The Carbon Black Market: Size, Share and Trends by 2031
Understanding Carbon Black Carbon black — a finely divided powder of almost pure carbon — is an essential ingredient in a great number of industrial uses. It is produced by incomplete combustion or thermal decomposition of hydrocarbons, giving a material that has a combination of unexpected properties (great surface area, high electrical conductivity, and reinforcing strength). According to the carbon black market analysis, the global carbon black market size is estimated to be around US$ 21.22 billion by 2031 , from US$ 14.11 billion in 2023 . The carbon black market is expected to grow by 5.2% CAGR in 2023-2031. Market Dynamics Demand in the carbon black market is mainly associated with the automotive industry, which is a major outlet for carbon black. This is due to “the rapid increase in automobile ownership in emerging economies and the requirement for enhanced universal mobility and safety”, which showcases how technical advancement is the driving force behind the market. M