In 2023, it is estimated that the carbon black market will be worth US$ 13,849.6 million. By 2033, the market is anticipated to reach US$ 22,133.52 million.
Due to the rising demand for carbon black in the construction and automotive industries, the market for this material is expanding significantly on a global scale. The demand for carbon black has also been boosted by its expanding use in the manufacture of consumer products, electronics, and tires. Additionally, carbon black is widely utilized as a pigment in the production of paints and coatings. The extensive market expansion of carbon black is a result of its increasing use across numerous sectors.
The rubber sector is the key market contributor to the worldwide carbon black market. This substance functions as a filler in tires, enhancing their physical properties and giving them more strength.
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Pharmaceuticals are purified using activated carbon black, which is also utilized in the production of medical equipment. The expanding activated carbon black market is projected as a result of the increased demand for medicines and medical supplies.
The growing rubber industry is projected to increase demand for carbon black on a worldwide scale. It finds use in a variety of sectors, including the construction and automotive industries.
Manufacturers of carbon black experience further expansion due to the expanding paints and coatings sector, which is being driven by industrialization. By taking into account these factors, it is predicted that the worldwide market for carbon black is likely to grow by about 23 million tonnes by 2033.
Key Takeaways
- By 2033, the carbon black market in the United Kingdom is likely to expand, with a CAGR of 7.9%.
- The United States, being a leading market for automobiles, contributes significantly to the demand for carbon black.
- The carbon black market was significantly expanding, with a size of US$ 13,215.8 million in 2022.
- In 2021, the carbon black capacity was 7 million metric tonnes in China.
- In China, primary carbon black feedstock yearly capacity reaches roughly 7.5 million metric tonnes.
- The market is expected to grow at a US$ 15,941.2 million valuations by 2026, with the rising adoption of carbon black in multiple industries.
- Based on type, the furnace black segment dominates the market and is expected to control the market by 2033 in terms of application.
- Based on the grade, the standard grade segment is likely to dominate the market by 2033.
- Based on application, the tire category is anticipated to dominate the market by 2033.
Effective Approaches by Key Players
The carbon black industry is very competitive, with small-scale businesses controlling the entire market. The market is seeing massive capital expansions as businesses compete for future market share. The actions taken by companies like Continental Carbon and Birla Carbon demonstrate that the sector is expected to grow faster.
Key Players
- Cabot Corporation
- Birla Carbon
- Orion Engineered Carbons
- Phillips Carbon Black
- Tokai Carbon
- Sid Richardson Carbon & Energy Co.
- China Synthetic Rubber Corporation
- Longxing Chemical Stock Co. Ltd.
- OMSK Carbon Group
- OCI Company Ltd.
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Key segments
By Type:
- Furnace Black
- Channel Black
- Thermal Black
- Acetylene Black
- Others
By Grade:
- Standard Grade
- Specialty Grade
By Application:
- Tire
- Non-Tire Rubber
- Inks Coatings
- Plastics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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