Pune, India, July 13, 2022 (GLOBE NEWSWIRE) -- The global carbon black market size was valued at USD 12.61 billion in 2021. The market is projected to grow from USD 13.22 billion in 2022 to USD 18.09 billion by 2029, exhibiting a CAGR of 4.6% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Carbon Black Market, 2022-2029.”
Report Coverage:
The report offers valuable insights obtained from a thorough study done by our researchers. Extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels are obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
List of Key Carbon Black Market Players:
- Birla Carbon Thailand Public Co. Ltd. (Thailand)
- Cabot Corporation (U.S.)
- Orion Engineered Carbons SA (Germany)
- Phillips Carbon Black Limited (India)
- CSRC Group (Taiwan)
- Omsk Carbon Group (Germany)
- OCI COMPANY Ltd. (South Korea)
- Himadri Speciality Chemicals Ltd. (India)
- Longxing Chemical Industry Co., Ltd. (China)
- Mitsubishi Chemical Holdings Corporation (Japan)
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Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2021 | USD 12.61 Billion |
| Revenue forecast in 2029 | USD 18.09 Billion |
| Growth Rate | CAGR of almost 4.6% 2022-2029 |
| Base Year | 2021 |
| Historic Years | 2018 – 2020 |
| Forecast Years | 2022 – 2029 |
| Segments Covered | By Product Type, By Application, and By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Birla Carbon Thailand Public Co. Ltd., Cabot Corporation, Orion Engineered Carbons SA, Phillips Carbon Black Limited, CSRC Group, Omsk Carbon Group, OCI COMPANY Ltd., Himadri Speciality Chemicals Ltd., Longxing Chemical Industry Co., Ltd., Mitsubishi Chemical Holdings Corporation |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segments:
Furnace Black to Endure Quickest-Growing Segment Owing to Increasing Demand from Rubber Producers
On the basis of type, the market is segmented into furnace black, channel black, thermal black, acetylene black, and others. Furnace black is the dominating segment and is predicted to grow rapidly during the forecast period.
Standard Grade Segment to Hold Leading Share owing to Surging Industrial Applications
On the basis of grade, the market is bifurcated into standard grade and specialty grade. Standard grade held the dominant market share in 2021.
Tire Segment to Hold Largest Share Due to Swift Development in Automotive Sector
Based on application, the market is segmented into tire, non-tire rubber, inks & coatings, plastics, and others. The tire segment is anticipated to lead the market in the coming years.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints:
Quick Progress in Rubber Industry to Thrust Market Growth
The rubber industry is surging at a quick pace, owing to the growing demand from the automotive, consumer goods, electronics, and construction industries. In these sectors, rubber goods are greatly used in the manufacturing of tires, wires & cables, air springs, belts, hoses, windows & doors, and gaskets. Nearly every rubber compound contains carbon black as a filler to reinforce and enhance its physical characteristics. Moreover, it assists in strengthening the volume and vulcanization of rubber.
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Regional Insights:
Asia Pacific to Lead Backed by China Being the Largest Consumer of Material
Asia Pacific held the largest carbon black market share and stood at USD 7.15 billion in 2021. It is expected to lead the global market during the forecast period. China is the biggest creator and user of this product. The carbon black market growth in China is accredited to the growing usage of the product in tire and plastic goods manufacturing.
In North America, the growth is attributed to increasing usage of specialty grade in the inks & coatings application. Additionally, the increasing usage of furnace black in hoses, vibration isolation devices, air springs, and belts will drive the market growth in this region.
Furthermore, the quick growth in the automotive industry will increase the product demand in Europe. At this point, the higher adoption of the product can be witnessed in the diverse fragments of tires such as inner-liners, carcasses, treads, and sidewalls.
Competitive Landscape:
Ground-breaking Product Launches by Prime Companies to Reinforce Market Growth
The fundamental players implement numerous tactics to bolster their position in the market as dominating companies. One such prime strategy is procuring companies to bolster the brand value among users. Another vital strategy is intermittently launching innovative products with a comprehensive study of the market and its target audience.
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Carbon Black Market
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
TOC Continued…!
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Key Industry Development:
June 2021: Orion Engineered Carbons S.A. unveiled ECORAX Nature, a novel renewable carbon black product for rubber usage. This product is manufactured utilizing plant-grounded oils of industrial grade that are non-fossil derived and renewable.
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Rubber Market Size Share, Industry Forecast 2029
Plastic Market Size Share, Industry Forecast 2029
Conductive Carbon Black Market Size Share, Industry Forecast 2029
Paints and Coatings Additives Market Size Share, Industry Forecast 2029
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