Carbon Black Market Rapid Growth in the Rubber Industry

According to Precision Business Insights (PBI) latest report the Carbon Black market was valued at USD 20,611.6 million in 2023 growing at a 4.2% CAGR from 2024 to 2030. The rise in demand for carbon black in various applications such as rubber reinforcement, paints & coatings, plastics, battery electrodes, and inks & toners is driving the market. Moreover, growing sales and production of vehicles across the globe are contributing to market growth. The global automotive industry's recovery post-pandemic, coupled with the rising production of electric vehicles, sustains this demand. According to the International Organization of Motor Vehicle Manufacturers, in 2023, 87 million vehicles were produced worldwide, demonstrating a robust demand for tires and, by extension, carbon black. The growing emphasis on sustainability has led to increased research and development in bio-based carbon black and recovered carbon black from end-of-life tires. This trend is driven by environmental concerns and regulations aimed at reducing the carbon footprint of industrial processes.

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Furnace Black subsegment dominates the Carbon Black Market
The Furnace Black subsegment is expected to maintain its dominant position in the Carbon Black Market throughout the forecast period, primarily due to its widespread applications and cost-effectiveness. In September 2023, Cabot Corporation, a leading global specialty chemicals and performance materials company, unveiled its next-generation furnace black production technology. This innovative process significantly reduces carbon emissions while enhancing product quality and consistency. The new technology incorporates advanced process control systems and utilizes alternative feedstocks, resulting in a more sustainable and efficient production method. By addressing growing environmental concerns and meeting stringent regulatory requirements, Cabot's breakthrough is poised to further solidify the furnace black subsegment's market leadership and drive adoption across various industries, including automotive, plastics, and coatings.

North America Leads Carbon Black Market
Based on Region, Carbon Black Market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. With the largest market share of 47.3%, the Asia-Pacific Carbon Black Market is anticipated to continue to dominate in the years ahead. Asia Pacific's dominant position is a result of factors including fast industrialization, rising automotive production, and rising tire demand in nations like China and India. The demand for carbon black in a variety of applications is further increased by the region's growing manufacturing sector and infrastructure projects. North America's focus on sustainable production methods, strict quality requirements, and the presence of significant tire and automotive manufacturers are expected to propel the region's expansion at the quickest rate throughout the projected period.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Carbon Black market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In November 2018, Orion Engineered Carbons S.A. acquired Société du Noir d'Acétylène de l'Aubette, SAS (SN2A), an acetylene carbon black manufacturer. This acquisition:
 Involved purchasing SN2A from LyondellBasell Industries Holdings B.V. and its French affiliate
 Expanded Orion's portfolio to include a company founded in 1987
 Added a production facility located in Berre l'Etang, near Marseille, France

In March 2022, Cabot Corporation acquired Tokai Carbon (Tianjin) Co., Ltd Carbon Black Plant in China. This acquisition:
 Increases Cabot's manufacturing capacity in China
 Supports the expansion of Cabot's Battery Materials product line
 Allows Cabot to continue serving existing carbon black clients while expanding its operations

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Detailed Segmentation
The Carbon Black Market is segmented based on Type, Grade, Application, and geography.
Based on the Type, the market is segmented into the following:
• Furnace Black
• Channel Black
• Acetylene
• Thermal Black
• Others

Based on Grade, the market is segmented into the following:
• Specialty
• Conductive

Based on Application, the market is segmented into the following:
• Tires
• Coatings
• Plastics
• Printing Inks
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Key player's profiles in the Carbon Black Market report Nippon Carbon Co., Birla Carbon, Mitsubishi Chemical Corporation, Jiangxi Black Cat Carbon Black Inc., Ltd, Evonik Industries AG, Phillips Carbon Black Limited, DCL Corporation., ASAHI CARBON CO., LTD., Cabot Corporation, Orion Engineered Carbons are a few companies operating in Carbon Black market.

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This release was published on openPR.