Europe’s Take on Elevating Speciality Carbon Black to a Billion Dollar Market by 2031

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Europe’s Take on Elevating Specialty Carbon Black to a Billion Dollar Market by 2031

From pioneering research and development to collaborative partnerships and market expansion strategies, Europe is at the forefront of the progressive movement in upholding the carbon black market to its shore.

On a worldwide scale, the specialty carbon black market has evolved into an advanced raw material with distinct characteristics, finding widespread utilization in diverse sectors such as plastics, tires, and coatings.

The specialty carbon black market is projected to reach $6.37 billion by 2031 from $3.64 billion in 2021, growing at a CAGR of 5.82% during the forecast period 2022-2031.

As the Europe region embraces sustainability, resilience, and economic growth, this blog will discuss the pursuit of a billion-dollar market that becomes an exciting milestone in Europe's industrial landscape.

Europe's Quest for Transforming the Carbon Black Industry

Within Europe, there are several regional markets, including France, Spain, Germany, Italy, and the Rest-of-Europe, which play a vital role in the adoption and production of specialty carbon black within the European Union.

Europe is home to numerous manufacturing and research and development centers, particularly in the automotive, ceramics, textiles, plastics, and subcomponent sectors. The automotive market, in particular, exhibits a preference for the highest quality jetness solutions, such as ultraviolet (UV) protection for coating systems, which is anticipated to drive the growth of specialty carbon black in this industry.

In addition, Europe is the base for key players in the specialty carbon black industry, including Orion Engineered Carbons, Imerys S.A., Black Bear Carbon B.V., and Geotech International. These companies have established their presence and operations within the region.

Recent Developments in Europe’s Carbon Black Industry

The growth of specialty carbon black is anticipated to be propelled by increased investments in research and development endeavors. The specialty carbon black market in the Europe region is projected to reach $1.11 billion by 2031 from $0.64 billion in 2021.

In June 2023, Contec S.A., a firm specializing in sustainable raw material production through the upcycling of used tires, secured $16.34 million (EUR 15 million) in funding. Leading Polish manufacturer Pruszyński contributes an additional $5.45 million (EUR 5 million) alongside previous investments from VINCI and Warsaw Equity Group.

Birla Carbon, a prominent provider of top-tier carbon black solutions, showcased its offerings at the Tire Technology Expo 2023, held in Hannover, Germany, from March 21 to 23, 2023.

Pittsburgh is planning to produce hydrogen on-site using pyrolysis technology provided by H Quest Vanguard, a firm based in Harmar. This innovative process utilizes electricity to separate natural gas into hydrogen and carbon black.

Conclusion

The specialty carbon black sector must adjust to these goals and advancements, collaborating to guarantee a seamless and prosperous transition. The market growth in the projected years (2022-2031) is anticipated to be fueled by the reliance of various end-use industries on specialty carbon black's distinctive attributes.

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