The Europe carbon black market is expected to grow from US$ 2,530.99 million in 2022 to US$ 3,392.58 million by 2028. It is estimated to grow at a CAGR of 5.0% from 2022 to 2028.
Increasing Demand for Specialty Carbon Black is Driving Europe Carbon Black Market
Specialty carbon black is the purest form of carbon black with a low level of ash, sulfur, metals, and other impurities. It is produced through the partial combustion of hydrocarbons such as oil and gas to meet rigorous specifications and deliver necessary functionality according to end-user requirements. Specialty carbon black is used as a reinforcing agent in hoses, belts, gaskets, vibration isolation devices, diaphragms, bushings, air springs, chassis bumpers, conveyor wheels, and grommets. It is also used in refuse sacks, industrial bags, photographic containers, stretch wrap, agriculture mulch film, thermoplastic molding applications for automotive, electrical/electronics, and blow-molded containers.
The rising demand for conductive specialty carbon black products and conductive additives is creating significant potential in various end-use industries such as transportation, industrial, and building & construction. Conductive carbon black is an extremely versatile substance and used for lithium-ion batteries, fuel cells, and polymer applications. Electric vehicles are a promising option to reduce greenhouse gas emissions and air pollution in densely populated areas and contribute to energy diversification. According to the International Energy Agency, in 2020, more than 10 million electric cars were on the road across the world, with an increase of 43% compared to 2019. Battery electric vehicles accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. Europe had the largest annual increase and reached 3.2 million electric cars. Increasing preference for electric vehicles is driving the demand for specialty carbon black. Moreover, manufacturers are increasing their investments in developing countries to meet the surging demand for specialty carbon black.
Europe Carbon Black Market Overview
Major economies in Europe include Germany, France, Italy, the UK, and Russia. The automotive industry is one of the most rapidly growing industries in the European economy. The industry is witnessing significant growth due to an increase in automotive production. According to the European Automobile Manufacturers’ Association (ACEA), in 2021, ~12 million units of motor vehicles were produced in the region. The region holds lucrative opportunities for the carbon black market players, owing to the huge demand from the tire industry. Carbon black is used to improve the processing, strength, and durability of tires, and enhance automotive tire manufacturing and overall tire performance. Thus, the rising automotive industry in Europe is boosting the demand for tires, which is expected to drive the carbon black market during the forecast period.
Europe Carbon Black Market Revenue and Forecast to 2028 (US$ Million)
Europe Carbon Black Market Segmentation
The Europe carbon black market is segmented into type, grade, application, and country.
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 the largest market share in 2022.
Based on grade, the Europe carbon black market is segmented into standard grade and specialty grade. The standard grade segment held the larger market share in 2022.
Based on application, the Europe carbon black market is segmented into tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment held the largest market share in 2022.
Based on country, the Europe carbon black market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Germany dominated the market in 2022.
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.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,530.99 Million |
| Market Size by 2028 | US$ 3,392.58 Million |
| CAGR (2022 - 2028) | 5.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Carbon Black Market is valued at US$ 2,530.99 Million in 2022, it is projected to reach US$ 3,392.58 Million by 2028.
As per our report Europe Carbon Black Market, the market size is valued at US$ 2,530.99 Million in 2022, projecting it to reach US$ 3,392.58 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The Europe Carbon Black Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Carbon Black Market report:
The Europe Carbon Black Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Carbon Black Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Carbon Black Market value chain can benefit from the information contained in a comprehensive market report.
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