Carbon Black Market Size Expected to Reach USD 34.83 Billion by 2033

The global carbon black market size is estimated at USD 20.62 billion in 2024 and is expected to reach around USD 34.83 billion by 2033, registering a solid CAGR of 6% from 2024 to 2033.

/EIN News/ -- Ottawa, July 05, 2024 (GLOBE NEWSWIRE) -- The global carbon black market size is predicted to increase from USD 19.45 billion in 2023 to approximately USD 34.83 billion by 2033, According to Precedence Research. The carbon black market is driven by the increasing usage of black carbon in different sectors and R&D projects.

The carbon black market encompasses the global industry involved in the production, distribution, and utilization of carbon black, a fine black powder composed of elemental carbon. The incomplete burning of coal tar, vegetable matter, or petroleum products results in carbon black production. It is a kind of Para crystalline carbon characterized by a low concentration of polycyclic aromatic hydrocarbons (PAHs) and a high surface-area-to-volume ratio.

Paints, ink pigments, polymers, tires, and reinforcing fillers are all made from carbon black. It is also used as a food coloring. Cars, inks, coatings, polymers, and electronics all include carbon black. In addition, it finds application in resins and films, photocopiers, laser printer toners, and radar-absorbent materials.

The Full Study is Readily Available | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/2785

Carbon Black Market Key Insights

• Asia Pacific dominated the market with the largest revenue share of 63.64% in 2023.
• By type, the furnace black segment has captured more than 44% of the revenue share in 2023.
• By grade, the standard grade segment has held the maximum revenue share in 2023.
• By application, the tires segment has generated more than 69% revenue share in 2023.

Asia Pacific Carbon Black Market Size and Forecast

The Asia Pacific carbon black market size was valued at USD 12.38 billion in 2023 and is expected to surpass around USD 22.64 billion by 2033, at a CAGR of 6.2% from 2024 to 2033.

Asia Pacific dominated the carbon black market in 2023. In the Asia-Pacific market, carbon black is becoming more popular because of its advantages in heat dissipation, handling, tread wear, fuel efficiency, and abrasion resistance. In the rubber industry, it serves as a filler to enhance intermolecular forces and provide reinforcing effects. Because of the growing demand from the automobile industry, China is the world's largest user of carbon black, with tires making up most of the applications.

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

China's coatings industry is expanding quickly as well, and the country's building, automotive, and industrial sectors are probably going to fuel this growth. Throughout the projection period, this is anticipated to increase demand for carbon black.

• For instance, in November 2023, Specialty chemicals manufacturer Orion finished building its first carbon black factory in eastern China to meet the rising demand in Asia. Carbon black will be produced at the factory in Huaibei, Anhui province, for use in rubber, polymers, coatings, printing inks, fiber, and rubber, among other products. The facility can produce 70 kilotons annually in total. The current Orion facility in Qingdao, Shandong, manufactures carbon black grades for specialist applications, mechanical rubber products, and tires.
  

North America is observed to grow at the fastest rate. Companies in North America are investing in technological advancements in Carbon Black production, focusing on enhancing efficiency, reducing environmental impact, and developing specialty grades tailored to specific applications. There's a growing emphasis on sustainable practices and environmental regulations in North America.

Carbon Black manufacturers are adapting by investing in cleaner production technologies and sustainable sourcing of raw materials, which enhances market competitiveness. The region's economic growth and increasing consumer demand for products requiring Carbon Black, such as tires, packaging materials, and automotive components, contribute to market expansion.

Customize this study as per your requirement@ https://www.precedenceresearch.com/customization/2785

Scope of Carbon Black Market

Report Attribute	Key Statistics
Carbon Black Market Size by 2033	USD 34.83 Billion
Carbon Black Market Size in 2024	USD 20.62 Billion
Carbon Black Market Size in 2023	USD 19.45 Billion
Growth Rate from 2024 to 2033	CAGR of 6%
Base Year	2023
Historical Year	2021-2022
Forecast Year	2024-2033
Segments Covered	By Type, By Grade, and By Application
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

Carbon Black Market Segments Outlook:

Type Outlook

The furnace black segment dominated the carbon black market in 2023. Because of its excellent qualities and advantages over other materials, furnace carbon black, a sustainable substance, is becoming more and more popular in sectors like electronics, construction, and the automobile industry.

The quality and consistency of furnace carbon black products are increasing due to technological and process advancements, which are driving market development. Creative applications are also driving growth and creating new avenues for industry participants, particularly in the energy sector.

Grade Outlook

The standard segment dominated the carbon black market in 2023. Surface area, structural shape, and oxygen content of carbon black are among the properties that are influenced by variables such as materials, reaction temperature, and combustion circumstances. These grades are used in various applications and industries to satisfy performance requirements.

High structural grades improve the strength and tensile qualities of polymers, whereas high wear-resistant grades are employed in rubber goods. Additionally, the conductivity characteristics, coloring effects, and UV protection effects of different grades vary. Standard-grade carbon was the most popular on the underground market due to its extensive usage in tires, wires, and cables. The market for specialized grades is expected to rise due to their growing use in the plastic, ink, and coatings industries.

Application Outlook

The tires segment dominated the carbon black market in 2023. An essential ingredient in tire production, carbon black improves traction, grip, wear resistance, and anti-aging qualities. By increasing service life, preventing UV rays, and creating a robust support network, its use can maximize tire performance. Granular carbon black offers strong filling performance and surface roughness, establishing tighter contact with the road surface, which enhances tire traction and grip. This improves friction and dependability, which makes the car more dependable on slick or uneven surfaces.

In addition to lowering rolling resistance and energy loss, properly applied carbon black may increase tire fuel efficiency and enhance driving stability. Additionally, it improves fuel efficiency, driving stability, and anti-side slide performance. Thus, choosing the appropriate type of carbon black is essential to maximize tire performance.

Browse More Insights:

• Powder Coating Market Size and Forecast: The global powder coating market size was valued at USD 15.53 billion in 2023 and it is projected to be worth around USD 25.4 billion by 2032, expected to register a growth at a CAGR of around 5.62% during the forecast period 2023 to 2032.
  
• Optical Coatings Market Size and Forecast: The global optical coatings market was valued at USD 20.41 billion in 2023 and it is expected to reach around USD 44.07 billion by 2033, with at a compound annual growth rate (CAGR) of 8% during the forecast period 2024 to 2033.
  
• Conformal Coatings Market Size and Forecast: The global conformal coatings market size reached USD 968.97 million in 2022, and it is expected to be worth around USD 1,810.31 million by 2032, growing at a CAGR of 6.5% during the forecast period from 2023 to 2032.
  
• Advanced Ceramics Market Size and Forecast: The global advanced ceramics market was valued at US$ 59.09 billion in 2022 and is anticipated to reach USD 95.79 billion by 2032, with a compound annual growth rate (CAGR) of 5% during the estimated period 2023 to 2032.
  
• Plastics Market Size and Forecast: The global plastics market size was valued at USD 624.84 billion in 2023 and is anticipated to reach around USD 943.76 billion by 2033, growing at a CAGR of 4.21% from 2024 to 2033.
  
• Antimicrobial Plastics Market Size and Forecast: The global antimicrobial plastics market size was estimated at USD 54 billion in 2023 and it is expected to hit USD 116.58 billion by 2033 with a registered CAGR of 8% during the forecast period 2024 to 2033.
  
• Off-road Tires Market Size and Forecast: The global off-road tires market was valued at US$ 430 billion in 2022 and is expected to reach over US$ 907.04 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 7.80% from 2023 to 2032.
  
• Airless Tires Market Size and Forecast: The global airless tires market size was reached at USD 54 million in 2022 and is expected to reach over USD 97.16 million by 2032 with a registered CAGR of 6.10% from 2023 to 2032.
  
• Tire Recycling Market Size and Forecast: The global tire recycling market size was estimated at USD 5.67 billion in 2023 and is projected to hit around USD 7.71 billion by 2033, registering a CAGR of 3.16% during the forecast period from 2024 to 2033.
  

Carbon Black Market Dynamics

Driver: Diverse application of black carbon

A key driver of the carbon black market is the diverse application of carbon black in different sectors. Products containing carbon black are essential in several sectors, including electronics, printing and packaging, polymer improvement, environmental solutions, automotive, and paints and coatings. They improve the lifespan, strength, and resilience of polymers, increasing their resistance to deterioration. By efficiently absorbing impurities and contaminants in energy storage and air purification systems, carbon black also helps to solve environmental problems.

It is a potential material for supercapacitors and batteries in renewable energy storage systems because of its conductive qualities. Carbon black is used in the automobile industry to increase tire composition, heat resistance, and strength, resulting in tires that are more resilient and safer. By converting insulating materials into conductive compounds, carbon black improves electrical conductivity in electronics.

Restraint: Health concerns

Carbon black is a common ingredient in beauty products such as eye shadow, mascara, nail polish, lipstick, liner, and lubrication. It includes organic pollutants such as polycyclic aromatic hydrocarbons, which have been linked to cancer in humans. In addition to damaging DNA, PAHs can result in skin, bladder, and lung cancers. They may also result in developmental and reproductive damage, which are non-cancer toxicities. Foods and drinks, skin or eye contact, and inhalation can all expose one to carbon black.

Cancer, lymphatic cancer, lung inflammation, skin cancer, fibrosis, and lung tumors in rats are among the health issues. Long-term exposure to carbon black may also raise the risk of respiratory disorders, eye exposure, and lung illness. According to preliminary studies, carbon black may make cardiovascular disease more common.

Opportunity: Recovered carbon black

A versatile material recovered, carbon black finds usage in many industrial rubber applications, such as tire tubes, conveyor belts, molded components, rubber sheets, inner liners, and extruded profiles, raising the opportunities for the growth of the carbon black market.

In addition, it may be utilized in batteries, rubber production, textiles, filtration systems, extruded plastics, and textiles. Recovered carbon black promotes carbon emissions reduction and helps avoid natural resources such as coal tar, feedstock oil, and ethylene. For a variety of rubber and plastic applications, it offers an affordable and ecological substitute.

Key Carbon Black Market Leaders

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

Recent Developments:

• In May 2024, In Bhuj, Gujarat, Balkrishna Tyres (BKT) intends to begin producing its 30,000 MTPA advanced carbon black capacity in the first half of the fiscal year. By the conclusion of the fiscal year, the company's income from carbon black is predicted to increase to 8–9% due to demand from clients in industries including paints, plastics, and inks.
  
• In May 2024, to enhance the output of tire pyrolysis oil and recovered carbon black, Orion SA made an investment in the French tire recycling company Alpha Carbone. Orion plans to utilize the oil to produce circular carbon black for rubber products and tire manufacturers, thus solidifying its status as a leader in the circular economy.
  
• In April 2024, Himadri Speciality Chemical Ltd is to invest an estimated Rs 220 crores to increase the capacity of its specialty carbon black in West Bengal. The development is anticipated to satisfy demand in Europe, considering the EU's upcoming ban on Russian carbon black imports. The project will be financed by internal accruals and is expected to be operational in 18 months.
  
• In February 2024, With the goal of transforming carbon black and fine carbon units into a higher value-added company, Tokai Carbon intends to invest Yen57 billion over the course of three years to expand its carbon black business. To infuse Yen146 billion into operations, including Yen4 billion for carbon neutrality, Yen4 billion for environmental concerns, and Yen49 billion for plant improvements, the investment will be a component of Tokai's T-2026 mid-term management plan.

Carbon Black Market Segmentation

By Type

• Channel Black
• Acetylene Black
• Lamp Black
• Furnace Black
  

By Grade

• Standard Grade
• Specialty Grade
  

By Application

• Coatings & Inks
• Plastics
• Non-Tire Rubber
• Tires
• Others
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa
  

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2785

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Unlocking Market Insights through Data Excellence 

The "Precedence Statistics" flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today's dynamic and data-driven world. 

To Access our Premium Real-Time Data Intelligence Tool, Visit: http://www.precedencestatistics.com

About Us

Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Web: https://www.precedenceresearch.com

Our Blogs:

https://www.towardshealthcare.com

https://www.towardspackaging.com

https://www.towardsautomotive.com

For Latest Update Follow Us:

LinkedIn | Facebook | Twitter