Carbon black is produced when coal, plant matter, coal tar, or petroleum products such as fuel oil, ethylene cracking, and fluid catalytic cracking tar are incompletely burned. The furnace method is most frequently used to generate carbon black because it offers a high yield and extensive control over the output’s particle structure and size, making it perfect for mass production. It is broadly utilized in many industries, including the paint and automobile industries.
In 2021, the market for carbon black was USD 13.45 billion, and by 2030 it will be worth USD 21.85 billion, growing at a 5.5% CAGR.
The market expansion is primarily driven by rising carbon black utilization in various end-use sectors, including aerospace and automotive. It is also used in various plastics, paints & coatings, and tire manufacturing processes. Car tires are where carbon black is used (70%) the most frequently.
The rubber industry’s explosive growth is a major driver of market expansion. The consumer goods, electronics, automotive, construction, and rubber industries are all seeing increased demand, fueling the rubber industry’s rapid expansion. Numerous industries heavily rely on rubber materials to produce windows, doors, belts, hoses, air springs, cables, tires, and gaskets. Rubber compositions almost often contain carbon black as a filler to reinforce and enhance their physical characteristics. Additionally, it supports the volume and vulcanization of rubber.
Hazardous gas emissions associated with production impede the development of the carbon black market. The production process emits various hazardous gases, reducing the product’s demand. These pollutants negatively impact the environment and human health. Inhaling these gases can cause nausea, chest tightness, dizziness, and headaches.
Plastic product manufacturing is fueled by rising customer demand, which drives market expansion. It is utilized as a filler in manufacturing plastic items like pipes, films, containers for photography, stretch wraps, and industrial bags. This item is in high demand due to its exceptional strength, great thermal conductivity, and effective antistatic properties. They also absorb UV rays and protect the plastic from fading, chalking, discoloring, and cracking.
By 2032, the value of the carbon black market from the furnace black process segment will exceed USD 33 billion. Because it uses readily available raw resources like coal or petroleum oil to create high-temperature gases, furnace black is a great method for mass production. It is used by carbon black manufacturers to cost-effectively create high yields. Additionally, this procedure makes it possible to have more control over aspects like particle size and shape, which promotes product consumption.
The Standard Grade segment will increase at the greatest CAGR. As industrial applications expand, the standard grade category holds a significant share. Tires, wires, and cables, standard-grade rubber-based products, are widely used in many industrial applications, which has led to dominance. The market for specialty grade is anticipated to rise rapidly due to its expanding use in the plastics and, inks & coatings industries.
Based on application, the carbon black market is segmented into tire, non-tire rubber, inks & coatings, plastics, and others.
The tire segment will increase at the greatest CAGR. Due to the fast growth of the automobile sector, the tire segment will continue to be the largest.
In 2021, North America held the maximum market position and generated revenue of USD 2.51 billion. The increase in demand for goods, including paints and coatings, molded plastics, wires, and cables, is attributed to the U.S. economy’s recovery and rising commercial and auto manufacturing activities.
Due to the growing packaged and polymer food sectors, North America has a sizable market for conductive-grade specialty carbon black in food packaging. The United States is the largest car market in the world. Major automakers have shifted production from foreign countries to the United States due to recently discovered domestic cost benefits. The United States is the major market in the auto industry thanks to its enormous consumer base, welcoming investment laws, accessible infrastructure, highly skilled labor, and government incentives.
- Cabot Corporation
- International China Oak Investment Holdings Co., Ltd
- Continental Carbon Company
- Birla Carbon
- Omsk Carbon Group
- Tokai Carbon Co, Ltd.
- Himadri Speciality Chemical Limited.
- Orion Engineered Carbons GmbH
- Atlas Organics Private Limited
- Philips Carbon Black Limited
In 2021, the market for carbon black was USD 13.45 billion, and by 2030 it will be worth USD 21.85 billion, growing at a 5.5% CAGR. The growing use of carbon black in the tire industry and sectors, including building, manufacturing, and printing, is driving the global market.
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