Recovered Carbon Black Market Size, Share, Growth Analysis, By Application(Plastic, Tires, Coatings, Non-Tire Rubber), By Type(Inorganic Ash Content, Conductive, Non-Conductive), By Region - Industry Forecast 2024-2031

Global Recovered Carbon Black Market size was valued at USD 131.14 billion in 2022 and is poised to grow from USD 173.37 billion in 2023 to USD 1617.40 billion by 2031, growing at a CAGR of 32.20% during the forecast period (2024-2031).

In the world, some 18 million tonnes of tyre trash are produced annually, according to EnviroCB, one of the top producers of recovered carbon black. According to data released by OICA, the rate of growth in these nations' automotive output from 2018 was 69.7%, 2%, 31.1%, and 13.9%, respectively. As a result, it is anticipated that tyre manufacturing and high-performance coatings will dominate European product demand. Due to its improved protective capacity and aesthetic appeal, the market for high performance coatings is predicted to experience rapid increase. In the automobile and aerospace industries, these coatings are becoming more popular because they offer durability. For the past few years, the world's auto industry has experienced significant expansion. According to OICA figures, the world produced 94.97 million units in total, up to 95.63 million units. In light of this, it is projected that increasing automobile production will increase demand for high performance tyres and coatings, which will benefit the market. The expansion of the rubber sector and rising demand for environmentally friendly products are the main factors driving the emergence of the black market for recovered carbon.