Carbon Black Market- Industry Forecast and Future Opportunities

Carbon black has gained skyrocketed attention from multiple industries increasing market share. Carbon black provides the necessary properties for thermal insulation. Carbon black is essentially black pigment to produce grey and deep black pigments, increasing demand for paints and coating applications. It increases the gloss and opacity of colors. In adhesives and sealants, carbon black is popular as UV resistant and conductivity.  In the paper industry, carbon black is used for finely divided pigments and pulp dying.

The global carbon black market is anticipated to grow from USD 13,620.57 million in 2022 to USD 18,514.57 million by 2028. This market is estimated to grow with a CAGR of 5.2% from 2022 to 2028.

Carbon black has better shelf life performance leading to the production of energy efficient batteries. The growing technical textile arsenal has opened the scope for the application of carbon black. It is used to impart deep black shades and desired effects in fabrics. Rubber manufacturing is the largest field of carbon black application. Carbon black reinforce fillers for rubber products. Owing to multivariate applications carbon black has received significant market share.

The global carbon black market is dominated by the Asia Pacific region with about USD 7,439 million in 2021. Europe is another major contributor to the carbon black market. The US, Canada, and Mexico are key regions in the North American carbon black market.

Source: The Insight Partners