With the development of green tire industry and technology, the global recycling carbon black (rCB) market will enter a period of rapid growth. According to a recently published research report, the market size of rCB in the world is estimated to be US$55 million in 2018. It is expected to reach US$491 million by 2023 and a compound annual growth rate of 55.0% between 2018 and 2023.
rCB is a material derived from the pyrolysis of waste tires, usually containing 10% to 20% by mass of non-carbonaceous components. rCB can be used in a variety of applications such as tires, non-tire rubber products, plastics, coatings and inks. It is widely used in tire and non-tire rubber products as an environmentally friendly and sustainable reinforcing filler. . Due to the large number of waste tires in the world each year, the fixed cost of producing such carbon black is relatively low, which is also an important reason for the rapid growth of the rCB market.
The research report predicts that the growth rate of the tire application market will be the highest in the past five years. As the global automotive industry continues to grow and the industry's demand for environmentally friendly and sustainable products continues to increase, the demand for green tires will increase dramatically. This will drive the increase in the use of rCB in green tires for automobiles.
The compound annual growth rate of rCB for non-tire rubber is second. rCB is used as a reinforcing agent in several non-tire rubber articles. These non-tire products include conveyor belts, rubber hoses, gaskets, seals, rubber sheets, impermeable membranes for civil engineering, and rubber roofing materials. It is also used in footwear materials to impart abrasion resistance to the rubber sole. rCB increases the strength of rubber mechanical products. The growth of rCB in such applications is related to the growing demand for environmentally friendly products in the rubber industry and the market.
North America is the largest application market for rCB, with the US being the largest market in North America and Europe being the second largest market in the world. The growing demand for environmentally friendly products in applications such as tires, non-tire rubber, plastics and coatings is driving the growth of the rCB market in these countries.
The use of waste tire recycling equipment and sustainable development issues have attracted widespread attention from governments and civil society, including reducing carbon dioxide emissions from carbon black production, reducing carbon black production costs, reducing market instability, and enriching and improving Factors such as the spectrum of carbon black varieties provide more opportunities for the healthy growth of the rCB market.