Carbon black Market Overview
The Carbon black Market size was valued at USD 23.48 Bn. in 2023 and the total Global Carbon black revenue is expected to grow at a CAGR of 5.1% from 2024 to 2030, reaching nearly USD 33.04 Bn. by 2030.
Carbon black is a versatile industrial material primarily composed of fine particles of elemental carbon, produced through the incomplete combustion of hydrocarbons. It finds extensive use across various industries due to its unique properties and applications. The report provides a comprehensive analysis of the market trends, challenges, and opportunities, with a focus on key segments and regional dynamics. The global carbon black Industry has shown consistent growth, driven by growing industrialization, infrastructure development, and increased automotive production worldwide. Primary demand comes from the tire manufacturing sector, where carbon black enhances durability and performance. Growth in plastics, coatings, and electronics sectors also contributes significantly. Furnace black dominates the Carbon black market due to its versatile applications and cost-effectiveness.
Carbon black Market Report Scope and Research Methodology
The automotive industry has seen significant growth from 2018 to 2023, especially in emerging economies such as China, India, and Southeast Asia. The growth is driven by rising income levels, urbanization, and increased mobility needs. The surge in vehicle production directly impacts tire manufacturing, as every new vehicle requires a set of tires. Carbon black is an essential component in tire manufacturing, accounting for about 30% of the tire’s weight. It enhances the tire’s strength, durability, and resistance to wear and tear. The growth in automotive and tire production has led to a proportional increase in the demand for carbon black.
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Carbon black Market Regional Insights
The Asia-Pacific region held a significant share of the global carbon black market in 2023, driven by rapid industrialization, urbanization, and the robust growth of the automotive and manufacturing sectors. The region’s dominance is primarily due to the substantial demand for carbon black in tire manufacturing, which is encouraged by the growing automotive industry in countries like China and India. Major players like Birla Carbon and Cabot Corporation have expanded production capacities in the Asia-Pacific region to meet the growing demand for carbon black. For example, Birla Carbon announced an expansion of its production facility in India in 2021.
Carbon black Market Segmentation
By Type, Furnace Black is the most dominant segment in the carbon black market. Furnace black is produced by the incomplete combustion of hydrocarbons like coal tar, petroleum, and natural gas. The process involves pre-heating the hydrocarbon feedstock, which is then introduced into a reaction furnace for partial combustion with limited air or oxygen. The resulting carbon black particles are rapidly cooled (quenched) to halt combustion and control particle size. Finally, the carbon black is pelletized for easier handling and transportation.
Carbon black Market Key Players
Phillips Carbon Black Limited
Mitsubishi Chemical Corporation
Jiangxi Black Cat Carbon Black Inc.
OCI Company Ltd.
Longxing Chemical Group
China Synthetic Rubber Corporation
Himadri Specialty Chemicals Ltd.
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Key questions answered in the Carbon black Market are:
- What is Carbon black ?
- What was the Carbon black market size in 2023?
- What is the growth rate of the Carbon black Market?
- Which are the factors expected to drive the Carbon black market growth?
- What are the different segments of the Carbon black Market?
- What growth strategies are the players considering to increase their presence in Carbon black ?
- What are the upcoming industry applications and trends for the Carbon black Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Carbon black Market?
- What segments are covered in the Carbon black Market?
- Who are the leading companies and what are their portfolios in Carbon black Market?
- What segments are covered in the Carbon black Market?
- Who are the key players in the Carbon black market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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