conscious consumers grows, there is a demand for environmentally friendly goods that imply a commitment to maintainable sources. Cost efficiency is another driver of trends in the rCB market since industrialists have realized that it is cheaper to use recycled carbon black than virgin CB while retaining its quality.
Report Attribute/Metric | Details |
---|---|
Market Opportunities | · The stringent government regulations to use the product in various end-use industries like transportation, rubber, and automotive |
Market Dynamics | · the increasing automotive and transportation industry in the upcoming years |
Recovered Carbon Black Market Size was valued at USD 1.5 Billion in 2023. The Recovered Carbon Black industry is projected to grow from USD 1.7 Billion in 2024 to USD 4.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.20% during the forecast period (2024 - 2032). The worldwide Recovered Carbon Black Market is setting out worthwhile open doors for the worldwide central members because of the rigid unofficial laws to involve the item in different end-use businesses like transportation, elastic, and car are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Recovered carbon black is a sustainable alternative to virgin carbon black, which is produced from petroleum products. As more companies and industries are seeking to reduce their environmental footprint and adopt sustainable practices, the demand for rCB has increased. In addition to the automotive and transportation industries, other industries such as construction, packaging, and rubber are also major consumers of rCB. The use of rCB in these industries can improve product performance, reduce costs, and contribute to a more sustainable supply chain.
Moreover, the rCB market is also being driven by government regulations and initiatives aimed at reducing carbon emissions and promoting sustainable practices. For instance, various countries have set targets for reducing greenhouse gas emissions, and the use of rCB can contribute to achieving these targets. Therefore, such factors related to Recovered Carbon Black have enhanced the Recovered Carbon Black market CAGR across the globe in recent years.
February 2024
Life for Tyres Group Limited, Europe's leading end-of-life tire recycling firm with sustainable commodity production facilities, will spend $46 million to build its first U.S. processing plant on 10 acres at the Port of South Louisiana.
L4T Louisiana LLC will recycle and manufacture end-of-life tires into high-quality biofuel feedstock, recovered carbon black, and scrap steel. L4T predicts 46 direct St. John the Baptist Parish employment. Louisiana Economic Development expects 151 indirect new employment and 197 Southeast Region jobs from the project.
The new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana. In addition to the great effect this foreign investment will have on the state and local economy, L4T will provide Louisiana-based oil and gas and petroleum chemical firms with high-quality sustainable commodities to help them meet their carbon management objectives.
Life for Tyres Group's proprietary technique produces high-quality secondary raw materials such recovered carbon black, green oil, and steel for industrial application. Compared to normal tire recycling, the business claims their method decreases greenhouse gas emissions by 90%.
The Recovered Carbon Black Market segmentation, based on application, includes Tires, Non-Tire Rubber, Coatings, Plastics, and Inks. The tire segment held the majority share in 2022 of the Recovered Carbon Black Market revenue. The tire segment is one of the primary applications of rCB, and it has traditionally been the largest segment of the rCB market. The tire industry is a major consumer of rCB due to its cost-effectiveness, performance, and sustainability benefits. Additionally, the use of rCB in tire manufacturing can help to reduce the carbon footprint of the tire industry, which is increasingly important for companies that seek to improve their environmental impact.
Figure 2: Recovered Carbon Black Market, by Application, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region was the largest market for recovered carbon black, and it is expected to continue to be the largest market in the coming years. This is due to the significant growth in the automotive and transportation industries in the region, which are major consumers of rCB. In addition, the region has a large population and a growing middle class, which is driving demand for tires and other rubber products, further contributing to the growth of the rCB market.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: RECOVERED CARBON BLACK MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Recovered Carbon Black market accounts for the third-largest market share. The European Union has set ambitious targets for reducing greenhouse gas emissions, and the use of rCB can contribute to achieving these targets. Additionally, the region has a well-established automotive industry, which is a major consumer of rCB, along with other industries such as packaging, construction, and rubber. Further, the Germany Recovered Carbon Black market held the largest market share, and the UK Recovered Carbon Black market was the fastest-growing market in the European region.
North America, Recovered Carbon Black market, is expected to be the largest from 2023 to 2030. North America is a significant market for rCB, and it is expected to grow in the coming years, driven by the increasing demand for sustainable and cost-effective alternatives to traditional materials. The region has a well-established automotive industry and a growing focus on sustainability, which is driving the adoption of rCB. However, it is not the largest market for rCB. Moreover, the U.S. Recovered Carbon Black market held the largest market share, and the Canada Recovered Carbon Black market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Recovered Carbon Black market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Recovered Carbon Black industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Recovered Carbon Black. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Recovered Carbon Black industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Recovered Carbon Black industry to benefit customers and expand the market sector. Major Recovered Carbon Black market players, including Hi Green Carbon, Pyrolyx AG, Black Bear Carbon B.V., Scandinavian Enviro Systems AB, Delta-Energy Group, LLC, Alpha Carbone, DVA Renewable Energy JSC., Ecolomondo Corporation, Integrated Resource Recovery, Inc., and SR2O Holdings, LLC, and others, are attempting to increase market demand by funding R&D initiatives.
Hi Green Carbon is a South Korean company that specializes in the production of high-quality recovered carbon black (rCB). Hi Green Carbon's proprietary technology allows the company to produce rCB that meets or exceeds the performance of traditional carbon black, while also offering significant environmental benefits. The company's rCB is made from end-of-life tires and other rubber waste, which would otherwise be sent to landfills or incinerated, resulting in significant environmental impacts. Hi Green Carbon's rCB is used in a wide range of applications, including tires, plastics, and coatings.
Pyrolyx AG is a German-based company that specializes in the production of recovered carbon black (rCB) and other valuable materials from end-of-life tires. Pyrolyx's proprietary pyrolysis technology allows the company to convert end-of-life tires into high-quality rCB, which is a sustainable and cost-effective alternative to traditional carbon black. Pyrolyx's rCB is used in a variety of applications, including tires, plastics, and coatings, and has a lower carbon footprint than traditional carbon black. In addition to producing rCB, Pyrolyx also produces oil and gas as by-products of the pyrolysis process. The company's oil and gas can be used as fuel or as feedstocks for the production of other materials, providing additional value to the company's production process
September 2021: Ecolomondo Corporation announced to build and operate a six-reactor turnkey TDP facility in Shamrock, Texas.
Recovered Carbon Black Application Outlook
Recovered Carbon Black Regional Outlook
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