Global Carbon Black Market By Type (Furnace Black, Channel Black, and Others), By Grade (Standard Grade, Specialty Grade), By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

In 2022, the global carbon black market was valued at USD 13.2 Bn. and expected to grow around USD 21.7 Bn by 2032 between 2023 and 2032, this market is estimated to register the highest CAGR of 5.1%.

Carbon black is a type of Para crystalline carbon containing 95% pure carbon that improves the physical and mechanical properties of materials, making the final product more effective. Carbon black is mainly used in the manufacture of plastics products, printing inks, tires, mechanical rubber and toners.

It finds its primary use in wire and cable insulation because it can absorb ultraviolet light and convert it to heat. In addition, it is used in the manufacture of a wide range of rubber products and pigments. Carbon black an inexpensive rubber reinforcing agent used in tires.

Drivers:

Rapid Growth in Rubber Industry to Propel Market Growth

The global carbon black industry is driven by the significant use of carbon black in tire industry, growing use in industries such as construction, manufacturing and printing. Important markets for tires outside of China are Europe, America, India and Japan. Steady growth in car ownership is also supporting the industry as it contributes to increased demand for tires.

Carbon black demand is expected to grow in the automotive industry, mainly in emerging countries such as China and India. India is, Asia’s leading carbon black industry after China, and it is projected to become the third largest automotive industry by 2022. Rising demand for replacement tires in countries such as the United States and China also supports the driving carbon black market.

Increasing Use of Specialty Carbon Black in Emerging Countries Driving the Market Growth

Increasing end-uses for specialty carbon black products are driving the growth of the carbon black industry, especially in developed countries like the United States. Carbon black products are used in segments such as sealants, adhesives and coatings and are expected to drive market growth.

As a result of infrastructure developments around the world is also anticipated to drive demand for carbon black across the world. Increasing penetration of carbon black products in emerging markets such as China, Southeast Asia, Middle East and South America will continue to drive the growth of the global carbon black industry.

Use of Carbon Black in Construction and Manufacturing Industries Driving the Market

Carbon black is used in the deep black paint and coatings industry to act as a protective coating for a variety of products. Apart from that, the demand for carbon black in the construction industry is increasing because the mixture of carbon black and cement improves surface hardness, uniformity, compressive strength, and tensile strength. Thus large use of carbon black in manufacturing industries is expected to drive carbon black market.

Restraints

Fluctuations in Raw Material Prices and Increasing Governmental Regulations

Fluctuating raw material prices, increasing use of alternative silica and environmental concerns related to carbon black production are expected to restrain the growth of the market in the coming years. Carbon black production releases hazardous gases including sulfur dioxide, nitrogen oxides, carbon dioxide, carbon monoxide, and other particles that can harm expanding growth of carbon black market. Also increasing governmental regulation restrains the market growth.

COVID-19 Impact Analysis

Disruption in Supply Chain and Shortage of Raw Materials

To a certain extent, the COVID-19 pandemic disrupted the delivery of raw materials worldwide, particularly in low and middle-income countries. Various industries, such as manufacturing, automotive, plastic, construction, etc., were adversely impacted.

All industries and production sectors were closed, affecting supply chains. Major countries such as India, Germany, China and the UK had a negative impact on product demand. However, the ongoing opening up of numerous productions has directed to a steady development in demand in the global carbon black market.

Type Analysis

Furnace Segment is Dominant

Based on type, the market for carbon black is segmented into channel black, acetylene black, , thermal black, furnace black, and others. The furnace black segment is the largest contributor to the market. Furnace black carbon is use to increase blackening process for rubber and reinforcement of rubber is expected to drive market growth.

Also, furnace black carbon is used to produce color pigment in cosmetics and its increasing usage is expected to further drive the growth of the market. Thermal black section is also expected to drive market in forecast period. Thermal black is UV absorbent so it has large requirement in the plastic industries. Thermal black is also used in rubber based adhesives.

Acetylene black have high purity and extreme conductivity aid its usage in production of silicon products, dry cells, and electric power cables. Channel black is obtained as soot by impingement of small natural gas flames on metal surface. Acetylene black is produced from the acetylene gas using thermal decomposition method

Grade Analysis

Specialty Grade Segment is Dominant

By grade carbon black is classified into standard grade, and specialty grade. Specialty grade segment is dominant as Specialty grade carbon black is an important industrial raw material, which is incorporated into the production processes of various industries, including the polymers, printing and coating industries.

Specialty carbon blacks are distinguished by their strengthening, electrical conductivity, dispensability, and UV resistance. Rising demand from other end-use industries such as consumer goods, construction, and automotive is expected to boost the demand for specialty grades.

A growing manufacturing sector is expected to drive the consumption of specialty grades during the forecast period. N772 is standard grade carbon black with low surface area and low structure. At comparable load, it offers minimal latency, high resiliency compared to N774, N660. This grade is suitable for heavy-duty general-purpose industrial rubber products.

Application Analysis

Application in Tire Rubber is Dominant

Based on application of carbon black market is classified into tire, non-tire rubber, inks and coatings, plastics, and others. Tires segment was the highest contributor of the market in 2022. The best known use of carbon black (70%) is as a pigment and reinforcement in tires.

Carbon black helps to draw heat away from the tread and belt of tires, while helping to reduce heat damage and increase tire life. As the demand for vehicles increases, the automotive market is expected to grow significantly. This factor is expected to drive demand for carbon black, especially in tires and seat belts.

Non-tire segment is expected to grab market as a strengthening agent and shock absorbent in the production of various industrial rubbers products. Carbon black is use in Industrial rubber products like rubber roofing, gaskets, cables, rubber mats.

The demand for carbon black from inks and coatings industries, paints, and plastic manufacturing industries due to consumer’s preference to black colored products. High consumption in manufacturing industries anticipated to drive carbon black market.

Carbon Black Market Key Segments:

Based on Type

• Furnace Black
• Channel Black
• Thermal Black
• Acetylene Black
• Others

Based on Grade

• Standard Grade
• Specialty Grade

Based on Application

• Tire Rubber
• Non-Tire Rubber
• Inks and Coatings
• Plastics
• Others

Opportunity

Increasing Use in Automotive Industries and Increasing Research and Development Facilities

The carbon black industry is also boosting due to growing automotive industries, construction industries in several emerging economies such as Brazil, India, South Africa, and China. The rapidly increasing geriatric population, rising per capita incomes, high car owning volumes are driving the need for enhancing the carbon black industries in these nations.

Therefore, the governments in these economies are increasing their investments aimed at improving facilities & infrastructure. Owing to the high number of applications of carbon black products in plastic industries, pain industries, automotive industries the rising investment in this industry is slated to offer growth opportunities in the market.

Trends

Competitive Landscapes of manufacturers in Carbon Black industries

Manufacturers are now more inclined toward raw material procurement at competitive pricing. Raw material procurement involves engaging in long-term supply contracts with raw material suppliers. Some independent manufacturers hire third-party suppliers to sell their products.

Carbon black manufacturers are increasingly focused on product innovation and differentiation as they are steadily moving toward consolidation through mergers & acquisitions, joint ventures, and collaborative partnerships. Such trends are currently being witnessed in this market, thereby bolstering the demand for carbon black products in the process.

Regional Analysis

Asia Pacific Region Holds Largest Market size in Carbon Black Market

Asia Pacific is estimated to be the most lucrative market in the global carbon black market, with the largest market share of 33.8%, and is expected to register a CAGR of 8.1% during the forecast period. Growth in this region can be attributed to increased plastic consumption in key end-use industries, such as construction, automotive, conductive polymers and packaging.

The increase in polymer production in China, India and Southeast Asian countries such as Korea, Thailand, Malaysia and Vietnam is expected to remain the main driving force behind the growth of these markets. area during the forecast period.

Economic growth in North America expanding the automotive industries, polymer industries and manufacturing industries are likely to gain high carbon black product demand in this region. Europe region will show significant growth in carbon black market during forecast period as strong demand in textile industries.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Recent Developments:

• In June 2022, ADNOC Distribution signed a new carbon black supply to increase their market in carbon black
• In March 2022, Cabot Corporation acquired Tokai Carbon Group and takeover its carbon black manufacturing facilities in China.
• In February 2022, Orion Engineered Carbons opened a new production of carbon black in Italy.

Market Share & Key Players Analysis:

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several carbon black market companies are concentrating on expanding their existing operations and R&D facilities.

Furthermore, businesses in the carbon black market are developing new products and portfolio expansion strategies through investments and mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies such as improving products quality, which is boosting the target products’ growth.

Listed below are some of the most prominent carbon black industry players.

Market Key Players:

• Birla Carbon
• Cabot Corporation
• Continental Carbon Company
• Orion Engineered Carbons S.A.
• PCBL Limited
• Mitsubishi Chemical Corporation
• Jiangxi Black Cat Carbon Black Co. Ltd.
• Tokai Carbon Co. Ltd.
• Longxing Chemical Stock Co. Ltd
• Omsk Carbon Group
• Atlas Organics Private Limited
• Continental Carbon Company
• Himadri Speciality Chemical Ltd
• Philips Carbon Black Limited
• Orion Engineered Carbons GmbH
• Other Key Players

Report Scope: