Carbon Black Tire Market Scope
Carbon black is an essential material for the manufacturing of tires and other industries. Carbon black is produced from incomplete combustion of heavy petroleum products such as coal tar, FCC tar, etc. Increasing demand for high-performance tires increased the demand for carbon black for manufacturing of tires as it strengthens rubber and improves its resistance to wear and tear. The use of recovered carbon black among tire manufacturing companies due to growing awareness about environmental concerns of virgin carbon black is likely to create significant opportunities for the market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Continental Carbon Company (United States), Contec (Poland), Aditya Birla Group (India), Orion S.A. (Luxembourg), Tokai Carbon Co., Ltd. (Japan), Monolith Inc. (United States), Cabot Corporation (United States), Omsk Carbon Group (Russia), OCI Company Ltd (South Korea), PCBL Limited (India), Imerys (France), Longxing Chemical Stock Co.,Ltd (China), Rahaoil, Inc. (UAE) and BKT Carbon (India) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Continental Carbon Company (United States), Contec (Poland), Aditya Birla Group (India), Orion S.A. (Luxembourg), Tokai Carbon Co., Ltd. (Japan), Monolith Inc. (United States), Cabot Corporation (United States), Omsk Carbon Group (Russia), OCI Company Ltd (South Korea), PCBL Limited (India), Imerys (France), Longxing Chemical Stock Co.,Ltd (China), Rahaoil, Inc. (UAE) and BKT Carbon (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Carbon Black Tire market by Type , by Application (Two & Three Wheelers Tire, Passenger Cars Tire, Commercial Vehicles Tire, Off-The-Road Vehicles Tire and Others) and Region with country level break-up.
On the basis of geography, the market of Carbon Black Tire has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2023, Aditya Birla Group signed an agreement to acquire Columbian Chemicals Company to expand its global footprint. The acquisition takes Birla Group closer to its vision of becoming a premium carbon black player across the globe in terms of size and reach.
Influencing Trend:
Development of New Carbon Black Grades to Meet Specific Requirement From Tire Manufacturers and Shift Towards the Carbon Black Manufactured From Renewable or Recycled Material
Market Growth Drivers:
Increasing Demand for High-Performance Tires With High-Speed Control and Short Braking Distance and Rising Manufacturing of Vehicles Due to Increasing Vehicle Ownership
Challenges:
Increasing Competition From Other Tire Materials Such as Modified Graphene
Restraints:
Volatility in Carbon Black Raw Material Prices May Affect the Market Growth and Stringent Regulations and Trade Restrictions in Some Countries
Opportunities:
Rapid Growth of Tire Manufacturing Industry in Developing Economies Such As China and India
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Carbon Black Manufacturers, Suppliers & Distributors, Tire Manufacturers and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others