The global Carbon Black market size was USD 18.78 Billion in 2021 and is expected to register a revenue CAGR of 4.35% during the forecast period. The major factor driving market revenue growth is rising demand from various end-use sectors, such as construction, automotive, fiber and textiles, and Rubber. Carbon black is a type of para crystalline carbon that contains 95% pure carbon, and it enhances physical and mechanical properties of materials. It is primarily used in manufacturing tires, Plastics, rubber products, Printing Inks, and Toners. This substance is capable of absorbing ultraviolet (UV) light and converting it to heat, and therefore, it finds its main application in insulation of wires and cables. Moreover, it is used in the production of a wide variety of rubber products and pigments, and it acts as a cost-effective rubber reinforcing agent in tires.
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Top Lading Players: Phillips Carbon Black Limited, Cabot Corporation, OCI Company Ltd., Birla Carbon, Omsk Carbon Group, Orion Engineered Carbons SA, Mitsubishi Chemical Corporation and Tokai Carbon Co., Ltd. Tokai Carbon, a Japanese chemical company is major global manufacturer. The company offers a wide variety of products, including SEAST, TOKABLACK, Aqua Black, and Thermal Black, for applications ranging from the automotive industry to electrical and electronics.
Carbon Black Market Growth and Demand:
The carbon black market has experienced steady growth in recent years, driven by increasing demand from end-use industries such as tire manufacturing, plastics, and coatings. Carbon black is a form of carbon that is produced by the incomplete combustion of heavy petroleum products. It is commonly used as a reinforcing agent in rubber products such as tires, as well as a pigment in plastics and coatings.
Some Key Highlights from the Report:
- Resins manufactured using carbon black are widely used in automobile bumpers, steel pipe linings, and wire coverings. When mixed with resins in a small amount, the product can absorb ultraviolet light, providing excellent resistance against ultraviolet rays and coloring.
- The graphite-type crystalline structure of the product ensures excellent electric conductivity. Thus, the product is widely used as conductive filler, being mixed in plastics, elastomer, paints, adhesives, films, and pastes.
- Carbon black has witnessed an increased adoption for the production of molded parts using injection and blow molding. The product is widely used in the automotive, consumer, and industrial markets. Consumers demand deep black color balance in the case of consumer goods such as appliances and electronics equipment and packaging.
- The increasing demand for lithium-ion batteries is projected to influence the market in the forecast period. Several companies have been offering carbon black to meet the growing demand for lithium-ion batteries. For instance, the LITX conductive additives by Cabot Corporation offer low-temperature performance and higher energy density with extended cycle life for electronics, electric vehicles, and energy storage systems.
- Asia-Pacific is projected to dominate the market in the forecast period. Increasing adoption of the product in end-use industries, including automobiles, paints, and coatings, and rubber is expected to boost the market growth. Moreover, the adoption of expansion strategies by market players operating in the region would also influence growth.
Segments covered in the report:
Process Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Furnace Black Process
- Channel Black Process
- Thermal Black Process
- Acetylene Black Process
Grade Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Standard Grade
- Specialty Grade
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Tires and Industrial Rubber
- High Performance Coating
- Plastics
- Films and Sheets
- Pressure Pipes
- Molded Parts
- Toners and Printing Inks
- Wires and Cables
- Paints and Coatings
- Textile Fibers
- Others
End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Consumer Goods
- Industrial
- Automotive Transportation
- Interior
- Exterior
- Fuel Systems
- Packaging
- Textiles
- Apparel
- Upholstery
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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