According to the research report titled ‘Europe Carbon Black Market Forecast 2027 By Process, By Grade, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe carbon black market is expected to be worth USD 4.56 billion by the year 2027.

Rising product utilization in tire production, increasing vehicle manufacturing, and a high rate of tire replacement are the major growth determinants for Europe carbon black market.

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For the unversed, carbon black is the most widely used and cost-effective reinforcing materials available. It plays an important role in improving tire performance by preventing electrostatic charging and by transmitting heat away from the tire's hot portions, particularly the tread and belt sections.

In terms of process, the furnace black segment is predicted to expand at a CAGR of 6% through 2027, as the process is used for mass production because of its high yield rate.

On the basis of grade, the N550 grade segment is anticipated to record 5.9% CAGR over the forecast period, due to widespread usage in the production of tires and rubber goods.

Based on application spectrum of Europe carbon black market, tires & rubber goods segment is slated to reach a valuation of USD 3.6 billion by the year 2027.

Meanwhile, the printing application is anticipated to reach a valuation of USD 115 million by 2027, on account of usage of carbon black for newspaper inks, flexography, offset printing, and letterpress. Increasing trend of advertising across food, retail, electronics, and beverage sectors is boosting the demand for carbon black as printing ink since it is a highly efficient tinting material with resistance to light, temperature, and chemicals.

Competitively speaking Tokai Carbon Co. Ltd., Bridgestone Corporation, Orion Engineered Carbons S.A., Carbon Black Kft., Phillips Carbon Black Limited, OJSC Kremenchug Carbon Black Plant, Dynamic Adsorbents, Inc., Cabot Corporation, Continental Carbon Company, and Birla Carbon are the leading players in Europe carbon black industry.