Recovered Carbon Black Market Share, Industry Value, Growth, Forecast, 2032

The global recovered carbon black market size was valued at USD 118.7 million in 2023 and is projected to reach a valuation of USD 161.1 million in 2024. The market is expected to reach USD 1,910.4 million by 2032, with a CAGR of 36.2% during the forecast period.

Recovered Carbon Black (rCB) is an environmentally friendly alternative that has a similar set of properties as traditional carbon black such as high durability and conductivity. rCB helps in the reduction of waste and promotes a circular economy. Increasing demand for eco-friendly products and the need to reduce carbon emissions is set to drive market growth. Increasing demand for the product from the tire industry is set to boost the demand in the market. Owing to the restrictions imposed due to the COVID-19 pandemic, manufacturing facilities were forced to shutdown, causing a shortage of products. Fortune Business Insights™ shares this information in its report titled “Recovered Carbon Black Market, 2024-2032”.

Recovered Carbon Black Segmentation Analysis

Tire Segment Leads the Market Owing to Awareness of Sustainable Products

On the basis of the application, the market is divided into tire, non-tire rubber, plastics, inks, and others. The tire segment holds the largest market share owing to the awareness regarding the benefits of sustainable products. On account of this awareness, the demand for carbon black is also set to increase which is set to be the major contributor to the segment growth.

Based on geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Adoption of Sustainable and Eco-Friendly Products to Propel Market Growth

The trend toward the adoption of sustainable and eco-friendly products is set to drive the recovered carbon black market growth. The recycling makes recovered carbon black of end-of-life tires and other rubber products which diverts them from landfills and reduces carbon emissions. Additionally, advancements in processing technology are also expected to drive market growth.

However, insufficient facilities and inadequate knowledge and skills required by the personnel handling are set to hamper market growth.

Source- https://www.fortunebusinessinsights.com/recovered-carbon-black-market-109550 

Regional Insights

Presence Of Well-Established Infrastructure For Production And Distribution Fostered Market Growth In North America

North America held the largest recovered carbon black market share with a valuation of USD 42.99 million in 2023, owing to the presence of key manufacturers in the region. It is also known for having a well-established infrastructure for the production and distribution of the products. In addition, growing awareness regarding the benefits of rCB is also propelling market growth.

Asia Pacific is experiencing a higher growth rate owing to the growing demand for sustainable and eco-friendly solutions. The increasing awareness for environmental issues is driving the demand for recovered carbon black which is expected to drive the market growth in the region.

Competitive Landscape

Operational Efficiency and New Technology Development by Market Players to Boost Market Growth

The global recovered carbon black market is competitive and consolidated as the market players have been heavily investing in developing better technologies to improve product output. Operational efficiency and new technology development are some of the strategies adopted by the market leaders.

Key Industry Development

List of Key Players Profiled in the Report: