Market Introduction
South America includes countries, such as Brazil, Argentina, and others. South America is another region contributing to the growth of recovered carbon black. There is a growing concern about environmental protection and tire waste disposal in several countries in this region. As a result, many tire manufacturers are collaborating with recovered carbon black producers or investing in the carbon black recovery processes. Michelin has launched its first tire recycling plant in Chile in collaboration with Enviro, a Swedish company that has developed a patented technology to recover carbon black, oil, steel, and gas from ELTs. This plant would be able to recycle 30,000 tons of earthmover tires a year. Such developments are likely to support the circular economy approach. However, more investments and collaborations from the private and public sectors are needed for the continuation of this approach, and resultant development of recovered carbon black market in South America. Ecological advantages of recovered carbon black is the major factor driving the growth of the SAM recovered carbon black market.
Brazil has been ranked to be third-most affected economy due to COVID-19 pandemic globally. In terms of South America, Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and combat the spread of COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact upon the growth of recovered carbon black market.
Market Overview and Dynamics
The recovered carbon black market in SAM is expected to grow from US$ 161.51 million in 2021 to US$ 305.75 million by 2028; it is estimated to grow at a CAGR of 9.5% from 2021 to 2028. The green economy is another vision of growth and development for many countries; it can promote economic development and improve people's lives while promoting environmental and social well-being. An important part of the green economy strategy is to promote the development and adoption of sustainable technologies. The importance of sustainability is not just based on an ecological perspective, but economic aspects also contribute to it. Recovered carbon black is emerging as an alternative to virgin carbon black that is produced from the combustion of crude oil. The carbon black recovered from recycled tires contributes to a significant decrease in CO2 emissions and emphasizes the concept of reusing products to minimize waste generation. Companies are heading towards the adoption of an eco-friendly and sustainable production approach by investing in better R&D activities to optimize resource consumption. For instance, Michelin, well-known France-based tire manufacturer, has acquired a significant stake in Enviro, a Swedish tire pyrolysis company, and is planning to build its first tire pyrolysis plant in South America through this collaboration. Therefore, such shift towards sustainability, along with rise in need for green alternatives, is emerging as a lucrative opportunity for the recovered carbon black market players.
Key Market Segments
Based on application, SAM recovered carbon black market is segmented into tire, non-tire rubber, plastics, and others. The tire segment dominated the market in 2020 and non-tire rubber segment is expected to be the fastest growing during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on recovered carbon black market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bolder Industries; Delta Energy LLC; ENRESTEC; Klean Carbon; Pyrolyx AG; and SR2O Holdings, LLC are among others.
Reasons to buy report
SAM Recovered Carbon Black Market Segmentation
SAM Recovered Carbon Black Market –By Application
SAM Recovered Carbon Black Market -By Country
SAM Recovered Carbon Black Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 161.51 Million |
| Market Size by 2028 | US$ 305.75 Million |
| CAGR (2021 - 2028) | 9.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Recovered Carbon Black Market is valued at US$ 161.51 Million in 2021, it is projected to reach US$ 305.75 Million by 2028.
As per our report South America Recovered Carbon Black Market, the market size is valued at US$ 161.51 Million in 2021, projecting it to reach US$ 305.75 Million by 2028. This translates to a CAGR of approximately 9.5% during the forecast period.
The South America Recovered Carbon Black Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Recovered Carbon Black Market report:
The South America Recovered Carbon Black Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Recovered Carbon Black Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Recovered Carbon Black Market value chain can benefit from the information contained in a comprehensive market report.
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