Global carbon black market
Dublin, May 3, 2024 (GLOBE NEWSWIRE) — The report “Global Carbon Black Market Outlook, 2029” has been added to The Offer.
The global carbon black market is expected to grow from USD 19.93 billion in 2023 to over USD 28 billion by 2029. The market is expected to grow at a CAGR of 5.99% until 2024-2029.
The tire industry is the largest consumer of carbon black, using it as a reinforcing agent to improve the durability, strength and overall performance of tires. With the global expansion of the automotive sector, the demand for carbon black in tire manufacturing is increasing. Carbon black is an important additive in the plastics and polymers industry, adding color, UV stability and conductivity to various products.
The increasing use of plastics in packaging, automotive components and consumer goods is driving demand for carbon black in this sector. Ongoing research has led to the development of specialty carbon black with unique properties tailored to specific applications in electronics, batteries and high-performance coatings. Specialty carbon black is contributing to advances in energy storage, electronics and other cutting-edge technologies. Environmental regulations and sustainability initiatives are driving industry to adopt cleaner production methods and explore alternative raw materials.
Companies are investing in technologies that reduce emissions and environmental impacts during the carbon black manufacturing process. As industrialization and urbanization progress in emerging markets, demand for carbon black is expected to increase, particularly in the construction, infrastructure and manufacturing sectors.
The carbon black industry will play a critical role in the development of energy storage technologies. Carbon black is increasingly used in electrodes for batteries and supercapacitors, contributing to advances in renewable energy storage. The industry is exploring ways to use recycled carbon black and contributing to the circular economy by reusing post-consumer materials from tires and other sources.
Market drivers
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Growth of the automotive industry: The strong expansion of the automotive industry is a major driver of the global carbon black market. Carbon black is used extensively in tire manufacturing to strengthen and improve the mechanical properties of tires. As the demand for cars continues to rise globally, especially in emerging markets, the need for high-quality tires containing carbon black is also increasing. In addition, the development of electric vehicles (EVs) and advances in tire technology are contributing to a continued demand for carbon black.
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Increasing demand for plastics and polymers: The increasing use of plastics and polymers in various industries including packaging, construction and consumer goods is a major driver for the carbon black market. Carbon black is an important additive in plastics that imparts UV resistance, color and conductivity. With the increasing consumption of plastic products worldwide, the demand for carbon black as a key component in plastic formulations is increasing. In addition, the development of specialty carbon blacks tailored for specific polymer applications is contributing to the market growth.
Market challenges
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Environmental concerns and regulatory pressure: Strict environmental regulations and a growing awareness of sustainability are posing challenges for the industry. The traditional production process of carbon black involves carbon-intensive methods, raising concerns about greenhouse gas emissions. Companies in the carbon black market are being forced to invest in cleaner production technologies, adopt sustainable practices and explore alternative raw materials. Balancing environmental responsibility and cost efficiency is becoming a key challenge for the industry.
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Volatility of commodity prices: The carbon black industry is sensitive to the prices of its raw materials, especially crude oil and natural gas. Fluctuations in these raw material prices can affect production costs and thus the price of carbon black. Volatility in raw material prices can lead to uncertainty in production planning and affect the profit margins of carbon black producers. Companies must implement effective risk management strategies to manage these fluctuations.
Market trends
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Increasing popularity of special soot: There is a growing trend towards the development and use of specialty carbon blacks with unique properties. These specialty grades are suitable for specific applications in high-performance coatings, electronics and advanced materials. The increasing demand for specialty carbon blacks reflects the market’s evolution towards more customized and higher-value products. This trend meets the needs of industries looking for advanced materials for different applications.
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Integration of sustainable practices: Sustainability is a major trend in the carbon black market. Companies are increasingly focusing on environmentally friendly production processes, recycling initiatives and circular economy practices. Incorporating sustainable practices not only addresses environmental concerns but also meets consumer preferences for environmentally friendly products. Companies that adopt sustainable approaches gain a competitive advantage in the market.
Main features:
Report Attribute |
Details |
Number of pages |
160 |
Forecast period |
2023 – 2029 |
Estimated market value (USD) in 2023 |
19.93 billion US dollars |
Projected market value (USD) until 2029 |
28 billion US dollars |
Average annual growth rate |
5.9% |
Regions covered |
Generally |
Competitive environment
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Competition Dashboard
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Business strategies adopted by key players
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Insights and analysis of market shares of major players, 2022
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Market positioning matrix of the main players
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Porter’s Five Forces
Company profiles
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Cabot Corporation
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Mitsubishi Chemical Corporation
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Orion SA
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Imerys SA
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Tokai Carbon Co., Ltd.
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Denka Company Limited
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Phillips Carbon Black Limited
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Saudi Basic Industries Corporation
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Himadri Specialty Chemicals Limited
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The Aditya Birla Group
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Omsk Carbon Group
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Lanxess AG
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OCI Company Ltd
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Asahi Kasei Corporation
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Epsilon Carbon Private Limited
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The Dow Chemical Company
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Balkrishna Industries Limited
By type
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Oven Black
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Channel Black
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Thermal Black
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Acetylene black
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Lamp Black
By class
After application
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Tires
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Non-tire rubber
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Inks and toners
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Plastics
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Others (lithium-ion batteries, graphite production, construction and metallurgy)
For more information about this report visit https://www.researchandmarkets.com/r/csjkj0
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