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 projected to be valued at USD 4.56 billion by the year 2027.
 

Increasing product usage in tire manufacturing as well as surging vehicle production, in consort with high rate of tire replacement are the major growth driving factors 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 leveraged for mass production due to its high yield rates. It involves part-combustion of coal oil or petroleum oil as raw material into high temperature gases.
 

On the basis of grade, the N550 grade segment is anticipated to record 5.9% CAGR over the forecast period, due to extensive utilization in the production of tire & rubber goods.
 

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

Meanwhile, the printing application is expected to be worth 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 verticals is bolstering the demand for carbon black as printing ink as it is highly efficient tinting material with resistance to light, temperature, and chemicals.
 

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