Carbon Black Market
The Global Carbon Black Market size is estimated to be USD 18.25 billion in 2019 and is predicted to reach USD 33.59 billion by 2030 with a CAGR of 5.7% from 2020-2030.
Carbon black is the elemental pure carbon available in the form of aggregate or fine particle. It is available by decomposing the hydrocarbons under the controlled pressure and temperature. Moreover, it consists more than 95% of carbon and negligible amount of hydrogen, oxygen, and nitrogen. The most common use of carbon black consists 70% of carbon. It is used as a filler mixed in elastomer, plastics, films, paints and adhesives.
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Top Companies: Birla, Evonik Industries, Asahi Carbon Co., Sid Richardson Carbon & Energy Co., Himadri Companies & Industries Ltd., Nippon Steel & Sumikin Chemical Co. Ltd., Mitsubishi Chemical Corp., OCI Company Ltd., Tokai Carbon Co. Ltd, OJSC Kremenchugis and others.
Increasing the tire production and rising demand for the plastics are the major factors driving the market during the forecast period. Moreover, increasing rubber goods production also contribute in boosting the carbon black market growth in the upcoming years. However, hazardous gases emitted into the environment during the production of carbon black is hampering the market growth. Asia Pacific is anticipated to hold the largest market share in the coming years in terms of value and volume. Globally, Asia Pacific is identified for manufacturing cheapest carbon black which is driving the companies in Europe and North America to shift their manufacturing facilities in this region.
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The carbon black market share is analysed on the basis of type, application, and geography. On the basis of type, the market is segmented into furnace black, gas black, lamp black, and thermal black. According to the application, the market is classified into the tires, high performance coatings, plastics, and others. The geographical segment of the advanced ceramics market covers North America, Europe, Asia Pacific, and Rest of the World.
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