As per Inkwood Research, the Global Carbon Black Market is expected to record a CAGR of 5.14% in terms of revenue during the forecasting years of 2023-2032.
“Browse 48 Market Data Tables and 48 Figures spread over 215 Pages, along with an in-depth TOC on the Global Carbon Black Market Forecast 2023-2032.”
A commercial form of solid carbon, known as carbon black, is manufactured using strictly regulated methods in order to create carbon particles’ specially engineered aggregates. They differ in size, shape, porosity, as well as surface chemistry.
High Market Penetration of Specialty Carbon Black to Drive Market Growth
Recovered carbon black (rCB) is a noteworthy element in correlation with the specialty carbon black industry. The primary objective of rCB is to convert rubber waste into valuable commercial products. Moreover, owing to technological improvements as well as innovations, the pyrolysis process has become more environmentally friendly and efficient. As a result, these developments, coupled with the high market penetration of specialty carbon black, are set to boost market growth during the forecast period.
Tires & Industrial Rubber Products: Dominating Application by 2032
Carbon black is utilized in the tires of vehicles as a filler, in addition to being a strengthening reinforcing agent. It is also one of the reinforcements often used in the tire industry, given its outcome on the dynamic and mechanical characteristics of tires. Moreover, carbon black is utilized in various formulations with several rubber types in order to customize the performance properties of tires.
Asia-Pacific to Lead & Dominate Global Market
Since China accounts for a higher share of the carbon black production and capacity globally, demand-supply imbalances in the nation can impact domestic players’ performance as well as market share. On the other hand, the country also generates carbon black mainly via the Carbon Black Oil (CBO)/Coal Tar pathway, characterized by higher pricing compared to CBFS.
Some of the leading companies operating in the global carbon black market include Cabot Corporation, Aditya Birla Group, Tokai Carbon Co Ltd, etc.