Europe carbon black market comprises of various fine particles consisting primarily of carbon. It has a number of features which are controlled during production by partially combusting gases or oil. Europe carbon black market is vastly used across in different industries with a number of applications from electric conductive agent of high-tech materials to black coloring pigment of newspaper inks. The carbon black market is expected to project a market growth of 4.50% during the review period between 2024 and 2032. Add to that, the market is projected to reach a valuation of USD 21.47 billion by the end of the forecast period.
The Europe carbon black market market was seen witnessing a significant year of growth during 2024-2032, majorly due to the revived demand from end-user industries like plastics, paints & coatings, and tire. Also, the growth can also be accredited to the growing use of Europe carbon black market in the tire manufacturing industries, increasing demand from automotive and aerospace sectors, and the broadened application scope of carbon black market in plastics and paints & coatings.
With tire manufacturing being the biggest consumer of the product, it has been seen as a dominant industry contributing to the growth of the market over the last few years. Emerging countries in the Europe region like China, South Korea, and India are identified as major market contributors of Europe carbon black market. This is primarily due to the growing investment in tire and rubber making industry and a substantial growth phase of the construction and automotive industries.
On the contrary, the market is facing striking challenges from the changing regulations, leading to the replacement of the product with silica as a reinforcing agent in the tire manufacturing industry. However, the booming automotive aftermarket and the construction sector in emerging countries is slated to be an opening of opportunity for further growth of the market.
Market Segmentation
The market for Europe carbon black market is segmented on the basis of function, process type, and application.
By process type, the market segments into thermal black, furnace black, acetylene black, channel black, and others. The furnace black segment holds the largest market share in 2017 and is expected to grow with the highest CAGR percentage. The market valuation Is projected to reach an estimated USD 10.42 billion by 2023. Following furnace black, channel black segment is another key process type holding the second largest market portion in this category.
By function, the market divides into reinforcement and pigments. The reinforcement segment held over 80 percent of the market share in 2017, thereby showcasing its undeniable dominance over the latter. Benefits offered by Europe carbon black market reinforcement like greater wear & tear resistance, improved resilience of the material, superior conductivity as and where required, and various other important physical properties have all contributed to the dominance of this segment.
By application, the market includes Non-tire, Plastics, Paints & Coatings, Tire, Inks, and others. The tire segment held the highest market share and is expected to grow at a desirable pace in the forthcoming years of the forecast period.
Regional Analysis
The Europe carbon black market market is geographically profiled under five major regions, namely Europe, North America, Latin America, Europe, and the Middle East & Africa.
Europe stands top with the highest market share portion among all other regions. The region is expected to reach a market value of USD 9,242 million by 2023. The market is majorly contributed by countries like China, India, Japan, and South Korea. The growth drivers of the market are high penetration of Europe carbon black market across various end-user industries, rapid scale urbanization and industrialization, and high growth of the end-users in the market.
North America follows Europe in terms of market size, with the US contributing a significant portion of the market share. Europe is another superior regional market, wherein Germany is dominating the market share owing to a major automobile production therein. The Middle East & Africa and Latin America are expected to grow at a moderate pace during the assessment period.
MRFR recognizes the following companies as the key players in the global- Carbon Black Companies
Shijiazhuang Xinxing Chemical Carbon Co. Ltd.
Cabot Corporation
Orion Engineered Carbons
Tokai Carbon Co. Ltd.
Mitsubishi Chemical Corporation
JINNENG
Himadri Speciality Chemical Ltd.
ChemChina
Jiangxi Black Cat Carbon Black Inc. Ltd.
Phillips Carbon Black Ltd.
NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD.
Sid Richardson Carbon and Energy Co. Ltd.
OCI COMPANY Ltd.
Suzhou Baohua Carbon Black Co. Ltd.
Longxing Chemical
Shandong Huadong Rubber Materials Co. Ltd.
Feb 23rd, 2019, Monolith revealed that it has begun the construction phase of a plant, wherein it is burning hydrogen instead of coal to ensure substantial reduction of the carbon dioxide emission. With this development, Monolith aims to bring-forward a resurgence of tire and auto manufacturing in the US.
Jan 21st, 2019, Balkrishna Industries Limited (BKT) is on the verge of inaugurating its new plant for the production Europe carbon black market. The plant stretching over 8 hectares in Bhuj, India is almost completed and is set for an official opening. The move will allow BKT to garner large Europe carbon black market quantities and a variety of specialty formulations in order to satisfy specific performance criteria for giants and other tires.
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for Europe, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
