Carbon Black Market overview:
Carbon black is a type of para crystalline carbon that contains 95% pure carbon and improves the material's physical and mechanical properties, making the end product more effective. Carbon black market is primarily used in the production of tires, plastics, mechanical rubber goods, inks, and toners. It absorbs UV light and converts it to heat, which is why it is widely used in insulating wires and cables. Furthermore, it is used in the manufacture of a wide variety of rubber products and pigments. It is a low-cost rubber reinforcing agent used in tires.
The application segment is categorized into tires, non-tire rubber, coating, plastics, printing inks, toners, and others. The sub-segment of tires contributed the most to the market. Carbon dark is best known for its use as a pigment and reinforcing phase in vehicle tires. Carbon black conducts heat away from the tire's tread and belt area, reducing thermal damage and increasing tire service life. As vehicle demand rises, the automotive market is expected to expand significantly. This factor is expected to boost carbon black demand, particularly in tires and seat belts.
By region, Europe and North American Markets are also expected to grow at a faster pace. Carbon back, which is used in inks and paints, has seen phenomenal growth in the European market due to increased demand. To maintain a dominant market share, researchers and developers of advanced carbon black products in the region are heavily involved in acquisition and merger strategies. Furthermore, North America, specifically the carbon black market in the United States, will perform exceptionally well due to the large number of tires that need to be replaced. As the region's thriving automotive and construction industries, coatings, paints, and non-tire rubber are in high demand, which benefits the carbon black market.
The market is projected to grow at a significant pace reaching a CAGR of approximately 4.54%, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by Process (Furnace Black, Channel Black, Thermal Black, Others), by Grade Type (Standard Grade, Specialty Grade), Application (Tires, Non-Tire Rubber, Coating, Plastics, Printing Inks, Toners, Others), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Birla Carbon, Jiangxi Black Cat, Carbon Black Inc. Ltd., Cabot Corporation, Tokai Carbon Co. Ltd, OCI Company Ltd., Bridgestone Corporation, Himadri Chemicals Industries Limited, Orion Engineered Carbons, Shandong Huadong Rubber Materials, Phillips Carbon Black Ltd.
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