Europe Carbon Black Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Carbon Black Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Europe carbon black market is expected to expand at a CAGR of more than 4.5% during the forecast period. Major factors driving the market studied are increasing use in fibers, rising demand for specialty carbon black, etc.

Key Highlights

• However, competition from silica-based rubber products is expected to hinder the growth of the market studied.
• Use of new nanomaterial in tire production is likely to act as an opportunity in the future.
• Germany dominated the market across the region due to the largest production of tires. Also, the region is projected to witness the fastest growth during the forecast period.

Key Market TrendsIncreasing Application for Tires and Industrial Rubber Products

• Carbon black is used in tires primarily as a filler to enhance its various characteristics such as tread wear, fuel economy, longevity, etc.
• Carbon black is mainly required in the inner liners, sidewalls, and carcasses. It has heat-dissipation capabilities when added to rubber compounds. It also improves handling, tread wear, fuel mileage, as well as provides abrasion resistance.
• Carbon black is one of the most important industrial chemicals manufactured globally. Other than tires, it is also required for various molded and extruded industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hoses. It provides flex strength in such products.
• Europe has more than 91 tire manufacturing facilities, 15 R&D centers, and 12 leading tire manufacturers, which are currently in operation. Furthermore, both, the production and sales of, passenger cars, light commercial vehicles, and medium and heavy commercial vehicles in all of Western, Central, and Eastern Europe are expected to increase in the near future, thereby, boosting the market for tire, and hence, the use of carbon black in the region.
• Furthermore, in the rubber industry, carbon black is majorly used as a filler to achieve reinforcing effects, such as altering the modulus or tensile strength. In rubber-based adhesives, sealants, and coatings, it is used to enhance the intermolecular or cohesive forces of the product and to impart conductivity. Furthermore, in coatings, carbon black is used as a light-absorbing additive to counteract chemical degradation reactions.
• Therefore, considering the aforementioned factors, the demand for carbon black is expected to rise from the tires and industrial rubber products segment moderately during the forecast period.

Germany to Dominate the Market

• Germany is expected to be the leading market for carbon black in Europe. The increasing demand for carbon black from various end-use industries, such as tire, rubber, coatings, and plastic, is expected to drive the carbon black market in Germany.
• Tire application accounts for a major share of the German carbon black market. Carbon black is majorly used as reinforcing filler in tires. It improves the life span of tires, as it conducts heat away from the tread and belt area of tires. It also enhances the properties of tires in terms of fuel mileage, abrasion resistance, and hysteresis; thereby, improving the overall performance of tires.
• Germany is the fourth largest vehicle producer in the world, just after China, United States, and Japan; and the country has also built a reputation for high-quality automobile manufacturing. Such factors have positioned Germany as one of the most lucrative markets for leading global tire manufacturers.
• Such positive attributes are expected to drive the market for carbon black in Germany through the forecast period.

Competitive Landscape

The Europe carbon black market is consolidated in nature. The major companies include Cabot Corporation, Mitsubishi Chemical Holdings Corporation, OMSK Carbon Group, and Orion Engineered Carbons, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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