Carbon Black Market Analysis Projected to Reach $17,231.4 Billion by 2030| In-Depth Analysis with Top Key Players

 Tire Manufacturing Industry to Drive the Global Carbon Black Market

Carbon black comprises of various fine particles consisting primarily of carbon. It has a number of features that are controlled during production by partially combusting gases or oil. Carbon black is vastly used across in different industries with a number of applications from an electric conductive agent of high-tech materials to black coloring pigment of newspaper inks carbon Black Market is projected to be worth USD 17,231.4 Million by 2027, registering a CAGR of 4.5% during the forecast period (2020 - 2027).

The Carbon Black Market was seen witnessing a significant year of growth during 2020-2027, majorly due to the revived demand from end-user industries like plastics, paints & coatings, and tires. Also, the growth can also be accredited to the growing use of carbon black in the tire manufacturing industries, increasing demand from automotive and aerospace sectors, and the broadened application scope of carbon black in plastics and paints & coatings.

With tire manufacturing being the biggest consumer of the product, it has been seen as a dominant industry contributing to the growth of the market over the last few years. Emerging countries in the Asia-Pacific region like China, South Korea, and India are identified as major market contributors of carbon black. This is primarily due to the growing investment in tire and rubber-making industry and a substantial growth phase of the construction and automotive industries.

On the contrary, the market is facing striking challenges from the changing regulations, leading to the replacement of the product with silica as a reinforcing agent in the tire manufacturing industry. However, the booming automotive aftermarket and the construction sector in emerging countries is slated to be an opening of opportunity for further growth of the market.

Get a Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/4701

Market Segmentation

The market for carbon black is segmented on the basis of function, process type, and application.

By process type, the market segments into thermal black, furnace black, acetylene black, channel black, and others. The furnace black segment holds the largest market share in 2017 and is expected to grow with the highest CAGR percentage. The market valuation Is projected to reach an estimated USD 10.42 billion by 2023. Following furnace black, channel black segment is another key process type holding the second largest market portion in this category.

By function, the market divides into reinforcement and pigments. The reinforcement segment held over 80 percent of the market share in 2017, thereby showcasing its undeniable dominance over the latter. Benefits offered by carbon black reinforcement like greater wear & tear resistance, improved resilience of the material, superior conductivity as and where required, and various other important physical properties have all contributed to the dominance of this segment.

By application, the market includes Non-tire, Plastics, Paints & Coatings, Tire, Inks, and others. The tire segment held the highest market share and is expected to grow at a desirable pace in the forthcoming years of the forecast period.

Regional Analysis

The global carbon black market is geographically profiled under five major regions, namely Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa.

Asia-Pacific stands top with the highest market share portion among all other regions. The region is expected to reach a market value of USD 9,242 million by 2023. The market is majorly contributed by countries like China, India, Japan, and South Korea. The growth drivers of the market are high penetration of carbon black across various end-user industries, rapid scale urbanization and industrialization, and high growth of the end-users in the market.

North America follows Asia-Pacific in terms of market size, with the US contributing a significant portion of the market share. Europe is another superior regional market, wherein Germany is dominating the market share owing to a major automobile production therein. The Middle East & Africa and Latin America are expected to grow at a moderate pace during the as sessment period.

Browse Full Report For Better Understanding

https://www.marketresearchfuture.com/reports/carbon-black-market-4701

 

Competitive Landscape

The market includes noteworthy players like Nippon Steel & Sumikin Chemical Co., Ltd., Himadri Speciality Chemical Ltd., Orion Engineered Carbons, Cabot Corporation, Phillips Carbon Black Ltd., Longxing Chemical, OCI Company Ltd., Sid Richardson Carbon and Energy Co. Ltd., Tokai Carbon Co., Ltd., Kremenchug Carbon Black Plant, Mitsubishi Chemical Corporation, Hebei Daguangming Juwuba Carbon Black Co. Ltd., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Shandong Huadong Rubber Materials Co., Ltd., Suzhou Baohua Carbon Black Co., Ltd., ChemChina, JINNENG, Jiangxi Black Cat Carbon Black Inc., Ltd., among others.

Feb 23rd, 2019, Monolith revealed that it has begun the construction phase of a plant, wherein it is burning hydrogen instead of coal to ensure substantial reduction of the carbon dioxide emission. With this development, Monolith aims to bring-forward a resurgence of tire and auto manufacturing in the US.

Jan 21st, 2019, Balkrishna Industries Limited (BKT) is on the verge of inaugurating its new plant for the production carbon black. The plant stretching over 8 hectares in Bhuj, India is almost completed and is set for an official opening. The move will allow BKT to garner large carbon black quantities and a variety of specialty formulations in order to satisfy specific performance criteria for giants and other tires.

About Market Research Future:

 

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

 

Market Research Future®

 

99 Hudson Street,5Th Floor

 

New York, New York 10013

 

United States of America

 

Phone:

 

+1 628 258 0071(US)a

 

+44 2035 002 764(UK)

 

Email: sales@marketresearchfuture.com

 

Comments

Post a Comment

Popular posts from this blog

Smart Beacon Market: Key Market Developments and Innovations in 2023

This report delves into the segmentation of the smart beacon market, focusing on criteria such as beacon standard, connectivity type, offering, end use, and geographical distribution. The overall valuation of the smart beacon market is anticipated to reach USD 19,805.5 Million by 2023, with a notable compound annual growth rate (CAGR) of 56.2% spanning from 2017 to 2023. This impressive growth trajectory is propelled by the widespread adoption of smartphones and a heightened emphasis on leveraging business intelligence for competitive advantages. Smart beacons, also referred to as Bluetooth Low Energy (BLE) beacons, function as proximity sensors that transmit signals utilizing Bluetooth technology. When Bluetooth-enabled devices, such as smartphones or tablets, come within range of these beacons, they activate corresponding applications on the devices, prompting specific actions associated with the beacon signal. Leading players in this market, including Estimote (US), Aruba (A Hewlet
Read more

IoT Sensors Market Analysis Business Opportunity, Growth Factors, and Future Prospects until 2027

The IoT sensors market is expected to grow from USD 8.4 billion in 2021 to USD 29.6 million by 2026; it is expected to grow at a CAGR of 28.6% during 2021–2026. Increasing use of sensors in IoT applications due to cost and size reduction, and technological advancement, and Introduction of 3GPP Release 13 and Release 14 specifications are the key factors driving the growth of the IoT sensors market. The Growth of Internet penetration rate and High demand for connected and wearables devices are factors propelling the growth of the IoT sensors market. Major players in the IoT sensors market include Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec (Germany), TDK (Japan), Infineon Technologies (Germany), Analog Devices (US), Omron (Japan). These players have adopted various growth strategies, such as product launches, expansions, acquisition, collaborations, agreements, and partnerships
Read more

Hardware Security Modules Market Size, Share, Growth Drivers, Global Industry Analysis

The hardware security modules market size is projected to grow from USD 1.2 billion in 2023 to reach USD 2.3 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.5% from 2023 to 2028. The growth of the hardware security modules market is driven by increasing data breaches and cyberattacks, need to follow stringent data security compliances, and emergence of digital transactions, electronic payments leading to rise in the need for protecting sensitive financial data. Securing the Future : Hardware Security Modules Market Overview As digital transactions and data storage become the backbone of modern business, the need for robust security measures has never been more pronounced. The Hardware Security Modules Market plays a pivotal role in fortifying the digital landscape against cyber threats, ensuring the confidentiality and integrity of sensitive information. Hardware Security Modules Market Size, Share, and Statistics: Understanding the Landscape At t
Read more