Carbon Black Market: Current Trends, Business Opportunities, Challenges & Industry Analysis by 2030

 

Carbon Black Industry Overview

The global carbon black market size was valued at USD 22.35 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2030.

Rising product usage in the production of plastics is anticipated to drive growth. Moreover, the rising usage of these plastics in electrical and electronic components will boost product demand. It is produced either by thermal decomposition or partial combustion method, which includes oil or natural gas as a feedstock. It is produced by four different processes, which are the furnace black process, channel process, acetylene black process, and Lampblack process.

Gather more insights about the market drivers, restrains and growth of the Carbon Black Market

Growing environmental concerns coupled with the developing automotive industry is expected to drive the growth of the U.S. market. The refurbishing trend has resulted in increased demand for high-performance coatings in automotive as well as other industries, such as marine, aerospace, and industrial.

The product helps improve the strength and longevity of tires by providing better abrasion resistance and tensile strength. Also, growing construction and manufacturing sectors utilizing industrial rubber and equipment are anticipated to positively impact the demand over the forecast period.

Carbon black market prices are mainly based on raw materials, auxiliary materials, and utilities. The crude oil price fluctuation has a major impact on the pricing of carbon black. Some other macro-level factors influencing the price include working capital and pre-operational costs. The installation and setup, capitalized interests, project engineering and management, and commissioning costs are included under the pre-occupational costs.

Carbon black is formed by incomplete combustion of different petroleum-based constituents. It is an essential component for a range of end-use applications such as consumer goods, automobiles, appliances, electronics, and others. Since it is a petroleum-derived product the manufacturers rely on sourcing their key raw materials at the right prices with no supply hindrance. Raw materials are critically selected by the manufacturers depending on their product quality, offering price, product portfolio holding, and market accessibility.

Browse through Grand View Research's Petrochemicals Industry Research Reports.

• The global diesel exhaust fluid market size was valued at USD 36.66 billion in 2023 and is projected to grow at a CAGR of 7.9% from 2024 to 2030.

• The global bromobenzene market size was estimated at USD 1,228.8 million in 2023 and is projected to grow at a CAGR of 4.7% from 2024 to 2030.

Global Carbon Black Market Report Segmentation

This report forecasts revenue and volume growth at the global, regional, and country levels and provides a carbon black market analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global carbon black market report based on type, application, grade, and region:

Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·         Furnace Black

·         Channel Black

·         Thermal Black

·         Acetylene Black

·         Others

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·         Tire

·         Non- tire Rubber

·         Plastics

·         Inks & Coatings

·         Others

Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

·         Standard Grade

·         Specialty Grade

Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

·         North America

o    US

o    Canada

o    Mexico

·         Europe

o    Germany

o    UK

o    France

o    Italy

o    Spain

o    Russia

·         Asia Pacific

o    China

o    Japan

o    India

o    Indonesia

o    Malaysia

o    Thailand

·         Central & South America

o    Brazil

o    Argentina

·         Middle East & Africa

o    Saudi Arabia

o    South Africa

Key Companies & Market Share Insights

Key companies are adopting several organic and inorganic growth strategies, such as capacity expansion, mergers & acquisitions, and joint ventures, to maintain and expand their market share.

In June 2023, Bridgestone Corporation announced the commencement of the development of tire-derived oil and recovered carbon black via pyrolysis of worn tires with the help of test units established at the Bridgestone Innovation Park in Tokyo. This is aimed at encouraging the social deployment of chemical recycling technologies that allow the efficient pyrolysis of worn tires.

In April 2023, Orion Engineered Carbons announced the implementation of its new cogeneration technology producing renewable energy in its Ivanhoe plant (Louisiana, U.S.). The system comprises a steam turbine generator, which ingests the waste steam from the production process of the carbon black plant and alters it to electricity.

In March 2023, Tokai Carbon Co., Ltd. entered into a strategic partnership with Sekisui Chemical Co., Ltd., for the real-world application of the Carbon Capture and Utilization (CCU) technology. This deal was aimed at manufacturing varied carbon products and materials for the capture and storage of carbon dioxide (CO2) as solid carbon.

Key Carbon Black Companies:

·         Orion Engineered Carbons Holdings GmbH

·         OMSK Carbon Group

·         Sid Richardson Carbon & Energy Co.

·         Tokai Carbon Co. Ltd.

·         Asahi Carbon Co. Ltd.

·         Ralson Goodluck Carbon

·         Atlas Organic Pvt. Ltd.

·         Continental Carbon Co.

·         OCI Company Ltd.

·         Birla Carbon

·         Bridgestone Corp.

·         Cabot Corp.

·         China Synthetic Rubber Corporation (CSRC)

·         Himadri Companies & Industries Ltd. (HCIL)

·         Mitsubishi Chemicals

·         Nippon Steel & Sumikin Chemical Co. Ltd.

·         Jiangxi Black Cat Carbon Black Inc.

Order a free sample PDF of the Carbon Black Market Intelligence Study, published by Grand View Research.

 

 

Comments

Post a Comment

Popular posts from this blog

Industry Outlook of Fuel Cell Market 2023 Trends to 2030

  Fuel Cell Industry Overview The global fuel cell market size was estimated at USD 7.35 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 27.1% from 2024 to 2030. Increasing demand for unconventional energy sources is one of the key factors driving the growth. Growing private-public partnerships and reduced environmental impact are expected to propel the demand. Governments across the globe are anticipated to supplement the developments by offering support in different forms, including funding R&D activities and funding suitable financing programs. Building a robust regulatory framework is vital as government enterprises need to provide an environment that is favorable for investment. Gather more insights about the market drivers, restrains and growth of the  Fuel Cell Market Most of the U.S. states, such as California and New York, have set mandates to limit the carbon emissions from commercial and industrial end users in the countr...
Read more

Sports Analytics Market Growing Stupendously

  Sports Analytics Industry Overview The global sports analytics market size was estimated to be USD 3.52 billion in 2023 and is projected to grow at a CAGR of 21.5% from 2024 to 2030. The market growth can be attributed to the growing significance of analytics solutions for analyzing team performance, tracking individual players, monitoring injuries, and optimizing training programs. The market is further expanding due to the increasing number of sports leagues as well as national and international sports events across the globe. Gather more insights about the market drivers, restrains and growth of the  Sports Analytics Market The proliferation of wearable technology and sensors has enabled the real-time tracking of athletes, providing a large volume of data on their movements, physiological metrics, and overall performance. This granular information not only aids coaches and sports scientists in optimizing training regimens but also assists teams in making informed de...
Read more

New Tools and Technology Development will drive Private 5G Network Market in coming years

  Private 5G Network Industry Overview The global private 5G network market size was estimated at USD 2.00 billion in 2023 and is expected to grow at a CAGR of 54.1% from 2024 to 2030. Private 5G networks offer businesses and governments dedicated, secure, and high-performance connectivity. This allows them to connect to more devices, improve automation, and deliver better customer experiences. These benefits are driving the adoption of private 5G networks in various industries, including smart cities that rely on private 5G for applications such as traffic management and security, among others. Gather more insights about the market drivers, restrains and growth of the Private 5G Network Market Cellular technology, in the form of private 5G networks, is being used by businesses, organizations, and local governments across various industries. These industries include manufacturing, utilities, transportation, logistics, retail, agriculture, and those involved in smart city in...
Read more