The rising automobile and transport business is expected to fuel the growth of the global economy in the coming years. In addition, the widespread use of green tires in the automobile transport industry, as well as in the aerospace aviation and defense military industries, in a strategic move taken by various governments to regulate emissions and tackle the issue of ecological destruction caused by air pollution, would drive the scale of the market. This will not only build new opportunities for market expansion but will also remove the detrimental effects of the barriers over the next few years. It is also anticipated that factors such as low ash content, decreased CO2 emissions, and high longevity can see a wide variety of applications in the manufacture of tires and rubber products. In addition, the ample supply of tires along with the low fixed cost of the commodity would fuel global industry trends. Nonetheless, the lack of availability of substantial infrastructure facilities for manufacturing shipping the goods across the globe may, in the immediate future, stall, or even curb market expansion.
Recovered carbon black market producers and suppliers face difficulties in shipping the commodity because of its high cost, which is likely to curb global demand growth during the review period.
Competitive Leaderboard:
Some of the eminent players operating in the global recovered carbon black market are Pyrolyx AG (Germany), Delta-Energy Group, LLC (U.S.), Alpha Carbone (France), DVA Renewable Energy JSC. (Vietnam), Black Bear Carbon B.V. (The Netherlands), Enrestec Inc. (Taiwan), Integrated Resource Recovery, Inc. (U.S.), Scandinavian Enviro Systems AB (Sweden), Hi Green Carbon (India), and SR2O Holdings, LLC (U.S.).
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Market Segmentation
The global recovered carbon black market has been analyzed based on application and region.
Based on the application, the global recovered carbon black market has been classified into the tire, non-tire rubber, coatings, plastics, and inks.
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Regional Analysis:
The global recovered black carbon industry has been analyzed in five main areas, namely North America, Asia-Pacific (APAC), Latin America, Europe, and the Middle East Africa.
In 2017, the North American market had the highest market share and was predicted to post a robust CAGR over the projected period. This is due to the number of discarded tires and the demand for environmentally safe fillers for different applications such as tire, non-tire rubber, and plastics. The U.S. is expected to be the region's largest market.
Owing to the moderate demand for the product in automotive tire applications, the Middle East African market is poised to see steady growth during the review period. The UAE and Saudi Arabia are expected to contribute significantly to regional business development. Due to reduced demand for rCB in various end-use applications, the Latin American market is expected to be recording a modest CAGR in the following years. Mexico should be the industry leader, followed by Brazil and Argentina.
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