Scienza e Tecnologia
Recovered Carbon Black Market to Reach $8.76 Billion, Globally, by 2028 at 11.7% CAGR - Recent study by The Insight Partners
Producing recovered carbon black from waste generated by rubber goods, specifically tires is an ecologically beneficial process. To produce 1 kg of virgin carbon black, ~1.5–2 kg of crude oil is required. Recovering carbon black also entails reusing valuable raw materials, propelling one higher up the recycling hierarchy. Thus, replacing virgin carbon black, produced out of traditional furnace processes, with recovered carbon black considerably reduces carbon footprint. The use of recovered Carbon Black (rCB) alone can reduce the size of the carbon footprint by 80%, which is why many large tire manufacturers are trying to use significantly more recovered carbon black.
The ongoing pandemic has drastically altered the status of the industrial sector and has negatively impacted the growth of the recovered carbon black market. The implementation of measures to combat the spread of the virus has aggravated the situation and has impacted the growth of several industrial sectors. Industries such as automotive, industrial, oil & gas, chemical, aerospace have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. For instance, an article published by ACEA highlighted the severity of the impact of COVID-19 upon the automotive sector. The production and sales of motor vehicles suffered a sudden halt in operation, with sales of car registering a drop by 25% in Europe . This has direct correlation with the demand for recovered carbon black. Moreover, the recovered carbon black market is still in the nascent stage, with manufacturers developing products with different grades and technological advancements.
Based on application, the recovered carbon black market is segmented into tire, non-tire rubber, plastics, and others. The tire segment held the largest share of the market in 2020. It is used in the inner liners, sidewalls, carcasses, and treads of different tires, utilizing various types based on specific performance requirements. However, the demand for non-tire rubber products is also expected to witness steady growth over the forecast period. These products include hoses, conveyor belts, seals, gaskets, geomembranes, rubber sheets, and rubber roofing.
Black Bear Carbon B.V.; Bolder Industries; ENRESTEC; Klean Carbon ; Radhe Group Of Energy; Scandinavian Enviro Systems AB; SR2O Holdings, LLC; Delta Energy LLC; Pyrolyx AG; Alpha Carbone are among the key players in the recovered carbon black market. These market players are highly focused on innovation and research to increase the commercial adoption of recovered carbon black.
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