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The North America Recovered Carbon Black Market is expected to grow from US$ 884.67 million in 2021 to US$ 1,863.38 million by 2028; it is estimated to grow at a CAGR of 11.2% from 2021 to 2028.
Waste tires present a significant environmental, economic, and technical challenge due to their combustible nature and potential as a source of valuable materials and energy. Globally, various waste tire management methods, including the 3R principles (reduction, reuse, and recycling), are employed to minimize the severe threat these tires pose to the environment and human health. The European Union alone collects approximately 3.4 million tons of used tires annually. The tire industry in the EU is the largest consumer of virgin carbon black, utilizing about 1.8 million tons per year, which constitutes roughly 73% of the total demand. The production of 1 ton of virgin carbon black requires 1.5–2.0 tons of oil and releases approximately 2.5–3 tons of CO2. Recycled carbon black, derived from waste tires, serves as a crucial material in the production of tires, conveyor belts, and rubber parts, and is also finding applications in paints. Reusing tires offers a pathway to reduce CO2 emissions, thereby contributing to effective waste tire management. Consequently, the growing emphasis on waste tire management is fostering several key trends that are projected to significantly impact the North America Recovered Carbon Black Market in the coming years.
North America Recovered Carbon Black Market Introduction
The US, Canada, and Mexico represent major economies in North America. The substantial annual generation of waste tires and the increasing demand for environmentally friendly and rubber products are key factors driving the growth of the North America Recovered Carbon Black Market in the region. North America is a significant producer of end-of-life tires, with over 50 million tires manufactured annually. Recovered carbon black, a sustainable material, is extracted from these end-of-life tires. The US stands out as a major market for recovered carbon black in North America, with tires being among the most recycled products in the country. The escalating demand for tires from the automotive industry further fuels the recovered carbon black North America Recovered Carbon Black Market growth in North America. Key players in the region's recovered carbon black market are focused on delivering high-quality and cost-effective products. Strategic partnerships, such as the collaboration between Bridgestone Americas, Inc. and Delta-Energy LLC (leveraging Delta-Energy's green carbon black recovery technology for the tire market), and the five-year supply agreement between recovered carbon black manufacturer Pyrolyx and Continental AG, underscore the commitment to sustainable development initiatives and support the growth of the recovered carbon black market in the region. The ecological advantages of recovered carbon black are a primary driver for the North America Recovered Carbon Black Market expansion.
North America experienced significant economic disruption due to the COVID-19 pandemic. The US recorded the highest number of confirmed COVID-19 cases compared to Canada and Mexico. The unprecedented surge in cases across the US and Canada, followed by lockdowns of numerous manufacturing facilities, negatively impacted the growth of various North America Recovered Carbon Black Market. The substantial disruption in manufacturing operations, coupled with challenges in raw material sourcing, led to a decline in the demand for recovered carbon black. However, the market is showing signs of recovery, supported by significant government measures such as vaccination drives. As the economies recover, several industrial sectors are strategically planning investments in advanced products to maximize revenue. This is anticipated to provide impetus to the growth of the North America Recovered Carbon Black Market.
North America Recovered Carbon Black Market Segmentation
North America Recovered Carbon Black Market –By Application
Tire
Non-Tire Rubber
Plastics
Others
North America Recovered Carbon Black Market -By Country
US
Canada
Mexico
North America Recovered Carbon Black Market - Company Profiles
Bolder Industries
Delta Energy LLC
ENRESTEC
Klean Carbon
Pyrolyx AG
SR2O Holdings, LLC
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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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