Carbon Black Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Carbon Black Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global carbon black market size reached US$ 16.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028. The increasing demand for carbon black in the rubber industry, rising utilization in manufacturing paints and coatings, and the increasing adoption in the plastic industry represent some of the key factors driving the market.

Carbon black refers to the finely divided forms of amorphous carbon that are manufactured through the thermal decomposition of heavy petroleum products, such as coal tar and ethylene cracking tar. It comprises carbon and small amounts of oxygen, hydrogen, sulfur, and nitrogen. It is spherical in shape and provides high viscosity and enhanced electrical conductivity. It assists in increasing the wear and tear resistance of the products while strengthening the rubber. It also acts as a pigment, ultraviolet (UV) stabilizer, and a conductive or insulating agent. As a result, carbon black finds application in the rubber, paint and coating, packaging, and plastic industries across the globe.

Carbon Black Market Trends:
At present, the rising demand for carbon black in the rubber industry as a filler in tires due to enhanced physical characteristics, improved strength and longevity, and reduced thermal stress around the world represents one of the primary factors supporting the growth of the market. Besides this, the growing utilization of carbon black in automotive rubber parts, such as sealing systems, hoses, anti-vibration parts, and engine mounts, worldwide is offering a positive market outlook. Additionally, there is a rise in the demand for carbon black as it protects the polymer from ultraviolet (UV) degradation, reduces the cost of the polymer, and enhances the conductivity of plastic around the world. This, coupled with the increasing utilization of carbon black in the plastic industry to produce numerous plastic products, such as pipes, films, stretch wraps, photographic containers, and industrial bags, is propelling the growth of the market. Apart from this, the rising adoption of carbon black in the paint and coating industry as a black pigment to achieve a spectrum ranging from gray to deep black across the globe is offering lucrative growth opportunities to industry investors. Moreover, various benefits offered by carbon black, such as color stability, solvent resistance, and thermal stability, are bolstering the growth of the market. Furthermore, key players are introducing a renewable carbon black product for rubber applications that are manufactured using plant-based oils of industrial-grade that are non-fossil derived feedstock, which is strengthening the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global carbon black market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, grade and application.

Type Insights:

Furnace Black
Channel Black
Thermal Black
Acetylene Black
Others

The report has provided a detailed breakup and analysis of the carbon black market based on the type. This includes furnace black, channel black, thermal black, acetylene black, and others. According to the report, furnace black represented the largest segment.

Grade Insights:

Standard Grade
Specialty Grade

A detailed breakup and analysis of the carbon black market based on the grade has also been provided in the report. This includes standard grade and specialty grade. According to the report, standard grade accounted for the largest market share.

Application Insights:

Tire
Non-Tire Rubber
Plastics
Inks and Coatings
Others

A detailed breakup and analysis of the carbon black market based on the application has also been provided in the report. This includes tire, non-tire rubber, plastics, inks and coatings, and others. According to the report, tire accounted for the largest market share.

Regional Insights:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for carbon black. Some of the factors driving the Asia Pacific carbon black market included the growing utilization of black carbon in the automotive industry, rising employment in the construction industry, increasing production due to the wide availability of low-cost feedstock, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global carbon black market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Cabot Corporation, Thai Carbon Black Public Company Limited (Birla Carbon), Orion Engineered Carbons S.A., Phillips Carbon Black Limited, Tokai Carbon Co., Ltd., Omsk Carbon Group OOO, Jiangxi Black Cat Carbon Black Inc., Ltd., OCI Company Ltd., China Synthetic Rubber Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global carbon black market in 2022?
2. What is the expected growth rate of the global carbon black market during 2023-2028?
3. What are the key factors driving the global carbon black market?
4. What has been the impact of COVID-19 on the global carbon black market?
5. What is the breakup of the global carbon black market based on the type?
6. What is the breakup of the global carbon black market based on the application?
7. What are the key regions in the global carbon black market?
8. Who are the key players/companies in the global carbon black market?