Carbon black production will increase 1.4-fold amid increasing demand from application industries


The latest report from Fact.MR reveals insights into the prevailing trends and opportunities in the carbon black market. The in-depth study highlights various growth drivers and opportunities affecting demand in key segments including quality, production method and applications.

NEW YORK, October 18, 2021 / PRNewswire / – According to the latest Fact.MR analysis, the global carbon black market has overtaken $ 22 billion in 2020. Demand is expected to increase in response to the increasing adoption of carbon black in the manufacture of conductive polymers and recyclable packaging plastics.

The global carbon black market is set to record healthy growth at 6% CAGR between 2021 and 2031, reaching a valuation of US $ 30 billion by 2031-end.

The increased demand for carbon black is supported by increasing application in printing inks, tires, packaging, plastics, and paints and coatings. The various advantages of carbon black, such as its light weight, high chemical and thermal stability, permanent electrical conductivity, and low cost, make it ideal for adoption in various industries.

It is mainly used as a reinforcing filler in rubber products, especially tires. The adoption of carbon black improves the traction and wear resistance of the tires. It is also widely used in the aerospace industry in elastomers for aircraft vibration control components such as engine mounts.

Further, application in various rubber products where tensile and abrasion wear properties are important will propel the market growth.

With the emphasis on sustainable packaging, the demand for environmentally friendly solutions is on the rise. Therefore, manufacturers continuously focus on developing innovative solutions such as carbon packaging using various technologies. This in turn will have a positive impact on the growth of the market.

Carbon black is also an excellent colorant as a black pigment. Therefore, it is widely used for printing inks, coloring resins, paints and toners. Subsequently, the increasing adoption of carbon black in plastics due to its UV protection and conductive properties will create more growth opportunities for major market players.

According to Fact.MR, the tire segment will remain the largest contributor to the market, accounting for over 70% of total demand. The increase in tire production has resulted in the adoption of the carbon black produced around the world. Therefore, with the increase in vehicle production, the carbon black market is bound to flourish.

At the regional level, East Asia currently dominates the global carbon black market, accounting for about 40% of the revenue share. The growth in the region can be attributed to the rapid production of vehicles, the presence of key manufacturers and the increasing adoption of carbon black products in various applications.

The carbon black market in East Asia should create an absolute opportunity in $ worth US $ 1.9 billion during the forecast period, estimates Fact.MR.

“The creation of new manufacturing facilities, the introduction of new products and the growing trend to use recycled carbon black will continue to drive the growth of the carbon black market over the forecast period,”“, explains Fact.MR analyst.

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Key takeaways from the carbon black market survey

  • China The carbon black market is expected to grow at 7% CAGR between 2021 and 2031, creating an opportunity for further growth of US $ 250 million.
  • The US market is expected to grow at a CAGR of approximately 6.3% during the forecast period.
  • India should provide an additional valuable opportunity 80 million US dollars until 2031 due to the rapid adoption of carbon black in printing inks and vehicle tires.
  • Based on quality, standard grade carbon black will continue to dominate the market due to its various characteristics such as cost effectiveness, durability and high performance.
  • The tire applications segment is expected to grow at a CAGR of 5.8% during the forecast period.

Key factors

  • The increasing application of carbon black in tires and other industrial products is accelerating the growth of the market.
  • The rapid production of plastic products is expected to improve the demand for carbon black with increasing adoption in the manufacturing of plastic products such as pipes and films.
  • Growing preference and use of recycled and biobased carbon black will positively shape market growth
  • The expansion of the electrical and electronics industry will continue to fuel sales of carbon black.

Key restrictions

  • Fluctuations in the prices of carbon black raw materials are likely to limit market growth.
  • Growing environmental concerns about the emission of harmful particles during the production of carbon black are having a negative impact on the entire market.
  • Growing use of silica as an alternative is also expected to hamper carbon black sales

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Competitive landscape

Key companies operating in the carbon black market are focused on expanding their production capacity. They have adopted various organic and inorganic growth strategies such as mergers, acquisitions, partnerships, new product launches and collaborations to gain competitive advantage in the market.

  • In June 2021, Orion Engineered Carbons SA announced the commercial launch of ECORAX Nature, a new family of products developed for rubber applications. ECORAX® Nature 100 is the first grade of highly reinforcing carbon black made from renewable raw materials that can be used in the construction of critical tire treads
  • In August 2021, Black Bear Carbon BV announced long-term supply chain and marketing cooperation with HELM AG. Black Bear will produce carbon black recovered from used tires using its proprietary technology. As part of this cooperation, the partners will jointly present this innovative product to industrial customers.
  • In August 2021, Orion Engineered Carbons SA, a global supplier of specialty and high performance carbon black products, announced the construction of its second plant in China. New facility will enable Orion to meet growing demand for carbon black in the growing industry Asia Pacific Region.

Some of the major players operating in the carbon black market featured by Fact.MR are:

  • POOCH
  • Mitsubishi Chemical Corporation
  • Orion Engineered Carbons SA
  • Phillips Carbon Black Limited
  • Tokai Carbon Co., Ltd.
  • Birla Carbon Public Co. Ltd.
  • Continental Carbon Company
  • Himadri Chemicals & Industries Ltd.
  • JSC
  • Asahi Carbon Co. Ltd.

More information on the outlook for global carbon black sales

Fact.MR provides unbiased analysis of the carbon black market, presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study reveals compelling information on the global demand for carbon black with detailed segmentation on the basis of:

Class

  • Standard grade carbon black
  • Specialty grade carbon black

Method of production

  • Black Furnace
  • Thermal black
  • Others

Application

  • Printing inks
  • Paints and coatings
  • Packaging
  • Battery
  • Plastics
  • Tires
  • Others

Key Questions Addressed in the Carbon Black Sales Outlook Report

  • Report provides insight into carbon black demand outlook for 2021-2031
  • The market study also highlights the expected sales growth for the carbon black market between 2021 and 2031.
  • The Carbon Black market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancements within Of the industry
  • Analysis of the black carbon market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.

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About Fact.MR

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SOURCE Fact.MR

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