Carbon Black Market to Develop at CAGR of 4.5% During Forecast Period, Notes TMR Study

ALBANY, N.Y., March 3, 2022 /PRNewswire/ -- The global carbon black market was valued over US$ 18.6 Bn in 2020. The market is predicted to rise at a CAGR of 4.5% during the forecast period, from 2021 to 2031. The global carbon black market is anticipated to surpass the value of US$ 29.9 Bn by 2031. Growing uses of carbon black in different end-use industries, particularly tires, paints & coatings, and rubber, are likely to drive the global carbon black market. In order to reap revenue opportunities in developing countries, companies in the global carbon black market are focused on product advancements. The market is being driven by a rise in demand for carbon black in the automobile industry.

Manufacturing firms are concentrating on addressing problems in the carbon black market, including raw material price volatility. Crude oil prices have a direct impact on the raw ingredients utilized in carbon black. Market players are improving the productivity and enhancing efficiency of their operations in order to achieve consistent growth.

Carbon black is in high demand in a variety of applications, including battery electrodes, rubber reinforcement, plastics, paints & coatings, and inks & toners. Carbon black is being widely used in the tire business, which is likely to emerge as a key market driver. Carbon black is commonly utilized in tire and non-tire rubber compositions as a reinforcing filler. Vehicle sales and manufacturing are increasing all over the world, which is likely to support growth of the market. Carbon black is commonly used to strengthen rubber in tires. It can account for up to 30% of the tire's weight. Carbon black is used in a variety of automobile rubber parts, including anti-vibration parts, hoses, seals, and engine mounts.

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Key Findings of Market Report

• The global carbon black market is driven by industrial expansion, urbanization, and rise in the number of construction as well as manufacturing industries globally. Carbon black is also utilized as a performance enhancer in inks and pigments, paints and coatings, and the plastics industry.
• Carbon black is in high demand in the rubber industry, since it renders rubber stronger and more resistant to stress and tear. Rubber tires are additionally protected from UV radiation and oxidation by carbon black, which is utilized in the manufacturing process. As a result, carbon black is becoming more widely used as a filler in rubber composites. Rubber gains volume, strength, and physical qualities as a result of this additive. Carbon black is utilized in mechanical rubber products such as membrane roofing, industrial rubber goods, and automotive rubber parts including anti-vibration parts, hoses, and sealing systems among many other things.

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• In the next few years, Asia Pacific is projected to lead the global market. Carbon black is in high demand in numerous end-use industries of Asia Pacific. This factor is likely to boost regional output of carbon black. Expanding automotive industry, rising demand for vehicles, and rapid regional industrialization are factors that have contributed to the region's large market share.
• Existence of several competitive market players focused on boosting carbon black output in response to a greater demand from diverse fields is likely to help in the growth of the global carbon black market

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Global Carbon Black Market: Growth Drivers

• Market expansion is being fueled by extensive research and development initiatives aimed at finding new and cost-effective techniques to generate carbon black. The global market is being bolstered by technological advancements.
• Increasing use of carbon black in plastic processing, printing inks, and coatings is likely to generate revenue for carbon black producers

Global Carbon Black Market: Key Players

Some of the key market players are

• Shandong Huadong Rubber Types Co., Ltd
• Abu Dhabi National Oil Company (ADNOC)
• Phillips Carbon Black Limited
• Mitsubishi Chemical Corporation
• OMSK Carbon Group
• Tokai Carbon Co Ltd.

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Global Carbon Black Market: Segmentation

Grade

• Standard
• Specialty

Type

• Furnace Black
• Lamp Black
• Thermal Black
• Acetylene Black

Application

• Rubber Reinforcement
• Paints & Coatings
• Plastics
• Battery Electrodes
• Inks & Toners
• Others

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