Carbon Black Market will increase at 4.5% CAGR between 2022 and 2030

Carbon black is a material produced by the incomplete combustion of petroleum products such as ethylene cracking tar or coal tar. Carbon Black Market is projected to be worth USD 17,231.4 Million by 2027, registering a CAGR of 4.5% during the forecast period (2020–2027).

Competition Outlook

ChemChina, OCI COMPANY Ltd., Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Orion Engineered Carbons, Jiangxi Black Cat Carbon Black Inc., Ltd., Himadri Speciality Chemical Ltd., Suzhou Baohua Carbon Black Co., Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., NIPPON STEEL SUMIKIN CHEMICAL CO., LTD., Sid Richardson Carbon and Energy Co. Ltd., Mitsubishi Chemical Corporation, Shandong Huadong Rubber Materials Co., Ltd., Kremenchuk Carbon Black Plant, Cabot Corporation, and JINNENG are key players of the global carbon black market.

Market Scope

The burgeoning transportation and construction sectors in the economies of China, India, and Brazil can induce the demand for carbon black. The scope for the material in tire manufacturing paints coatings, and plastics is expected to drive the market growth. The automotive aftermarket and construction sectors are likely to boost the market demand. Investments in tire-making and rubber-manufacturing factories can facilitate market growth.

The COVID-19 pandemic can lead to fluctuation in market estimations. The carbon black market is expected to exhibit a CAGR of 2.40% after 2019 and during the forecast period. The halt of production of Chinese coal tar can impact production and cause a delay in production.

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But alternatives to carbon black such as wet silica can threaten the market growth.

Segmentation

The global carbon black market is segmented by type, function, and end-use.

By function, it is divided into reinforcement and pigments.

End uses of carbon black comprise paints coatings, plastics, tires, non-tire, inks, and others. The tire segment can lead the global market owing to the growth of the transportation sector and the growing trade exchange between countries.

Regional Analysis

Regionally, the global carbon black market covers trends and opportunities across North America, Europe, Asia Pacific (APAC), Middle East Africa (MEA), and Latin America.

APAC held the largest market share due to production companies of carbon black Competitive Intelligence and Strategy in Japan, South Korea, China, and India. The regional carbon black market value can touch USD 17,231.4 million by 2030. Rapid urbanization and changes in policies can give the local industry the necessary kickstart and induce demand for the chemical.

North America is projected to assume the second-largest market for carbon black owing to new companies entering the automotive and aerospace sectors. Huge demand for abrasion-resistant materials in rubber and packaging sectors can bode well for the global market till 2023.

Related report — 

1. Carbon Black Market https://www.etimeweekly.com/2023/01/16/carbon-black-market-revenue-status-sales-and-segmentation-analysis-2030/
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