Market Challenges And Opportunities

Market Dynamics:-

Asia Pacific holds dominant position in the market for recovered carbon black and also is the fastest growing market, owing to increasing demand for sustainable and environment-friendly products in the automobile and tire industry. According to India Brand Equity Foundation, Indian automotive industry is expected to reach US$ 282.9 million by 2026 from US$ 251.4 million in 2018. Therefore, significant growth in the automotive industry is expected to boost the market growth in the region over the forecast period.

Market Outlook:-

Increasing production of plastics and rubber products is a major driving factor for growth of the global recovered carbon black market. Recovered carbon black is widely used in the non-tire rubber industry as a reinforcing agent in the production of several non-tire rubber products such as hoses, conveyor belts, seals, gaskets, geo-membranes, rubber sheets, and rubber roofing. Recovered carbon black enhances the strength of rubber as it contains low ash percentage. According to The Food and Agriculture Organization Corporate Statistical Database, natural rubber production in China increased from 690,812 tons in 2010 to 817,366 tons in 2017. Therefore, significant increase in rubber production is expected to boost the market growth over the forecast period.