According to a market report, published by Sheer Analytics and Insights, the total Carbon black market was valued at $18.1 billion in 2021. Growing at a high CAGR of 3.4 % between 2021 and 2032, it is estimated to reach $26.5 billion by 2032. Carbon black is used to manufacture rubber goods, plastics, printing inks, tires, and other things. It is a type of para-crystalline carbon which has 95% of pure carbon. It can absorb ultraviolet light and turn it into heat and energy. It is also used in making wires, cables, and long-range rubber products. The adoption of carbon is increasing day by day which is used in textile manufacturing as a coloring agent and this is expected to have a positive and productive impact in the global market.
Carbon black is useful in the coloring industry. It improves color spread and shows high tensile strength. Furthermore, the growing demand for plastics in electrical and electronic components will drive market growth in the upcoming years. Carbon black is manufactured by the thermal decomposition or partial combustion method. In addition, it is produced by four different methods such as furnace black process, channel process, acetylene black process, and lampblack process. Construction and manufacturing sectors are growing which is utilizing industrial rubber and equipment. Therefore, these are expected to make a positive impact on the demand for products that required raw materials, auxiliary materials, and utilities. However, at present days, the prices of crude oil are fluctuating and it has a crucial impact on the price of carbon black.
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Manufacturing methods of carbon black release air pollutants that are harmful to human beings and other animals. Few European countries such as the U.S have set up regulations to prevent this; however, few other countries such as China have not yet established such regulations to control the harmful air pollutants. Furthermore, such government regulation acts are impacting the carbon black market trend in a particular way. There are various advantages to reducing the dark carbon pollutants for air quality, human wellbeing, and the atmosphere. Based on grade, the carbon black market is segmented into specialty and conductive. The specialty division is the largest contributor to the market and it is manufactured from channel black, furnace black, acetylene black, and lamp black process.
Based on the application, the carbon black market is segmented into tires, coatings, plastics, printing inks, and toners. The tires segment is the largest contributor to the market. However, the plastics segment is anticipated to grow with the largest market share through the forecast period between 2022 and 2032. The industry of the carbon black market is fragmented with manufacturing companies such as Mitsubishi Chemical Holdings, Dominion Color Corporation, Asahi Carbon Co., Ltd., Birla Public Carbon Public Company, Cabot Corporation, and others. Key players such as Dominion Color Corporation, Birla Carbon Public Company Limited, Philips Carbon Black Limited, and Cabot Corporation among others are dominating the carbon black market across the globe.
The Carbon Black Market Has Been Segmented Into:
Carbon Black Market – By Application Type
Carbon Black Market – By Grade Type
Carbon Black Market – By Process Type
Carbon Black Market – By Region
North America
Europe
Asia-Pacific
LAMEA
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