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.

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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 Strategic Insights

Strategic insights for the Europe Carbon Black provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

key company profiles

  HiiROC Ltd

  Black Bear Carbon BV

  Klean Industries Inc

  OMSK Carbon Group Ltd

  Imerys SA

  Tokai Carbon Co Ltd

  Orion Engineered Carbons SA

  Cabot Corp

Europe Carbon Black Regional Insights

The geographic scope of the Europe Carbon Black refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.

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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights