Report : Europe Carbon Black Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Acetylene Black, Channel Black, Furnace Black, Thermal Black, and Others), Grade (Standard Grade and Specialty Grade), and Application (Tire, Non-Tire Rubber, Plastics, Inks & Coatings, and Others)
At 5.0% CAGR, the Europe Carbon Black Market is speculated to be worth US$ 3,392.58 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe carbon black market was valued at US$ 2,530.99 million in 2022 and is expected to reach US$ 3,392.58 million by 2028, registering a CAGR of 5.0% from 2022 to 2028. Growing automotive tire sector and increasing demand for specialty carbon black are the critical factors attributed to the Europe carbon black market expansion.
Carbon black plays a significant role in developing high-performance electrical and mechanical properties for tough elastic polymeric substances such as rubber. Thus, carbon black is widely used to manufacture reinforcing and pigment phases in automobile tires due to its ability to increase tire life by reducing thermal damage. Materials used in manufacturing car tires are considered as a major factor in the comfort and safety aspects of automotive design. Carbon black is an additive in the rubber used to manufacture tires that significantly improves tensile strength and abrasion resistance when compounded into the polymer matrix. With the rising number of automobiles across the world and continuous improvements in their performance, the demand for carbon black is increasing for rubber and automotive tire manufacturing. Increasing automobile production boosts the demand for tires, which ultimately propels the growth of the carbon black market.
On the contrary, high carbon emission by virgin carbon black hurdles the growth of Europe carbon black market.
Based on type, the Europe carbon black market is sub segmented into acetylene black, channel black, furnace black, thermal black, and others. The furnace black segment held 83.2% market share in 2022, amassing US$ 2,104.82 million. It is projected to garner US$ 2,841.24 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on grade, the Europe carbon black market is segmented into standard grade and specialty grade. The standard grade segment held 82.9% market share in 2022, amassing US$ 2,097.17 million. It is projected to garner US$ 2,789.23 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on application, the Europe carbon black market is segmented into tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment held 70.9% market share in 2022, amassing US$ 1,795.19 million. It is projected to garner US$ 2,426.33 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on country, the Europe carbon black market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Germany captured 23.0% market share in 2022. It was assessed at US$ 581.40 million in 2022 and is likely to hit US$ 814.60 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.
Key players dominating the Europe carbon black market are HiiROC Ltd; Black Bear Carbon BV; Klean Industries Inc; OMSK Carbon Group Ltd; Imerys SA; Tokai Carbon Co Ltd; Orion Engineered Carbons SA; and Cabot Corp are the leading companies operating in the Europe carbon black market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com