Carbon Black

Carbon Black

Global Carbon Black Market to Reach US$21.5 Billion by 2030

The global market for Carbon Black estimated at US$16.1 Billion in the year 2023, is expected to reach US$21.5 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030. Furnace Black, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$9.6 Billion by the end of the analysis period. Growth in the Channel Black segment is estimated at 4.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.4 Billion While China is Forecast to Grow at 7.1% CAGR

The Carbon Black market in the U.S. is estimated at US$4.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.1% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Global Carbon Black Market - Key Trends and Drivers Summarized

Carbon black is a fine, black powder produced through the incomplete combustion of heavy petroleum products such as fluid catalytic cracking (FCC) tar, coal tar, or ethylene cracking tar. It is predominantly composed of elemental carbon and is used extensively as a reinforcing filler in rubber products, most notably in the tire industry. The unique properties of carbon black, including its high surface area-to-volume ratio and its ability to significantly enhance the tensile strength and abrasion resistance of rubber, make it indispensable for improving the durability and performance of tires. Beyond its primary use in tires, carbon black is also utilized in the production of various automotive components such as belts, hoses, and gaskets, as well as in a wide array of industrial rubber goods. Additionally, carbon black serves as a crucial black pigment in inks, coatings, and plastics, where it provides essential characteristics such as coloration, UV protection, and conductivity.

Technological advancements have significantly shaped the development and optimization of carbon black production processes. Innovations such as the furnace black process, the thermal black process, and the acetylene black process have markedly improved the efficiency and quality of carbon black production. The furnace black process, which involves the controlled combustion of hydrocarbons, allows manufacturers to produce a wide range of carbon black grades with varying particle sizes and surface areas, tailored to different applications. For instance, carbon black produced via the thermal black process is known for its larger particle size and lower surface area, making it ideal for specific rubber and plastic applications. Similarly, the acetylene black process produces carbon black with high electrical conductivity, suitable for use in conductive polymers and battery materials. These technological advancements have broadened the application scope of carbon black, enabling its use in high-performance coatings, conductive polymers, and advanced battery materials. Furthermore, the development of specialty carbon blacks with enhanced properties has opened new avenues in emerging technologies, such as electronics, renewable energy, and high-performance materials.

The growth in the carbon black market is driven by several factors. The increasing demand for automobiles, particularly in emerging economies, has significantly boosted the tire industry, which in turn drives the demand for carbon black as a reinforcing filler. The automotive industry`s expansion, fueled by rising incomes and urbanization in countries such as China, India, and Brazil, has led to higher production of vehicles, thereby increasing the need for high-quality tires that incorporate carbon black. Technological advancements in production processes have led to the development of high-performance carbon blacks that meet the stringent requirements of modern applications, such as conductive materials for electronics and high-durability coatings for industrial use. Additionally, the rising adoption of electric vehicles (EVs), which require specialized tires and components that can handle different performance demands, has further propelled market growth. Environmental regulations and sustainability concerns have prompted manufacturers to innovate and develop cleaner production methods and eco-friendly carbon black products. Efforts to reduce carbon emissions and improve energy efficiency in manufacturing processes are increasingly important, driving the shift towards more sustainable practices in the carbon black industry. The expansion of infrastructure projects and the growth of the construction industry have also contributed to the increased demand for carbon black in coatings, sealants, and other construction materials, as these applications benefit from the durability and protective qualities provided by carbon black.

Select Competitors (Total 22 Featured) -

• Asahi Carbon Co., Ltd.
• Cabot Corporation
• China Synthetic Rubber Corporation (CSRC)
• Himadri Speciality Chemicals Ltd.
• Longxing Chemical
• Mitsubishi Chemical Corporation
• OCI Co., Ltd.
• Omsk Carbon Group OOO
• Orion Engineered Carbons SA
• Phillips Carbon Black Ltd.
• PrJSC "Kremenchug Carbon Black Plant"
• Ralson Goodluck Carbon Pvt., Ltd.
• Shandong Huadong Rubber Materials Co., Ltd.
• Suzhou Baohua Carbon Black Co., Ltd.
• Thai Carbon Black Public Company Limited (Birla Carbon)
• Tokai Carbon Co., Ltd.

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