Carbon Black Market Analysis

Carbon Black Market Analysis

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Carbon black market revenue from the furnace black process segment is set to cross USD 33 billion by 2032. Furnace black is an ideal method for mass production as it requires coal oil or petroleum oil, which are highly accessible, as raw materials to combust into high-temperature gases. Carbon black manufacturers use this process to produce high yields cost-effectively. This process also enables broader control over characteristics such as the structure and size of particles, further bolstering product consumption.
 

Carbon black market from the N-660 grade segment is projected to depict around 10% growth rate from 2023 to 2032. N-660 is a medium-active, medium-dispersion, and low-structure carbon black. This grade has a lower surface area in comparison to N-550, as well as a low level of heat build-up, good processability, and long fatigue life. The N-660 grade is used for body compounds in passenger vehicle tires, including inner liners. Growing demand for advanced rubber goods, in addition to the robust product characteristics, will thus boost the demand for N-660 grade carbon black.
 

Carbon black market value from the polymers application segment is expected to reach over USD 3.5 billion by 2032. Carbon black is included in polymers to offer the properties of electrostatic discharge and the deep jet-black color. This material has impressive ultraviolet (UV) absorption properties and is utilized within various polymers such as polyethylene and polypropylene to safeguard from UV degradation and convert the radiation into heat. The use of specialty carbon black is also growing in polystyrene for enhanced insulation performance.
 

Europe carbon black market is poised to record nearly 5.5% gains up to 2032. This growth can be credited to the strong presence of major automotive manufacturers in the region. Europe houses automotive manufacturers such as Volkswagen, BMW, Renault, Volvo, and Fiat among others.
 

Amongst them, the Volkswagen Group was the largest carmaker in Europe in 2021 followed by Stellantis and Renault. These prominent carmakers procure large volumes of vehicle tires from manufacturers such as Goodyear and Pirelli. Additionally, Europe accounts for over a fifth of the global production capacity for materials like carbon black. This will create more business opportunities for rubber vendors and carbon black manufacturers, which may, in turn, foster regional market growth.