What's driving the Carbon Black Market by Materials & Equipment growth? Orion Engineered Carbons, Birla Carbon, Cabot Corporation, Philips Carbon Black Ltd., Tokai Carbon Co., Ltd., Continental Carbon Company, Black Bear Carbon B.V

The carbon black market is expected to record significant gains owing to expansion of the plastic and coating industry, and increasing tire production across the globe. Carbon black is used across various application segments, including industrial, transportation, and building and construction sectors.

carbon black market size is anticipated to reach a valuation of $24.8 billion by 2024 with a CAGR of 6.6% over 2019 and 2024.

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Some of the emerging trend that directly affect the dynamics of the industry, include the growing use of bio-based and recycled carbon black and shifting focus from commodities to further specialized grades of carbon black.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

Orion Engineered Carbons, Birla Carbon, Cabot Corporation, Philips Carbon Black Ltd., Tokai Carbon Co., Ltd., Continental Carbon Company, Black Bear Carbon B.V., Longxing Chemical Group, Shandong Huadong Rubber Materials Co., Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Mitsubishi Chemical Corporation, OMSK Carbon Group, and Imerys Graphite & Carbon Switzerland SA.

The carbon black market is bifurcated in terms of application type, grade, end-use industry, attributes, and regional landscape. estimated time frame. The projection is further supported by increasing demand for light commercial vehicles as well as passenger cars. Additionally, estimates also suggest that the plastic segment is anticipated to foresee the highest growth over the coming years owing to the growth in the wire and cable, plastic pipes, as well as the packaging industry.

With respect to end-use, the transportation application segment is slated to continue to remain the largest end-use industry during the study period. The growth is attributed to the increasing demand for the tire as well as mechanical rubber goods.

Moreover, demand for carbon black in packaging end-use industry is also expected to witness the highest growth during the forthcoming years supported by growth in various sectors which includes personal care, pharmaceuticals, food & beverages, and household products.

From a regional frame of reference, Asia Pacific carbon black market is likely to remain the largest region by both value and volume and is anticipated to observe the highest growth during the coming time period. The growth is ascribed to higher vehicle production along with the shifting of tire production in low-cost countries like China and India.

Overall, the above-mentioned determinants are likely to offer a diverse range of growth opportunities for the carbon black market. The competitive landscape of the carbon black market includes companies like Tokai Carbon, Orion Engineered Carbons Holdings, Cabot Corporation, Sid Richardson Carbon & Energy, Birla Carbon, Philips Carbon Black, China Synthetic Rubber (CSR), and OMSK Carbon Group among others.

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