Over the years, conventional methods of generating carbon black have polluted the environment. The primary causes of this are the usage of conventional furnaces and the partial burning of crude oil. Additionally, governments have been forced to create strict rules as a result of companies’ incapacity to successfully reduce pollution from the creation of carbon black. For instance, three large producers of carbon black were fined a total of US$ 2.5 million in 2018 for failing to regulate air pollution flowing from their manufacturing plants.
Companies have started using sustainable methods in their corporate operations as a result of the aforementioned worries. For instance, Birla Carbon announced the launch of their sustainable carbon product CONTINUA in May 2021 with the intention of incorporating circularity into its operations.
In its recently released analysis, Fact.MR, a supplier of market research and competitive intelligence, outlines similar major patterns applied by manufacturers across the carbon black business.
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Key Segments
- By Grade
- Standard Grade Carbon Black
- Specialty Grade Carbon Black
- By Production Method
- Furnace Black
- Thermal Black
- Others
- By Application
- Carbon Black for Printing Inks
- Carbon Black for Paints & Coatings
- Carbon Black for Packaging
- Carbon Black for Batteries
- Carbon Black for Plastics
- Carbon Black for Tires
- Others
Report Benefits & Key Questions Answered
- Brand-share data on the Carbon Black market is provided in the study to provide a more in-depth look at the competition. Carbon Black Company: This is meant to aid businesses in proactive long-term planning.
- Analysis of historical volume sales for Carbon Black: Key sales-influencing factors are carefully examined. Additionally, the report compares the growth trajectories seen in 2016–2020 and 2021–2031.
- Carbon Black Analysis at the Category and Segment Level: To provide a thorough analysis, the market identifies key segments and emphasises key drivers of growth for each of these categories.
- Consumption of carbon black by demographics: The demographic analysis aims to offer suggestions to businesses so they can develop growth plans based on changing consumption trends.
Competition landscape
Key firms have chosen both organic and inorganic growth tactics, such as acquisitions, collaborations, and partnerships, to increase their market share. These have been recognised as effective tactics that have assisted them in gaining market share during the previous five years.
- Orion Engineered Carbons in July 2021 announced partnership with HiQ-CARB to provide lithium ion batteries, equipped with high performance carbon additives.
- Cabot Corporation in April 2020 announced completion of acquisition for Shenzen Sanshun New Materials Co. Ltd. This would help company strengthen its market position in China.
- Focusing on development of renewable carbon black Orion Engineered Carbons in July 2021 partnered with RISE, Sweden. This approach would help company focus on sustainable development of products thus placing it at the centre stage of innovation.
Key Takeaways from Market Study
- The biggest absolute dollar potential is anticipated to be offered by rubber carbon black by grade during the forecast period.
- Depending on the technique of production, furnace black is anticipated to grow at a high single-digit CAGR during the following 10 years.
- Based on application, it is expected that carbon black consumption for tyre production will double by 2031.
- By 2031, it is anticipated that East Asia will account for almost 40% of the worldwide carbon black market.
- By the end of 2031, South Asia and Oceania will hold a 13% market share.
