Luton, Bedfordshire, United Kingdom, Nov. 25, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Carbon Black Market.
“The carbon black market was estimated to be USD 18.6 Billion in 2020 and at a CAGR of 4.5% is estimated to grow to USD 27.64 Billion by 2029.”
Carbon Black Market Overview
Carbon Black is a type of para crystalline carbon that contains 95.05% pure carbon and improves the material’s physical and mechanical properties to increase the final product’s effectiveness. Carbon Black is primarily used in the production of tires, plastics, mechanical rubber products, printing inks, and toners. Its primary application is in insulating wires and cables due to its ability to absorb UV radiation and convert it to heat. It is also used to make a variety of rubber products and pigments. It is effective as a low-cost rubber strengthening agent in tyres.
The automotive industry is expected to provide a lucrative opportunity for the Carbon Black industry because of the rising trend of tire replacement and the growing demand for high quality and premium tires. Because the tire industry accounts for roughly 3/4 of the total Carbon Black market, the introduction of electric vehicles will drive demand for Carbon Black tires over the assessment period.
Carbon Black is in high demand in a wide range of applications, including rubber reinforcement, paints and coatings, plastics, battery electrodes, and inks and toners.
The electronics industry also contributes to the black carbon market to some extent. As can be seen, black is clearly the most popular color in any line of electronics. The electronics manufacturing production line of laptops, desktops, televisions, mobile phones, and other products has contributed to the growth of the black carbon market.
Carbon Black has historically been driven by tire sales, which account for roughly 70% of total demand. The production of new vehicles, combined with rising disposable income in developed economies, is expected to open up new market opportunities for chemicals.
“High Demand for Carbon Black in Rubber Industry”
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Increased adoption of electric vehicles
Increasing environmental regulations are driving the trend of electric car manufacturing, which is increasing demand for high-quality ingredients in batteries to ensure that drivers arrive safely. The lithium-ion battery has become an indispensable part of modern life, and portable electronic devices such as cell phones, laptop computers, and power tools were among the first to employ this technology. However, electric vehicle batteries must meet stringent performance and economic criteria.
Rising demand in the tire industry
Carbon Black is used in the rubber industry to improve certain desirable qualities of tire rubber. Furthermore, the UV resistance provided by this material, as well as its function as an ozone scavenger, aid in the stabilization of tire rubber against UV light and oxidation, as well as the prevention of fissuring or cracking. It also helps in the reduction of thermal damage to the tire and the extension of its lifespan. A growing automobile industry globally is creating a high demand for efficient tires, which is driving market revenue growth.
High Demand for Carbon Black in Rubber Industry
Carbon Black is widely used in the rubber industry as well. Carbon Black is used in almost 90% of rubber applications, both automotive and non-automotive. Carbon Black is used in approximately 70% of tire applications and 30% of non-tire applications. Carbon Black is used in industrial rubber products as a rubber reinforcing agent, which has become a source of …