Sustainable Carbon Black Market Projected to Grow at 5.8% CAGR by 2031.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sustainable Carbon Black (sCB) Market - (By Type (By Type (Primary Carbon Black, Inorganic Carbon Black), By Application (Tyre, Plastics, Coatings, Inks)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Sustainable Carbon Black (sCB) Market is expected to grow with a CAGR of 5.8% during the forecast period of 2024-2031.

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Sustainable carbon black is produced from renewable sources like biomass, recycled tyres, or plastics using methods that reduce environmental harm. The methods mentioned are pyrolysis, gasification, and bio-based production techniques. They help decrease greenhouse gas emissions and reduce waste through the use of materials that would otherwise be thrown away.

The demand for sCB has been rising due to the growing number of firms and industries looking to lessen their impact on the environment and implement sustainable practices. Major users of sCB include the transportation and automotive sectors and the building, packaging, and rubber industries. These sectors can benefit from a more sustainable supply chain, lower costs, and enhanced product performance by using sCB. However, the increasing demand for premium tyres in the automotive sector is a major factor in the growing demand for virgin carbon black. It is anticipated that this factor will slow the growth rate of the sustainable carbon black (sCB) market.

List of Major Market Players in the Sustainable Carbon Black (sCB) Market:
• Monolith
• Birla Carbon
• Waverly Carbon
• OCI Company
• Goodyear Tire and Rubber Company
• Tokai Carbon

Market Dynamics:
Drivers-
The growing demand for the sustainable carbon black (sCB) Market is fueled by the increasing demand for sustainable carbon black (sCB) in different end-user industries, including transportation, industrial, printing and packaging, building and construction, and others. As the rubber sector continues to grow, the sustainable carbon black (sCB) market is expected to experience even faster growth. The widespread availability of recyclable tyres is another factor that will boost market value.

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Challenges:
The prime challenge is insufficient expensive prices, a shortage of competent individuals, and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the sustainable carbon black (CB) Market. Startup and continuing expenses for generating commercially feasible amounts of sustainable carbon black (sCB) are so high that new entrants to the business are unable to participate. As a result of COVID-19, numerous companies had to close their doors and disrupt their supply lines. Our profession and way of life were also drastically altered by it. Sectors like healthcare and technology reaped benefits from the economy's ups and downs while the travel and hospitality industry struggled. The dynamics of the Market were affected by the introduction of economic stimulus packages by governments worldwide.

Regional Trends:
The North American sustainable carbon black (sCB) market is anticipated to record a large market share in revenue. It is projected to grow at a high CAGR in the near future because of the growing research and development activities of both small and major companies. Businesses in North America are thriving because their leaders are adopting integrated enterprise and business solutions, which allow for more adaptability and speed in daily operations. Besides, Europe had a considerable share of the market because of the increasing government laws on using eco-friendly products in the automotive industry.

Recent Developments:
• In Jan 2024, Birla Carbon declared the opening of two additional carbon black production facilities in Naidupet, Andhra Pradesh, India, and Rayong, Thailand. Birla Carbon will increase carbon black production capacity by over 240 thousand metric tons to accommodate market and major customer expansion.
• In May 2023, Monolith introduced its inaugural product to be featured in any tyre. Goodyear, a leading tyre company, revealed that Monolith's carbon black was incorporated into a new tread formula for its high-performance ElectricDrive™ GT passenger tyre in size 235/40R19, designed for vehicles like the Tesla Model 3. Monolith and Goodyear advanced towards achieving zero-emissions carbon black in tyre production.

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Segmentation of Sustainable Carbon Black (sCB) Market-
By Type-
• Primary Carbon Black
• Inorganic Carbon Black
By Application-
• Tire
• Plastics
• Coatings
• Inks
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.