Selbyville, Delaware, Nov. 08, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global carbon black market is expected to surpass USD 45 billion by 2032.
Growing demand for sustainable raw materials to produce vehicle tires has fostered the recovery of carbon black from tires approaching the end of their lifecycle. Carbon black has versatile applications across industries such as paints & coatings, automotive, and adhesives & sealants.
Despite the significant environmental risks associated with the conventional manufacturing process, the increasing focus on recovering carbon black from consumed tires is expected to influence the market trends over the forthcoming years.
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Carbon black market share from the acetylene black process segment is anticipated to surpass USD 2 billion by 2032. Acetylene black produces carbon black by thermally decomposing acetylene gas. This process yields products that are structured and have high crystallinity. Acetylene black is widely utilized for electric conductive agents.
The growing demand for electrically conductive agents will thus increase the demand for such carbon black products. Acetylene black is also being adopted by various end-users for making solar panels, fuel cells, electronics, paints, and rubber compounds among others, further stimulating market statistics.
Carbon black market value from the N-762 grade segment is projected to be worth over USD 7 billion by 2032. N-762 grade carbon black demonstrates several advantageous properties including high loading capacity, low reinforcing, and low hysteresis, making it an ideal material for the production of tubes, frameworks, and rubber products subject to dynamic loads, among others.
Browse key industry insights spread across 250 pages with 216 market data tables and 26 figures & charts from the report “Carbon Black Market Statistics By Process (Furnace Black, Thermal Black, Acetylene Black, Lamp Black, Channel Black), By Grade (N-550, N-660, N-762, N-772, N-774, N-990, N-991), By Application (Graphite Manufacturing, Tires & Rubber Goods, Coatings, Polymers, Printing, Electronics), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/carbon-black-market
This carbon black grade is also used in the production of molded goods and hoses, as well as a supporting filler in tread compounds of truck tires and mechanical rubber goods. The growing demand for novel rubber goods will thus fuel the consumption of N-762 grade carbon black products over the forecast period, cites the report.
Carbon black market share from the tires & rubber goods application segment is expected to depict over 6% CAGR between 2023 to 2032. This can be attributed to the growth of the transportation and automotive industry. Rapid production of passenger vehicles has increased the supply of tires, and in turn, augmented the demand for raw materials to produce these tires.
Rapid industrialization has also contributed to robust demand for transportation services, further bolstering tire requirements. Since carbon black demonstrates significant potential as a cost-effective reinforcement material, the use of the substance in components such as liners and inner tubes is likely to increase over the forecast period.
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Asia Pacific carbon black market size is anticipated to be worth over USD 21.5 billion by 2032. Growing demand for automobiles, especially from populated countries such as India and China, has increased the requirement for vehicle tires. Disposable incomes in these countries are increasing steadily, enabling consumers to purchase vehicles. The subsequent surge in demand for vehicle tires is increasing the supply of raw materials such as rubber, for which carbon black is essential. These factors, alongside the rapid rise in population, are driving the use of carbon black fillers in rubber production applications across the Asia Pacific, stimulating regional market expansion.
In terms of the competitive landscape, the companies operating in the carbon black industry include Cabot Corp., Continental Carbon Company, HEG Ltd., Showa Denko K. K., Bridgestone Corp., Phillips Carbon Black Limited, Birla Carbon, Lianyungang Jinli Carbon Co., Ltd., Tokai Carbon, BTR New Material Group Co., Ltd., and Syrah Resources Limited. Most of these companies are making strategic investments to expand their production capabilities.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
