Carbon black is the finely separated amorphous carbon compound produced by thermally breaking down heavy petroleum products like coal tar and ethylene cracking tar.
The market for carbon black in 2021 was USD 13.45 billion, and by 2030 it will be worth USD 21.85 billion, growing at a 5.5% CAGR during the forecast period.
A significant factor boosting the market is the wide range of uses for carbon black in the automotive, construction, painting and coating, and other end-user sectors. Additionally, the production of belts, conveyors, springs, gaskets, and other industrial machinery utilized in the building and power industries is rapidly using more carbon black. Increases in these end-user industries’ numbers will support the market throughout the coming years.
Market Dynamics
Drivers
Primary factors promoting the market’s expansion are the increasing demand for carbons black as a tire filler in the rubber sector due to its improved physical properties, increased strength and longevity, and decreased thermal stress. Additionally, there is an increase in demand for carbon black due to its ability to shield polymers from UV deterioration, lower the price of polymers, and improve plastic transmission globally. In addition, the increasing use of carbons black as a black pigment in the paint and coating business to reach a spectrum ranging from gray to deep black globally provides investors with lucrative growth opportunities.
Restraints
In the upcoming years, the market expansion will be constrained by fluctuations in the price of raw materials, an increase in the use of substitutes like silica, and environmental issues linked to the production of carbon black.
The production of black carbon releases harmful gases, such as sulfur dioxide, nitrogen oxides, carbon dioxide, and carbon monoxide, as well as other particles that adversely affect the atmosphere, impeding the expansion of the market for carbon black.
Opportunity
The construction and automotive sectors are expanding in several emerging economies, including Brazil, India, South Africa, and China, and this is driving the growth of the carbon black market.
The need for developing the carbon-black industries in these countries is driven by the rapidly growing senior population, rising per capita incomes, and high vehicle ownership rates.
The growing investment in this industry will provide growth prospects due to the numerous applications of carbon black products in the plastic, paint, and automotive sectors.
Market Segmentation
By Process
The furnace black segment will expand rapidly during the forecast period. Furnace black is being used more frequently in various sectors, including the rubber, tire, coating, and cosmetics industries. The incomplete combustion of coal or petroleum oil in an oil furnace produces it, and this method enables the bulk production of this substance with various particle sizes, shapes, and chemical compositions. Furnace black is frequently used as a reinforcing agent in the methods used to make rubber. Furnace black is increasingly being used to reinforce rubber in tires and other rubber products. Due to the demand for tires in the automotive industry, propelling this market’s revenue development.
By Grade
Over the forecast period, the specialty grade sector will develop rapidly. Specialty grade carbon black is a highly refine type of carbon black produce through the furnace black, channel black, acetylene black, and lamp black processes. In a limit air supply, hydrocarbon is burn to create specialty-grade carbon black, used in pigmenting, UV stabilizing, and conductive agents. In order to improve the performance of electrical vehicles, electrodes used in lithium-ion batteries must be excellent for both charging and discharging. Expanding EV adoption and production will support this market segment’s revenue development.
By Application
Throughout the forecast period, the tire sector will have the fastest CAGR. Most people are familiar with carbon black from its use in tires as a pigment and reinforcement substance. It conducts heat away from the tread and belt regions of tires, decreasing thermal damage and lengthening their useful lives. The automotive market will expand rapidly due to increased vehicle demand. Which will drive demand for carbon black, particularly for tires and seat belts.
Regional Analysis
Asia Pacific ruled the entire market, with a significant revenue share of 33.8% in 2022. Increased plastic usage in key end-use industries such as construction, automotive, conductive polymers, and packaging is driving growth in this area. The growth of the carbon black market will be primarily drive by the increase in polymer output in China, India. And Southeast Asian nations like Korea, Thailand, Malaysia, and Vietnam.
The continuous growth of the automotive, polymer, and manufacturing sectors in North America will fuel. The expansion of the black market for carbons.
Because of the substantial demand in the textile industries. The Europe region will experience significant growth in the carbon black market during the forecast period.
Key Players
- Omsk Carbon Group
- Birla Carbon
- Tokai Carbon Co, Ltd.
- Continental Carbon Company
- International China Oak Investment Holdings Co., Ltd.
- Philips Carbon Black Limited
- Cabot Corporation
- Himadri Speciality Chemical Limited.
- Atlas Organics Private Limited
- Orion Engineered Carbons GmbH
- Ralson
The market for carbon black in 2021 was USD 13.45 billion, and by 2030. It will be worth USD 21.85 billion, growing at a 5.5% CAGR during the forecast period. The market growth is drive by the expanding tire sector, rising applications in the textile and fiber sectors. And the growing market penetration of specialty black.
Specialty grades, for example, conductive, fiber, and food take care of end-use ventures, for example, battery terminals, conductive polymers, PP masterbatches, paints and coatings, specialty bundling, customer shaped parts, printing inks, polyester fiber, and film and sheets. They have superb conductivity attributes, are UV-defensive, contain metals, and are low in sulfur and debris. Furthermore, specialty carbon blacks are utilize in an assortment of covering applications, including car, wood, aviation, modern coatings, and marine, to offer UV security, conductivity, and shading. Hoses, bushings, belt, frame guards, tires, transport wheels, grommets, gaskets, vehicles, compartments, wiper cutting edges. And others are the products that use specialty carbon dark as a supporting specialist.
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