With the development of green tire industry and technology, the global carbon black recycling (rCB) market will enter a period of rapid growth. According to a recent study published by relevant agencies, the global market size of rCB is estimated at $55 million in 2018 and is expected to reach $491 million by 2023. The compound annual growth rate between 2018 and 2023 can reach 55.0%.
RCB is a kind of material derived from waste tire disposal & recycling at high temperature. It usually contains 10% - 20% (mass) non-carbon components. RCB can be used in tires, non-tire rubber products, plastics, coatings and inks and other applications. As an environmentally friendly and sustainable reinforcing filler, rCB is widely used in tires and non-tire rubber products. Due to the large number of scrap tires in the world every year, and the relatively low fixed cost of producing such carbon black, it is also an important reason to promote the rapid growth of the rCB market.
The research report predicts that the growth rate of tire application market will be the highest in the past five years. With the growing global automotive industry and the increasing demand for environmentally friendly and sustainable products, the demand for waste tire recycling will increase dramatically. This will promote the use of rCB in green tires for automobiles.
The composite annual growth rate of rCB for non-tire rubber is in the second place. RCB is used as reinforcing agent in some non-tire rubber products. These non-tire products include conveyor belts, rubber hoses, gaskets, seals, rubber sheets, anti-seepage membranes for civil engineering and rubber roofing materials. It is also used in footwear materials to make rubber soles wear-resistant. RCB improves the strength of rubber mechanical products. The growth of rCB in such applications is related to the increasing demand for environmentally friendly products in the rubber industry and the market.
North America is the largest application market of rCB, and the United States is the largest market in North America. Europe is the second largest market in the world. The increasing demand for environmentally friendly products in tires, non-tire rubber, plastics and coatings has boosted the growth of rCB market in these countries.
The problem of tire disposal and recycling and sustainable development has attracted wide attention of governments and people in various countries, including reducing carbon dioxide emissions in carbon black production, reducing production costs of carbon black, reducing market instability, and enriching and improving the genealogy of carbon black varieties. They all provide more opportunities for the healthy growth of the rCB market.