Carbon Black Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

A large volume of carbon black is utilized in rubber applications. It provides reinforcement and improves resilience, tear-strength, conductivity, and other physical properties. Due to these factors, carbon black is a widely utilized and cost-effective rubber reinforcing agent in tire components, mechanical rubber goods, industrial rubber goods, membrane roofing, automotive rubber parts, and other rubber goods. Therefore, with increasing demand for such products, demand for carbon black eventually increases to support and suffice the requirement of the growing end-use industry. Further, carbon black is also used in protective coatings, plastics, and resistors for electronic circuits. However, the industry witnessed severe challenges in 2020 due to COVID-19, which resulted in the declining demand from the rubber manufacturing industry. For instance, in 2019, the global original equipment manufacture passenger car and light truck tire market stood at around 422 million units which fell to 351 million units in 2020. The most severe impact had witnessed in the South American region where demand dropped by 31% in 2020. This fall in tire sales reduced the demand for synthetic rubber, and so does the carbon black.

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According to UnivDatos Market Insights (UMI)’ research report “Global Carbon Black Market”, the market is expected to showcase a growth of around 5% during the forecast period. The large base of the application area and growing end-use industries are some of the key attributable factors to the growth of the market.

Based on process type, the market is categorized into furnace black, channel black, acetylene black, thermal black, and others. Among these, furnace black has a considerable share in the carbon black market. Furnace black is the most widely used carbon black as its manufacturing process enables large production with different particle sizes and structures. Further, furnace black can be used for various applications such as rubber reinforcement and coloring.

Based on application, the market is categorized into rubber reinforcement, paints & coatings, plastics battery electrodes, inks & toners, and others. Among these, rubber reinforcement held a prominent share in the global carbon black market. Reinforced rubber products combine a rubber matrix and carbon black as a reinforcing material so that they can achieve high strength to flexibility ratios, higher resistance to mechanical damage, improved traction, and better stability against additional motion-induced loads. Due to this, reinforcement rubber is widely used in the tire industry as it is better suited to meet the increasingly stringent specifications of high-performance tires. Further, in the automotive industry, rubber reinforcement founds application in belts, hoses, and gaskets. Therefore, growth in the tire industry and replacement of automotive components are some of the key factors for its considerable position in the market.

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Asia-Pacific accounted for a prominent share of the carbon black market

Asia-Pacific held a prominent share in the carbon black market owing to a large number of synthetic rubber manufacturers in the regional economies to suffice the growing demand for rubber in its vast and growing manufacturing industries. The regional economies are among the largest producer of manufactured goods where synthetic rubber as a raw material plays a pivoted role. The region is the largest producer of automobiles across the globe with countries like China, Japan, South Korea, and India being among the top automobile producers, globally. Further, regional tire companies like Bridgestone, Sumitomo, Yokohama, Kumho, Hankook, Apollo, and MRF are among the largest tire producers. Further, the region is the largest footwear producer and consumer, with a global production share of around 88% in 2020. Countries like China, Vietnam, Indonesia, and India are among the largest exporter of footwear, with an export market share of around 61.1%, 10.2%, 3.0%, and 1.9% respectively. Further, increasing the adoption of EVs owing to government-supported policies and improving EV infrastructure in the regional countries is further propelling the carbon black market.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global carbon black market include BASF SE, Birla Carbon, Cabot Corporation, Asahi Carbon Co. Ltd., Orion Engineered Carbons, Mitsubishi Chemical Corporation, Tokai Carbon Co. Ltd., Imerys Graphite & Carbon Ltd., Longxing Chemical Stock Co. Ltd., and OCI Company Ltd.  These companies are taking several strategic decisions to meet the growing demand and increase their market share.

“Global Carbon Black Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1.     By Process Type (Furnace Black, Channel Black, Acetylene Black, Thermal Black, and Others)

2.     By Grade (Specialty Grade, Conductive Grade, and Others)

3.     By Application (Rubber Reinforcement, Paints & Coatings, Plastics, Battery Electrodes, Inks & Toners, and Others)

4.     By Region (North America (United States, Canada, and the Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of the World

5.     By Company (BASF SE, Birla Carbon, Cabot Corporation, Asahi Carbon Co. Ltd., Orion Engineered Carbons, Mitsubishi Chemical Corporation, Tokai Carbon Co. Ltd., Imerys Graphite & Carbon Ltd., Longxing Chemical Stock Co. Ltd., and OCI Company Ltd.)

Key questions answered in the study:

1.     What are the current and future trends of the global carbon black industry?

2.     How the industry has been evolving in terms of process type, grade, and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global carbon black industry?

5.     What are the customer orientation, purchase behavior, and expectations from the global carbon black suppliers across various region and countries?