The carbon black market will reach a value of USD 19,135.3 million by 2030 from an estimated value of USD 13,622.8 million in 2023, at a compound annual growth rate of 5% in the years to come.
This raw material is formed throughout the partial burning or thermal decomposition of natural gas and oil as the feedstock, using any of the 4 main procedures: furnace black, acetylene black process, channel process, and Lampblack process.
Plastics will grow the fastest in the years to come as well. Carbon black is widely used for conductive packaging, semi-conductive cable compounds, films, fibers, moldings, and pipes.
Some of the important uses of plastics made from this compound are industrial bags, stretch wraps, refuse sacks, agriculture mulch film, and photographic containers. It is used in the making conductive plastics as it exhibits electrical conductivity and antistatic properties.
The rubber sector all over the globe is growing rapidly, accredited to the increasing requirement for it from the automotive, consumer goods, construction, and electronics sectors.
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Based on grade, the standard category dominates the carbon black market share. This has a lot to do with the increasing acceptance of standard-grade rubber items, for example tires, cables, and wires, for more than a few industrial applications.
Furthermore, the specialty category will grow at a considerable rate in the future because of the growing use of specialty carbon black in coatings and inks and plastic industries.
APAC is the leader of the industry in the current scenario. The high requirement for will continue to support the industry advance. Additionally, the fast monetary development, accompanied by the quick development and industrialization in the developing countries of the region, has powered the requirement for carbon black.
The snowballing FDI and supportive guidelines are further boosting the development of the industry.
This product is used in the process of plastic manufacturing, and it is because of this fact, the demand for carbon black is on the rise all over the world. This trend will continue in the years to come as well.