Carbon Black Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Carbon Black Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Carbon Black Market


The Carbon Black market size was valued at USD 27.44 billion in 2023, and the market is now projected to grow from USD 28.76 billion in 2024 to USD 41.28 billion by 2032, exhibiting a CAGR of 4.6 % during the forecast period of 2024-2032.

The COVID-19 pandemic drastically impacted the Carbon Black Market growth, disrupting supply chains and inflicting closures of manufacturing plants international. This caused decreased demand for tires, ensuing in low income of carbon black in 2020 as movement of both people and materials was severely restricted.

The Carbon Black market share is growing at a fast pace mainly due to the growing demand coming from such sectors as automotive, electronics, consumer goods and construction. Rubber especially is made use in wire, tiers, hose, air springs, home windows, belt, and gaskets. Carbon black, a black powder used in rubber compounds, is lineament, accelerates vulcanization process, and promotes efficient heat dissipation in tires, thereby enhancing their lifetime. Enhancement adoption levels of products containing rubber, particularly in tires, will draw the global marketplace ahead.

Primarily employed as conductive filler, pigment, and reinforcing agent in plastics, this product finds extensive application in manufacturing numerous plastic items like business luggage, pipes, photographic containers, films, and stretch wrap. Its recognition stems from its antistatic attributes, thermal conductivity, and robustness. Moreover, it serves as a UV light absorber, safeguarding plastic towards discoloration, chalking, fading, and cracking. These flexible homes make it a sought-after aspect in plastic production, imparting both useful and aesthetic upgrades to a wide variety of products.

Comprehensive Analysis of Carbon Black Market

The Carbon Black Market and Chemicals & Advanced Materials industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Process Type Analysis, by Grade Analysis, and by Application Analysis. The Process Type Analysis includes furnace black, acetylene black, thermal black, and others. The Grade Analysis includes specialty grade and standard grade. However, the Application Analysis includes tire, non-tire rubber, inks & toners, plastics, and others.

The North America region lead the Carbon Black market by benefitting a market size of USD 15.87 billion in 2023 due to growing use of the product in tire and plastic items manufacturing. Furthermore, rising research & development sports, coupled with advancements in the product, will raise the consumption of the product inside the region.

The key players in the market play a crucial role in the Chemicals & Advanced Materials industry assuring industrial prospectus growth and setting market standards. These players include, Birla Carbon Thailand Public Co. Ltd. (Thailand), Cabot Corporation (U.S.), Orion Engineered Carbons SA (Germany), Phillips Carbon Black Limited (India), CSRC Group (Taiwan), Omsk Carbon Group (Germany), OCI COMPANY Ltd. (South Korea), Himadri Speciality Chemicals Ltd. (India), Longxing Chemical Industry Co., Ltd. (China), Mitsubishi Chemical Holdings Corporation (Japan)these market players provide a level-playing competitive landscape.

In May 2023, Orion Engineered Carbons expands its production capability for gas black in Germany in 2023. With this capacity enlargement, the agency bolstered its leadership in the specialty carbon black marketplace.

Segmentation Table
 
Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.6% from 2024-2032

Unit Volume (Million Ton), Value (USD Billion)

Segmentation

By Process Type

Furnace Black

Thermal Black

Acetylene Black

Others

By Grade

Standard Grade

Specialty Grade

By Application

Tire

Non-Tire Rubber

Inks & Toners

Plastics

Others

By Region

North America (By Process Type, By Application, By Grade, and By Country)

-U.S. (By Application)

-Canada (By Application)

Europe (By Process Type, By Application, By Grade, and By Country)

-Germany (By Application)

-France (By Application)

-U.K. (By Application)

-Italy (By Application)

-Spain (By Application)

-Russia (By Application)

-Rest of Europe (By Application)

Asia Pacific (By Process Type, By Application, By Grade, and By Country)

-China (By Application)

-Japan (By Application)

-India (By Application)

-Thailand (By Application)

-Indonesia (By Application)

-Rest of Asia Pacific (By Application)

Latin America (By Process Type, By Application, By Grade, and By Country)

-Brazil (By Application)

-Mexico (By Application)

-Argentina (By Application)

-Rest of Latin America (By Application)

Middle East & Africa (By Process Type, By Application, By Grade, and By Country)

-GCC (By Application)

-South Africa (By Application)

-Rest of Middle East & Africa (By Application)