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Carbon Black Market Booming Demand Accelerate to Exponential Growth will reach $ 27.64 Billion by Forecast 2029: Exactitude Consultancy

Carbon Black Market by Grade (Standard, Specialty), type (Furnace black, lamp black, Thermal black, Acetylene black), Application (Rubber enforcement, Paints and coatings, Plastics, Battery electrode, Ink and toner and another) and Region, Global trends and forecast from 2022 to 2029

/EIN News/ -- Luton, Bedfordshire, United Kingdom, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Carbon Black Market.

“The carbon black market was estimated to be USD 18.6 Billion in 2020 and at a CAGR of 4.5% is estimated to grow to USD 27.64 Billion by 2029.”

 Carbon Black Market Overview

Carbon Black is a type of para crystalline carbon that contains 95.05% pure carbon and improves the material's physical and mechanical properties to increase the final product's effectiveness. Carbon Black is primarily used in the production of tires, plastics, mechanical rubber products, printing inks, and toners. Its primary application is in insulating wires and cables due to its ability to absorb UV radiation and convert it to heat. It is also used to make a variety of rubber products and pigments. It is effective as a low-cost rubber strengthening agent in tyres.

The automotive industry is expected to provide a lucrative opportunity for the Carbon Black industry because of the rising trend of tire replacement and the growing demand for high quality and premium tires. Because the tire industry accounts for roughly 3/4 of the total Carbon Black market, the introduction of electric vehicles will drive demand for Carbon Black tires over the assessment period.

Carbon Black is in high demand in a wide range of applications, including rubber reinforcement, paints and coatings, plastics, battery electrodes, and inks and toners.

The electronics industry also contributes to the black carbon market to some extent. As can be seen, black is clearly the most popular color in any line of electronics. The electronics manufacturing production line of laptops, desktops, televisions, mobile phones, and other products has contributed to the growth of the black carbon market.

Carbon Black has historically been driven by tire sales, which account for roughly 70% of total demand. The production of new vehicles, combined with rising disposable income in developed economies, is expected to open up new market opportunities for chemicals.

High Demand for Carbon Black in Rubber Industry”

 Live Get a Free Sample Report of Carbon Black Market -> https://exactitudeconsultancy.com/reports/11727/black-carbon-market/#request-a-sample

Drivers

  • Increased adoption of electric vehicles

Increasing environmental regulations are driving the trend of electric car manufacturing, which is increasing demand for high-quality ingredients in batteries to ensure that drivers arrive safely. The lithium-ion battery has become an indispensable part of modern life, and portable electronic devices such as cell phones, laptop computers, and power tools were among the first to employ this technology. However, electric vehicle batteries must meet stringent performance and economic criteria.

  • Rising demand in the tire industry

Carbon Black is used in the rubber industry to improve certain desirable qualities of tire rubber. Furthermore, the UV resistance provided by this material, as well as its function as an ozone scavenger, aid in the stabilization of tire rubber against UV light and oxidation, as well as the prevention of fissuring or cracking. It also helps in the reduction of thermal damage to the tire and the extension of its lifespan. A growing automobile industry globally is creating a high demand for efficient tires, which is driving market revenue growth.

  • High Demand for Carbon Black in Rubber Industry

Carbon Black is widely used in the rubber industry as well. Carbon Black is used in almost 90% of rubber applications, both automotive and non-automotive. Carbon Black is used in approximately 70% of tire applications and 30% of non-tire applications. Carbon Black is used in industrial rubber products as a rubber reinforcing agent, which has become a source of revenue in the Carbon Black market.

  • The Plastic Industry Supporting the Carbon Black Market

Carbon Black finds a significant market in the plastic polymers market. This is primarily due to the properties of Carbon Black, which can impart color, opacity, electrical conductivity, and resistance to ultra-violet degradation in plastic materials. The growing use of the material in many plastic segments such as molding, film, pipe, fiber, and cable is increasing the size of the global Carbon Black market.

Restraints

Changes in raw material prices and dangerous gases emitted into the atmosphere during the production of Carbon Black are major restraints on the global Carbon Black market. Another constraint in the Carbon Black industry is the external modification of Carbon Black by other materials such as precipitated silica or nano-silica.

Opportunities

The increased demand for Carbon Black due to its UV protection and conductive properties in plastics is expected to create new opportunities for market expansion.

Challenges

The market is being challenged by changing rules that are causing Carbon Black to be replaced with silica as a reinforcing agent in tire manufacturing. However, the strengthening of the automotive aftermarket and construction segments in emerging economies presents a significant opportunity for further market expansion.

Segmentation of Carbon Black

By Type: Furnace Black to Remain Fastest-Growing Segment Owing to the Surging Demand from Rubber Producers

  • Furnace Black
  • Channel Black
  • Thermal Black
  • Acetylene Black
  • Lamp Black
  • Others

The furnace black segment is expected to grow at a significantly faster rate, throughout the forecast period. This is due to the increased use of furnace black in industries such as rubber, tire, coating, and cosmetics. Furnace black is widely used in rubber manufacturing processes as a reinforcing agent. The automobile industry's demand for tires is increasing the use of furnace black to reinforce rubber in tires and other rubber products, which is driving revenue growth in this segment.

The thermal black segment is the global market's second largest. The increase can be attributed to its UV absorbent properties, which have increased demand in the plastics industry.

Acetylene black is created by thermal decomposition of acetylene gas. The product's high purity and extreme conductivity enable it to be used in the manufacture of silicon products, electric power cables, and dry cells.

By Applications: Tire Segment to Remain Largest Due to Rapid Growth in Automotive Industry

  • Tire
  • Industrial Rubber Products
  • Electrostatic Discharge Compounds
  • Toners and Printing Inks
  • Coatings
  • Textile Fibers
  • Battery Electrodes
  • Others

Tires are expected to grow at the fastest rate during the forecast period. The product accounts for approximately 30% of the total weight of a tire manufactured. Furthermore, rapid growth in the automotive industry has fueled tire consumption, assisting in product demand. Carbon Black is best known for its use in vehicle tires as a pigment and reinforcement material. The automotive market is expected to expand rapidly due to increased vehicle demand, which will drive demand for Carbon Black, particularly for tires and seat belts.

By Grade

  • Standard Carbon Black
  • Specialty Carbon Black

In 2021, standard grade held the lion's share of the Carbon Black market. This dominance is due to the increasing use of standard grade rubber-based products for a variety of industrial applications, such as tires, wires, and cables. Because of its increasing use in the inks and coatings and plastic industries, the specialty grade segment is expected to grow at a rapid pace. For example, approximately 90% of total market demand is for standard grade, and thus the segment is poised to provide high absolute $ opportunity over the forecast period.

By Form Outlook

  • Aqueous Dispersions
  • Pastes
  • Chips
  • Plastic Master batches
  • Rubber Master batches
  • Oil Pellets

The aqueous dispersions segment is expected to grow at a much faster rate over the forecast period. Many industrial applications that require suspension or dispersion in an aqueous medium can benefit from aqueous dispersions. It is frequently used as a pigment in the manufacture of black paper or paper-like materials.

By Pigment Source

  • Ivory Black
  • Vine Black
  • Lamp Black

Charring bones or ivory was used to create ivory black. The vine and lamp black pigments are made by charring dried grape stems and oil lamp soot, respectively.

By Functions

  • Reinforcement
  • Coloring (Pigmentation)
  • Conductivity
  • UV Protection
  • Others 

Read Full Report-> https://exactitudeconsultancy.com/reports/11727/black-carbon-market/#report-details

Regional Insights: China to Dominate the Market in the Asia-Pacific Region

Asia Pacific will be worth USD 7.30 billion in 2021. is in charge of the global black market for carbon. China has the world's largest capacity and production of Carbon Black.

In 2021, China produced nearly 5.8 million metric tonnes of Carbon Black, accounting for nearly 35% of the world's total production capacity. China is the world's largest exporter of Carbon Black. Two more Carbon Black feedstocks are slurry oil and ethylene tar. The primary Carbon Black feedstock is coal tar.

China is estimated to drive more than 60% of East Asian demand. Furthermore, China accounts for more than 40% of global Carbon Black production, which can be attributed to the availability of low-cost feedstock as well as low wage rates, resulting in lower production rates.

The penetration of electric vehicles in the automotive sector will be a major driving force for Carbon Black consumption in Germany. Furthermore, a recent government announcement on infrastructure and housing projects has given the paints and coatings industry a positive outlook, propelling the use of this chemical.

After China, the United States is expected to be the second-most profitable market for Carbon Black consumption. Consumer demand for high-quality and premium materials in their vehicles will play a significant role in driving up consumption.

Furthermore, due to the concentration of some major players in the region, North America is well established. As a result, the country is expected to generate a high absolute dollar opportunity worth US$ 100 million.

Carbon Black Market Key Players

The global Carbon Black market is highly fragmented, and key companies are increasing their R&D investments. Major companies operating in the market include CABOT, Mitsubishi Chemical Corporation, Orion Engineered Carbons S.A., Phillips Carbon Black Limited, Tokai Carbon Co., Ltd., Birla Carbon Public Co. Ltd., Continental Carbon Company, Himadri Chemicals & Industries Ltd., JSC, Asahi Carbon Co. Ltd, Cabot Corporation, Omsk Carbon Group, OCI COMPANY Ltd, Longxing Chemical Industry Co, BASF

  • On 1 March 2022, Cabot Corporation completed the acquisition of Tokai Carbon (Tianjin) Co., Ltd Carbon Black Plant in China. The acquisition will expand Cabot's manufacturing capacity to support the growth of battery materials, while serving existing customers. The plant can produce up to 50,000 metric tons of product annually.
  • On 21 July 2021, BASF, the leading global materials company, was selected by the Cell force Group, a joint venture between Porsche and Custom cells, to develop company's next-generation lithium-ion battery. BASF will provide high-energy HED NCM cathode active materials to produce high-performance and high-energy density batteries as part of the collaboration.
  • October 2021: Cabot Corporation launched VULCAN 3-LP Carbon Black, a new low Polycyclic Aromatic Hydrocarbon (PAH) product for rubber applications. This launch will help the company demonstrate its ongoing commitment to providing innovative solutions in response to the product performance needs of its customers.
  • June 2021: Orion Engineered Carbons S.A. launched ECORAX Nature, a new renewable Carbon Black product for rubber applications. This product is produced using plant-based oils of industrial-grade that are non-fossil derived and renewable.

Get Discount on Carbon Black Market Report-> https://exactitudeconsultancy.com/reports/11727/black-carbon-market/#inquire-for-discount

FAQ

  1. What is the growth rate of Carbon Black Market?
  2. What are the major drivers influencing the growth of the Carbon Black market?
  3. What is the biggest application area of Carbon Black?
  4. Who are manufactures of the Carbon Black across the world?
  5. Which is the leading type segment in the market?
  6. Which country held the highest market share in the market?
  7. Which region dominate the market?
  8. Which are the segments covered in report?
  9. Which factors are expected to drive the adoption of the product?

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Irfan Tamboli (Head of Sales) - Exactitudeconsultancy
                    Phone: + 1704 266 3234 
                    sales@exactitudeconsultancy.com
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