Carbon Black Market Size & Share | Industry Growth & Trends 2028

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Carbon Black Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Acetylene Black, Channel Black, Furnace Black, Thermal Black, and Others), Grade (Standard Grade and Specialty Grade), and Application (Tire, Non-Tire Rubber, Plastics, Inks & Coatings, and Others)

Publication Month: Feb 2023 | Report Code: TIPRE00009517 | No. of Pages: 175 | Category: Chemicals and Materials | Status: Published

The carbon black market size is expected to grow from US$ 13,620.57 million in 2022 to US$ 18,514.57 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2022 to 2028.

Carbon black plays a significant role in developing high-performance electrical and mechanical properties for tough elastic polymeric substances such as rubber. Thus, carbon black is widely used to manufacture reinforcing and pigment phases in automobile tires due to its ability to increase tire life by reducing thermal damage. Materials used in manufacturing car tires are considered a major factor in automotive design's comfort and safety aspects. Carbon black is an additive in the rubber used to manufacture tires that significantly improves tensile strength and abrasion resistance when compounded into the polymer matrix.

In 2022, in terms of revenue, Asia Pacific dominated the carbon black market share and is estimated to register the highest CAGR during the forecast period. This can be attributed to the increased plastic usage in key end-use industries such as automotive, conductive polymers, construction, and packaging. The rapidly growing industry for electric vehicles with special tire requirements is aiding both the tire and carbon black industries. Increased polymer and tire manufacturing is a major contributor to the carbon black market expansion during the forecast period in Asia Pacific countries such as China, India, South Korea, Thailand, Vietnam, and Malaysia.

Strategic Insights

Report Coverage - Carbon Black Market
Report CoverageDetails
Market Size Value inUS$ 13,620.57 million in 2022
Market Size Value byUS$ 18,514.57 million by 2028
Growth rateCAGR of 5.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages175
No. of Tables89
No. of Charts & Figures81
Historical data availableYes
Segments coveredType, Grade, and Application
Free Sample Copy Available

Impact of COVID-19 Pandemic on Carbon Black Market

Before the onset of the COVID-19 pandemic, the demand for carbon black was mainly driven by rubber factories, automobile, printing, and packaging industries. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The pandemic led to social restrictions and severe economic impact, hampering carbon black manufacturing and distribution. The decline in the growth of the automotive industry significantly impacted the demand for carbon black in the global market. The global automotive industry was severely affected due to the COVID-19 pandemic. The impacts of the COVID-19 pandemic also led to a dramatic decline in automotive sales. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of all types of vehicles decreased from 91,227 million in 2019 to 78,774 million in 2020. This negatively impacted the demand for carbon black.

In 2021, the economies started reviving their operations, and various industries resumed business activities. As a result, several industries, including the automotive industry, witnessed a recovery in their operations. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of all types of vehicles grew from 78,774 million in 2020 to 82,684 million in 2021. Thus, increased sales of vehicles increased demand for tires, which bolstered the requirement for carbon black.

Carbon Black Market Breakdown, by Region

Carbon Black Market Breakdown, by Region

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Market Insights

Strategic Developments by Key Players Favor Carbon Black Market Growth

In October 2021, Cabot Corporation announced the launch of VULCAN 3-LP carbon black, a new low polycyclic aromatic hydrocarbon (PAH) product for rubber applications. VULCAN 3-LP carbon black is the fourth product in the Cabot LP carbon black series, which provides carbon black products for use in applications such as consumer rubber goods and food and potable water contact applications that require a controlled, very low PAH content. Such strategic developments by key players are expected to bolster the carbon black market growth. In addition, a few key players are involved in strategies such as mergers and acquisitions to expand their geographical presence.

Grade-Based Insights

Based on grade, the carbon black market is bifurcated into standard grade and specialty grade. The specialty grade segment is expected to register the highest CAGR during the forecast period. Specialty carbon black is extensively used in the plastic industry for various end-use applications such as agricultural films, electrostatic discharge (ESD) plastics, plastic film & sheet applications, plastic pressure pipes, molded parts, food contact applications in plastics, automotive parts, wires & cables, and conductive plastics. Specialty carbon black is superior in dispersibility, tinting strength, conductivity, and UV resistance. These characteristics of specialty carbon black benefit plastics in delivering crucial functionality to corresponding end-user performance requirements. These factors are anticipated to propel specialty grade carbon black growth.

Carbon Black Market, by Grade – 2022 and 2028

Carbon Black Market, by Grade – 2022 and 2028

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Application-Based Insights

Based on application, the carbon black market is divided into tire, non-tire rubber, plastics, inks and coatings, and others. The tire segment is expected to register the highest CAGR during the forecast period. Carbon black is used in various formulations with different rubber types to customize the performance properties of tires. It plays a key role in improving properties important to tire manufacturing and tire performance, increasing tire life, and expanding fuel economy. A huge amount of carbon black is used in tires as excellent rubber reinforcement. In addition, the resistance of carbon black to ultraviolet (UV) radiation and its function as an ozone scavenger help stabilize the tire rubber against UV light and oxidation and prevents the rubber tire from fissuring or cracking. The addition of carbon black avoids electrostatic charging and helps conduct heat away from certain hot spots on the tire, specifically in the tread and belt areas. This assists in reducing thermal damage to the tire and extending its lifespan.

HiiROC Ltd, Black Bear Carbon BV, Klean Industries Inc., Delta Energy LLC, OMSK Carbon Group Ltd, Imerys SA, Cabot Corp, Tokai Carbon Co Ltd, Orion Engineered Carbons SA, and China Synthetic Rubber Corp are among the major players operating in the carbon black market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.

Report Spotlights

  • Progressive industry trends in the carbon black market to help companies develop effective long-term strategies
  • Business growth strategies adopted by the carbon black market players in developed and developing countries
  • Quantitative analysis of the market from 2020 to 2028
  • Estimation of global demand for carbon black
  • Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the carbon black industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the carbon black market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
  • Size of the carbon black market at various nodes
  • Detailed overview and segmentation of the market and growth dynamics of the carbon black industry
  • Size of the carbon black market in various regions with promising growth opportunities

Frequently Asked Questions

The major players operating in the global carbon black market are Imerys SA; Cabot Corp; Tokai Carbon Co Ltd; Orion Engineered Carbons SA; China Synthetic Rubber Corp; amongst others.
The rising need for green alternatives with shift towards sustainability, is expected to provide lucrative growth opportunities to the global carbon black market during the forecast period.
Based on the type, the furnace black segment accounted for the largest revenue share. Due to high yield and wide control over properties such as particle size or structure, furnace black process is suitable for mass production. Therefore, this factor is expected to boost the furnace black segment growth.
Asia Pacific accounts for the largest share of the global carbon black market. The increasing investments by leading automotive OEMs and rising EV manufacturing capabilities in Asia Pacific are propelling the demand for conventional and electric vehicles in the region. The growth of the tire industry in Asia Pacific is attributed to the growing automotive industry in the region.
Based on grade, specialty grade is expected to be the fastest-growing segment. Specialty grade carbon black is an important industrial raw material incorporated in the production processes across various industries, including polymer, printing, and coating industries. Thus, wide range of applications is driving the segment’s growth.
Growing automotive tire sector in developing economies and increasing demand for specialty carbon black are some of the key driving factors for the carbon black market.

The List of Companies - Carbon Black Market

  1. HiiROC Ltd
  2. Black Bear Carbon BV
  3. Klean Industries Inc
  4. Delta Energy LLC
  5. OMSK Carbon Group Ltd
  6. Imerys SA
  7. Cabot Corp
  8. Tokai Carbon Co Ltd
  9. Orion Engineered Carbons SA
  10. China Synthetic Rubber Corp
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global carbon black market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global carbon black market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the carbon black market as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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