Carbon Black Market Revenues to Reach USD 24.53 billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
GlobeNewswire On July 19, 2023 18:30 IST
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Hyderabad, July 19, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled “Carbon Black Market Report (2023-2028),” the market is estimated at USD 18.80 billion in 2023. It is expected to register a CAGR of 5.47% during the forecast period.
Carbon black is a fine carbon powder produced through incomplete combustion or thermal decomposition of hydrocarbons. The market for carbon black is projected to grow steadily with the growth in automotive production. The growth of the tire industry and the increasing adoption of electric cars are expected to influence the market positively in the coming years. China and India are the largest consumers of carbon black.
Report Summary:
Report Attribute Details
Market Size (2023) USD 18.80 billion
Market Size (2028) USD 24.53 billon
CAGR (2023-2028) 5.47%
Study Period 2018-2028
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers Increased market penetration of specialty black.
Expanding applications in the fiber and textile industries.
Who are the Top Companies in the Global Carbon Black Market?
The global carbon black market is consolidated in nature. The top ten players hold a significant share of the overall market.
The significant players in the global carbon black market with the majority market share are:
Abu Dhabi National Oil Company
Asahi Carbon Co. Ltd
Birla Carbon (Aditya Birla Group)
Cabot Corporation
Himadri Speciality Chemical Ltd
Imerys Graphite & Carbon Ltd
International CSRC Investment Holdings Co. Ltd
Jiangxi Heimao Carbon Black Co. Ltd
Longxing Chemical Stock Co. Lt
Mitsubishi Chemical Corporation
NNPC
OCI Company Ltd
Omsk Carbon Group
Orion Engineered Carbons GmbH
Phillips Carbon Black Limited (PCBL)
Tokai Carbon Co. Ltd
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Key Highlights from the Global Carbon Black Market Report:
Increasing Applications in Tire and Industrial Rubber Products
Carbon black is used in various parts of tires to enhance mechanical and dynamic properties, such as heat dissipation, handling, tread wear, and fuel efficiency.
Carbon black is also used in other molded and extrded industrial rubber products like conveyor belts, gaskets, air springs, etc.
These two industries are the largest consumers of carbon black in the global market. The growth of these industries is expected to be reflected in the carbon black market as well.
China to Continue its Dominance
China is the largest global exporter of carbon black. The country produces about 7.5 million metric tons of primary carbon black feedstock every year.
Besides the demand from the automotive industry, the growing printing industry in China is contributing to the market’s growth.
Chinese plastic producers are shifting to biodegradable materials, making carbon black an attractive choice.
What are the Latest Developments in the Global Carbon Black Market?
In June 2022, ADNOC Distribution entered a new carbon black supply agreement with ADNOC.
In March 2022, Cabot Corporation acquired Tokai Carbon Group to purchase its carbon black manufacturing facility in Tianjin, China.
Mordor Intelligence has Segmened the Global Carbon Black Market Based on Process Type, Application, and Geography.
By Process Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
Furnace Black
Gas Black
Lamp Black
Thermal Black
By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
Tires and Industrial Rubber Products
Plastic
Toners and Printing Inks
Coatings
Textile Fiber
Other Applications
By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looing to understand this industry. Get a glance at the Global Carbon Black Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting buterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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