Global Recovered Carbon Black Market: Growing Applications of Recovered Carbon Black in Automotive and Rubber Tire Applications in Asia-Pacific is Expected to Drive the Global Market Growth During the Forecast Period
The global recovered carbon black market has been analyzed for five prominent regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The North American market accounted for the largest share of the global market in 2017 and is projected to register a significant CAGR during the forecast period. This is attributed to the increasing production and consumption of recovered carbon black (rCB) in automotive rubber and non-tire applications. The US is expected to be the leading market in the region due to the presence of major manufacturing companies such as Delta-Energy Group, LLC, Integrated Resource Recovery, Inc., and SR2O Holdings, LLC. Moreover, problems arising from the dumping of scrap tires and growing demand for eco-friendly products in the automotive industry are further expected to propel the regional market growth.
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The Asia-Pacific market held a substantial market share in 2017 and is projected to be the fastest growing market during the review period. This is attributed to the growing automotive industry and surging demand for rCB in rubber applications. China is projected to be the dominant market in the region followed by Japan, Taiwan, India, and South Korea. Furthermore, the surging demand for sustainable products in the automotive and coating industries is likely to favor the regional market growth during the review period.
The European market held second-largest market share in 2017 and is projected to exhibit a healthy CAGR in the coming years. Germany is expected to be the leading market in the region owing to the increasing application of the product in automobile tires and plastic. Italy, France, Switzerland, and the Netherlands are projected to be the major contributors to the regional market growth.
The Middle East & African market is likely to register a moderate CAGR in the following years due to the limited demand for the product in automobile and rubber applications. UAE and Saudi Arabia are expected to be the major countries contributing to the regional market growth.
The Latin American market is projected to witness sluggish growth during the assessment period owing to the moderate demand for the product in various end-use applications. Mexico is the leading consumer in the region followed by Argentina and Brazil, which contribute to the regional market growth.
Key players:
Some of the prominent players in the global recovered carbon black market are Hi Green Carbon (India), Pyrolyx AG (Germany), Black Bear Carbon B.V. (The Netherlands), Scandinavian Enviro Systems AB (Sweden), Delta-Energy Group, LLC (US), Alpha Carbone (France), DVA Renewable Energy JSC. (Vietnam), Enrestec Inc. (Taiwan), Integrated Resource Recovery, Inc. (US), and SR2O Holdings, LLC (US).
Segmentation:
The global recovered carbon black market has been classified on the basis of application and region.
By application, the global recovered carbon black market has been divided into tire, non-tire rubber, coatings, plastics, and inks.
On the basis of region, the global recovered carbon black market has been studied across Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
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