Carbon Black Global Market Report 2023

Major players in the carbon black market are Phillips Carbon Black Limited, Mitsubishi Chemical Holdings, Birla Carbon Public Company Limited, Cabot Corporation, Tokai carbon co. Ltd., Omsk carbon Group, Jiangxi Black Cat Carbon Black Co.

New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carbon Black Global Market Report 2023" - https://www.reportlinker.com/p06316271/?utm_source=GNW Ltd., BASF SE, Dow Inc., Nouryon, DCL Corporation, Asahi Carbon Co. Ltd., OCI Company Ltd., China Synthetic Rubber Corp., Sid Richardson Carbon & Energy Co., Himadri Speciality Chemical Limited, and Asahi Carbon Co. Ltd.The global carbon black market grew from $16.5 billion in 2022 to $17.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The carbon black market is expected to grow to $23.39 billion in 2027 at a CAGR of 6.9%.The carbon black market consists of sales of forms of carbon black including lampblack and ivory black.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The carbon black is used as a protective coating for plastics, and resistors for electronic circuits.It refers to a fine black powder composed of elemental carbon which is produced by pyrolysis of low-value oil residues and partial burning at high temperatures under controlled process conditions.Carbon black is used to strengthen rubber in tires and acts as a pigment, ultraviolet stabilizer, and conductive or insulating agent in rubber, plastic, ink, and coating applications.Asia-Pacific was the largest region in the carbon black market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in the carbon black market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of carbon black are furnace black, channel black, thermal black, acetylene black, and others.Furnace black carbon is obtained by the partial burning of liquid and gaseous hydrocarbons in a closed furnace.Furnace black carbon is a type of carbon black that is used in rubber products. The different grades are standard grades and specialty grades, which are used in various applications such as tires, non-tire rubber, inks and coatings, plastic, and others.The growing automotive industry is expected to propel the growth of the carbon black market going forward.The automotive industry refers to the manufacture or sales of different types of vehicles.Black carbon is widely used for making the inner liners, sidewalls, and treads of tires as it increases the strength and longevity of tires.Carbon black is used in the automobile industry to improve the processing, strength, and durability of tires and also improve tire performance.For instance, according to Plastic Today, a US-based plastics processing company, the use of carbon fibers in the US automotive industry is expected to reach nearly 9,800 tons by 2030. Therefore, the growing automotive industry is driving the growth of the carbon black market.Strategic partnerships are a key trend gaining popularity in the carbon black market.The companies operating in the black carbon market are collaborating on the production of black carbon for their industrial uses.For instance, in December 2021, Monolith, a US-based firm that manufactures carbon black products, partnered with Goodyear, a US-based company manufacturing tires and rubber.With this partnership, Monolith aims to start its construction on the expanded Olive Creek facility and will produce 194,000 tons of cleanly made carbon black by 2025.Furthermore, in April 2022, Origin Materials Inc., a US-based carbon-negative materials company, partnered with Mitsubishi Chemical Holdings Group (MCHG), a Japan-based company manufacturing carbon black. This collaboration creates cutting-edge carbon materials for tire manufacture, allowing for the adoption of the original technology and assisting in the shift to sustainable materials in the automobile sector.In April 2020, Mitsubishi Chemical America Inc., a US-based company that manufactures chemicals and carbon black pigment, acquired Gelest Inc. for an undisclosed amount. With this acquisition, Mitsubishi Chemical MCC aims to continue enhancing its technology platform, leveraging its extensive R&D capabilities, and pursuing new business development opportunities in new markets to drive further expansion in the future. Gelest Inc., is a US-based company that manufactures organo-silicon and metal-organic materials, including carbon black products.The countries covered in the carbon black market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The carbon black market research report is one of a series of new reports that provides carbon black market statistics, including carbon black industry global market size, regional shares, competitors with a carbon black market share, detailed carbon black market segments, market trends and opportunities, and any further data you may need to thrive in the carbon black industry. This carbon black market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06316271/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________