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Sustainable Carbon Black (sCB) Market is predicted to represent a 5.8% CAGR during the forecast period for 2024-2031.
Sustainable carbon black offers an eco-friendly alternative to traditional carbon black, derived from renewable sources like biomass, recycled tyres, or plastics. This innovative approach significantly reduces environmental impact by lowering greenhouse gas emissions, decreasing reliance on fossil fuels, and promoting waste reduction through material recycling. Although faced with challenges such as scalability and cost-competitiveness, sustainable carbon black aligns with growing demands for sustainable materials across various industries. Its development marks a crucial step towards achieving greater sustainability in manufacturing processes, contributing to the global effort to mitigate climate change and foster a circular economy.
The demand for sustainable carbon black (CB) is anticipated to rise due to its increasing application in many end-user industries, including transportation, industrial, printing, packaging, building, and construction. Furthermore, sustainable carbon black (sCB) is anticipated to witness even more rapid expansion with the expanding rubber industry. The expansion of the automotive industry is anticipated to lead to growth in the market.
However, the market development is hampered by the high-cost criteria for the safety and health of the sustainable carbon black (sCB) market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high sustainable carbon black (sCB) because of the prohibitive startup and ongoing expenses of producing commercially viable quantities of sustainable carbon black (sCB), new players in the industry are unable to break into the market.
The market for sustainable carbon black (sCB) took a hit due to the recent coronavirus emergency. Combating the virus's spread has worsened matters and stunted the expansion of some industries. The sudden closure of national and international borders has had an unforeseen impact on several industries, including automotive, industrial, oil and gas, chemical, and aerospace, where operational efficiency has been lost and value chains have been disrupted.
Competitive Landscape
Some Major Key Players In The Sustainable Carbon Black (sCB) Market:
- Monolith
- Birla Carbon
- Waverly Carbon
- OCI Company
- Goodyear Tire and Rubber Company
- Tokai Carbon
- Other prominent players
Market Segmentation:
The sustainable carbon black (sCB) market is segmented based on type and application. According to the type, the market is segmented into primary carbon black and inorganic carbon black. By application, the market is segmented into tyres, plastics, coatings, and inks.
Based On The Type, The Primary Carbon Black Segment Is Accounted As A Major Contributor To The Sustainable Carbon Black (Scb) Market.
The primary carbon black sustainable carbon black (sCB) market is expected to lead with a major global market share. Carbon black is a common material for stabilizing metal nanoparticles because of its many desirable properties, including its cheap cost, wide surface area, strong electron conductivity, chemical inertness, and mechanical and thermal durability. It is produced by pyrolyzing organic polymers or hydrocarbon precursors.
Coatings Segment To Witness Growth At A Rapid Rate.
The coatings industry makes up the bulk of acrylic acid ester usage because coatings defend against wear-prone applications. Their design features are wearing resistance, reduced friction, protection from caustic and acidic fluids and cleaning agents, and improved line efficiency.
In The Region, The North American Sustainable Carbon Black (Scb) Market Holds A Significant Revenue Share.
The North American sustainable carbon black (sCB) market is likely to register a large market share in revenue in the near future. It can be attributed to the growing need for eco-friendly and economical substitutes for conventional materials. The region's emphasis on sustainability and its well-established automobile industry are propelling the adoption of sCB. In addition, Asia Pacific is estimated to grow rapidly in the global sustainable carbon black (sCB) market because the increasing demand for environmentally friendly items is driven by the region's thriving automotive and tyre industries. Increased manufacturing of rubber goods and plastics is also fueling growth in this area's sustainable carbon black market.
Recent Developments:
- In Jan 2024, Birla Carbon declared the opening of two additional carbon black production facilities in Naidupet, Andhra Pradesh, India, and Rayong, Thailand. Birla Carbon will increase carbon black production capacity by over 240 thousand metric tons to accommodate market and major customer expansion.
- In May 2023, Monolith introduced its inaugural product to be featured in any tyre. Goodyear, a leading tyre company, revealed that Monolith's carbon black was incorporated into a new tread formula for its high-performance ElectricDrive™ GT passenger tyre in size 235/40R19, designed for vehicles like the Tesla Model 3. Monolith and Goodyear advanced towards achieving zero-emissions carbon black in tyre production.
Sustainable Carbon Black (sCB) Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 5.8% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Monolith, Birla Carbon, Waverly Carbon, OCI Company, Goodyear Tire and Rubber Company and Tokai Carbon. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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