Carbon Black Market size 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
The global carbon black market is slated to showcase significant growth through 2032 owing to the increasing demand for mechanical rubber goods (MRG).
Industry players are striving to enhance their product offerings and extend their presence in overseas markets for improving their business standing. For instance, in November 20222, Orion Engineered Carbons a specialty chemicals supplier, became the first firm to receive the International Sustainability and Carbon Certifications (ISCC Plus) for producing various carbon black grades using different feedstocks at facilities in two regions of the world.
The carbon black market has been segmented in terms of process, grade, application, and region.
Based on process, the lamp black segment is anticipated to exhibit about 9% CAGR through the forecast period. The channel black segment is set to propel at more than 8.5% CAGR over the review timeline credited to the use of the products obtained from the channel black method that have varied functional groups on the surface, particularly in certain painting applications.
With respect to grade, the N-772 segment is poised to depict above 9.5% CAGR through 2032 due to the increasing consumption of tires across the world. The N-774 segment is slated to expand at over 9% CAGR from 2023 to 2032 attributed to the growing demand for tires from passenger vehicles.
On the other hand, the carbon black market share from the N-990 segment is estimated to surpass a valuation of $1.5 billion by 2032 due to its extensive use for making rubber items like wiper blades, sponge rubber, gaskets, and so on. The N-991 segment is speculated to be worth nearly $0.3 billion by the end of 2032 on account of the booming uptake of rubber products. The others segment is projected to showcase more than 9.5% over the next ten years.
In terms of application, the printing segment is primed to expand at approximately 5% CAGR through 2032 driven by the mounting need for promotional materials from the retail, food, electronics, and beverage sectors. In the meantime, the electronics segment is anticipated to record sturdy progress at over 4.5% CAGR through the study timespan owing to the growing penetration of electronic devices worldwide.
From the regional perspective, the Latin America carbon black market is set to witness notable development supported by the flourishing automotive sectors in Brazil and Mexico. Likewise, the Middle East & Africa carbon black industry is projected to grow at more than 6.5% CAGR from 2023 to 2032 driven by the expanding fleet of vehicles and upsurge in the consumption of electronic goods.
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