Plans for development and growth: Exploding Carbon Black Market

Carbon black is a preferred option for conductive additives, which supports the market price of carbon black. By covering the active material particles and filling the interstitial space in the electrode. The use of carbon black greatly improves the kinetics of the absorption and intercalation processes of the cathode and anode. The demand for high-performance lithium-ion batteries is increasing due to the growing use of electric vehicles. Which is causing an increase in the use of carbon black as a conductive additive, which is helping to drive up the price of carbon black.

In 2021, the market value of carbon black was USD 13.45 billion. And by 2030, it will be worth USD 21.85 billion, at a 5.5% CAGR during the forecast period. 

The growth of the industrial and construction sectors is contributing to an increase in the global carbon black market share. Carbon black is used in a number of industrial rubber extruded and moulded items, including grommets, air springs, belts, hoses, gaskets, and various conveyor wheels. The increasing demand for carbon black in various building applications was a major factor in the carbon black price trend for 2022. This was due to increases in uniformity, surface hardness, tensile strength, and compressive strength brought about by using carbon black with cement.

Market Dynamics

Drivers

One of the main drivers promoting the market's expansion is the rising demand for carbon black as a tire filler in the rubber sector due to its improved physical properties, increased strength and longevity, and decreased thermal stress. Also, a positive market outlook is being provided by the increasing use of carbon black in rubber automobile parts. Such as engine mounts, hoses, anti-vibration components, and sealing systems. Also, there is an increase in demand for carbon black due to its ability to shield polymers from UV deterioration, lower the price of polymers, and improve plastic conductivity globally. Furthermore, the market is expanding as a result of this as well as the growing use of carbon black in the plastics industry to make a variety of plastic products such as pipes, films, stretch wraps, photographic containers, and industrial bags.

Restraints

Factors restraining the market growth are the changing prices of raw materials, growing environmental concerns regarding the manufacturing of carbon black, and the growing use of silica as a substitute. 

Opportunity 

The Carbon Black market was the largest in Asia Pacific, Europe, and North America. Overly stringent environmental restrictions could impede business expansion in North America and Europe. The rapidly industrializing, urbanizing, and rising economies of Asia. And the Pacific are driving regional demand for carbon black. Expanding foreign investment and favorable regulatory frameworks are the main drivers of market growth.

Market Segmentation

By Process

On the basis of the process, the market is segmented into lamp black, acetylene black, channel black, and furnace black. 

The black furnace segment was the market leader with a significant revenue share. The market is expanding due to the black furnace process for rubber reinforcing. This technique is also used to make color pigments for cosmetics, and its increased implementation will boost market revenue growth.

By Grade

On the basis of grade, the carbon black market is segmented into standard grade and specialty grade. 

The standard grade segment ruled the entire market with significant revenue share. This is a result of the widespread usage of tires, cables, and other standard-grade rubber-based goods in many industrial applications. The specialized grade segment will experience a significant growth rate. Due to the rising utilization in the plastic, inks, and coatings industries. Over the forecast period, the market will expand even faster due to the increasing demand for lithium-ion batteries.

By Application

On the basis of application, the carbon blacks market is segmented into plastics, coatings, tires, toners, and printing inks.

The tire section accounted for the greatest share of the market. But the plastics category will expand and prosper at the highest CAGR during the forecast period. About 70% of carbon dark's most well-known uses are as a pigment and reinforcement in tires for automobiles. Carbon black's capacity to conduct heat away from the tire's tread and belt region lowers thermal degradation and extends the useful life of tires.

Regional Overview

Asia Pacific was the biggest market, with a 40% revenue share in 2021. The main driver of this region's growth is increase plastic consumption in important end-use industries like automotive, construction, conductive polymers, and packaging. Over the forecast period, an increase in polymer production will continue to be a significant factor in expanding. The regional market, particularly in China, India, and Southeast Asian nations, including South Korea, Thailand, Malaysia, and Vietnam.

Also, the carbon blacks market in North America owned a large share of about 2.51 billion USD in 2021. The predicted increase in demand for goods, including paints and coatings, molded plastics, wires. And cables, is attribute to the U.S. economy's recovery and rising commercial and auto manufacturing activities.

Key Players

• Continental Carbon Company
• Tokai Carbon Co, Ltd.
• Birla Carbon
• Omsk Carbon Group
• Philips Carbon Black Limited 
• Cabot Corporation
• Himadri Speciality Chemical Limited.
• International China Oak Investment Holdings Co., Ltd.
• Atlas Organics Private Limited
• Orion Engineered Carbons GmbH
• Ralson

In 2021, the market value of carbon black was USD 13.45 billion. And by 2030 it will be worth USD 21.85 billion, at a 5.5% CAGR during the forecast period. The market is accelerate by the expanding tire sector, expanding textile and fiber applications, and expanding specialty black market penetration.

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