The global market size for recovered carbon black is projected to grow from USD 55 million in 2018 to USD 491 million by 2023, at a compound annual growth rate (CAGR) of 55.0% during the forecast period. The major driving factors of the recovered carbon black market are growing demand for sustainable and environmentally-friendly fillers in tire and non-tire rubber applications, abundant availability of end-of-life tires, and low and fixed price of recovered carbon black.
APAC is estimated to be the fastest-growing market for recovered carbon black during the forecast period due to the increasing demand for sustainable products from the growing automotive and tire industries in the region. Additionally, the increasing production of rubber products and plastics is driving the growth of the recovered carbon black market in this region. China is projected to be the fastest-growing market for recovered carbon black in Asia Pacific, followed by India. North America is the second-fastest growing market for recovered carbon black. The growing governmental regulations regarding the use of environmentally-friendly products in the automotive industry is expected to provide growth opportunities for the recovered carbon black market in the region.
To know about the assumptions considered for the study download the pdf brochure
The key players in the recovered carbon black market are Pyrolyx (Germany), Delta-Energy Group (US), Black Bear Carbon (Netherlands), Scandinavian Enviro Systems AB (Sweden), Klean Industries (Canada), Radhe Group of Energy (India), Alpha Carbone (France), Bolder Industries (US), DRON Industries (Slovakia), DVA Renewable Energy JSC (Vietnam), Enrestec (Taiwan), Integrated Resource Recovery (US), and SR2O Holdings (US). These players adopted expansions, agreements, and joint ventures as their key growth strategies from 2015 to 2018, which helped them increase their capacities and cater to the widening customer base.
Scandinavian Enviro Systems AB (Sweden) adopted agreement as its primary strategy to increase its geographic presence. The company, in December 2018, signed a Memorandum of Understanding (MoU) with EE-TDF Cleveland (US), a company involved in tire recycling. Under this agreement, the companies will construct a recycling plant with a capacity of recycling about 30 kilotons tires/year at the existing site of EE-TDF Cleveland located in Texas, US. This agreement will enable Enviro to increase its footprint in the US market. In June 2018, the company signed an MoU with Treadcraft Limited (US), a tire recycling company, for establishing a recycling plant in New York, US. This plant will have a recycling capacity of about 30 kilotons tires/year and is expected to increase the presence of Enviro in the North American Market.
Pyrolyx (Germany) adopted strategies such as expansion and joint venture to increase its production capacity and geographic presence. Pyrolyx USA, a subsidiary of Pyrolyx, started construction of a plant at Terre Haute, Indiana, US in October 2018. It is expected to be built entirely by May 2019 and is likely to be operational in June 2019. This plant will have a processing capacity of 40,000 tons of end-life-tires, annually, and will produce about 13 kilotons of recovered carbon black. In December 2016, Pyrolyx International, a subsidiary of Pyrolyx and Reklaim (US), signed a joint venture agreement for the establishment of Pyrolyx USA in the US. Under this joint venture agreement, both the companies will collaborate to establish and operate one or more production facilities for recovered carbon black in the US and Canada. Pyrolyx holds 94% share in Pyrolyx USA.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=239229065
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/recovered-carbon-black-market-239229065.html