The new report by Expert Market Research titled, ‘Europe Carbon Black Market Size, Share, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe carbon black market, assessing the market based on its segments like product, grade, end use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 2.62 billion
- Forecast CAGR (2023-2028): 5.3%
- Forecast Market Size (2027): USD 3.75 billion
The growing demand for carbon black in Europe is being driven by businesses such as the flourishing automotive and infrastructure industries. Europe produces approximately a fifth of all the industry’s output worldwide. After the Asia Pacific, it is the main market for the product.
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While Germany is the region’s main importer of the chemical, Eastern European countries are the primary producers and sell the surplus to European Union countries in substantial quantities. Russia and the other Eastern European countries produce almost 9% of the world’s supply of the material.
The increased export demand from foreign markets is driving the carbon black market in Europe. The product is exported from the continent to places like the Middle East, Africa, and the United States, among other places. Russia, a significant exporter on the continent, sells the substance both within Europe and to other parts of the world, such as North America. Because of the reduced costs, North America predominantly imports the chemical from Russia and China.
Russia is its top exporter in Europe, with various European countries preferring to import the commodity from Russia over China, which is the world’s greatest manufacturer. This is due to the fact that European countries can obtain the material at a considerably lower cost and with lower transportation costs. As a result, the Russian market benefits from increased export demand. The country’s industry will also benefit from the simple availability of feedstock and the expansion of manufacturing units.
Europe Carbon Black Industry Definition and Major Segments
Carbon black is made by partially combusting hydrocarbons and appears as fine black amorphous carbon particles.
It’s widely utilised in the automobile industry in tyres, tubes, tread belts, and hoses, among other things. It is also used as colouring pigments in inks and as the electric conductive agent of high technology materials.
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Based on product, the market covers:
- Acetylene Black
- Channel Black
- Commodity Carbon Black
- Furnace Black
- Speciality Carbon Black
- Lamp Black
- Gas Black
- Thermal Black
Based on grade, the market is segmented into:
- Standard Grade
- Speciality Grade
Based on end use, the market is categorised into:
- Building and Construction
- Printing and Packaging
The major regional markets include:
- United Kingdom
Europe Carbon Black Market Trends
Its primary application is in the tyre industry. As a result, the industry’s growth is strongly reliant on not only the tyre business, but also the automotive industry, where tyres are the most common application. The replacement tyre sector dominates the European market.
However, following the economic crises of 2012, the region’s continuous growth in new car registrations has resulted in a small increase in demand for OEM tyres. Germany is a regional leader in the tyre sector, as well as a thriving automobile manufacturing industry. Through 2018, the German automobile market grew by about 3% over 2017, and growth is expected to continue in 2020.
The development of electric vehicle sales in Europe’s mature markets will give the carbon black market in Europe even more vigour. The growing popularity of electric vehicles in the region is driving up demand for specialty tyres to mitigate the wear caused by the vehicles’ high torque acceleration. Specialty products are likely to increase rapidly in Europe in the future years.
The continually developing infrastructure business in the region, particularly the rehabilitation and repair segment, will benefit the product’s application in paints, sealants, adhesives, and coatings. The material is also utilised as an ink pigment, and as a result, it is influenced by the print industry’s climate.
Key Market Players
The major players in the market are Birla Carbon, Cabot Corporation, Continental Carbon Company, Orion Engineered Carbons S.A, Tokai Carbon Co., Ltd, OJSC Kremenchug Carbon Black Plant, Carbon Black Kft, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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