Global Carbon Black Market size was valued at USD 14.9 Billion in 2023 and is expected to reach USD 40.5 Billion by 2032, at a CAGR of 4.6% during the forecast period 2023 – 2032.
Carbon Black Market: Overview
Carbon black is a fine, powdery form of carbon formed mostly from incomplete hydrocarbon combustion. It is made up of elemental carbon and typically includes trace quantities of hydrogen, oxygen, and other contaminants.
Carbon black is commonly used as a reinforcing filler in rubber products including tires, hoses, and belts because it improves elasticity, resistance to abrasion, and longevity.
Increasing need for sustainable and ecologically friendly carbon black manufacturing methods, which has resulted in greater study and funding in cleaner production technologies like gasification and pyrolysis.
Changing customer tastes and regulatory norms are driving a trend toward specialist carbon black grades designed for specific uses such as automobile tires, plastics, and coatings. Furthermore, the rise of the automotive and construction sectors, particularly in emerging nations, is driving up demand for carbon black as a reinforcing ingredient in rubber and tire production.
Furthermore, the growing digitization and use of sophisticated analytics are improving supply chain management and operating efficiencies throughout the carbon black business.
By process, the furnace black segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Furnace black in the carbon black market is showing signs of growing demand for high-performance grades, advances in manufacturing techniques for effectiveness, and a focus on sustainable practices to reduce environmental effects.
By grade, specialty grade segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The growing popularity of high-performance applications such as electronics, plastics, and coatings is driving the specialty grade carbon black market, with a focus on lightweight, sustainable, and advanced material features.
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By application, tires segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Carbon black market trends for tires encompass rising demand for sustainable and high-performance materials, a focus on lowering rolling resistance for fuel economy, and developments in reinforcing technology.
The carbon black market in Asia-Pacific is increasing rapidly, owing to the expansion of the automobile and industrial industries, notably in China and India. Furthermore, there is a growing emphasis on sustainability practices, resulting in greater demand for specialized carbon blacks and ecologically friendly manufacturing techniques.
Orion Engineered Carbons GmbH produces and distributes carbon black goods. The firm provides goods that are largely utilized as consumables and additives in the manufacture of plastics, printing inks, and coatings, as well as in the reinforcement process of rubber polymers.
CMI has comprehensively analyzed the Global Carbon Black market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Carbon Black industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Carbon Black Market:
- Cabot Corporation
- Birla Carbon
- Orion Engineered Carbons
- Continental Carbon Company
- Tokai Carbon Co. Ltd.
- Phillips Carbon Black Limited
- Sid Richardson Carbon & Energy Co.
- Mitsubishi Chemical Corporation
- Jiangxi Black Cat Carbon Black Inc.
- OCI Company Ltd.
- Longxing Chemical Group
- China Synthetic Rubber Corporation
- Himadri Specialty Chemicals Ltd.
- Omsk Carbon Group
- Asahi Carbon Co. Ltd.
- Ralson Carbon
- Shandong Huadong Rubber Materials Co. Ltd.
- Nippon Steel Chemical & Material Co. Ltd.
- Suzhou Baohua Carbon Black Co. Ltd.
- Jinneng Science & Technology Co. Ltd.
- Others
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