Carbon Black Global Market Report 2024

Carbon black, a fine elemental carbon powder produced through high-temperature pyrolysis of low-value oil residues, serves as a protective coating in plastics and resistors for electronic circuits. It reinforces rubber in tires and acts as a pigment, UV stabilizer, and conductive or insulating agent in rubber, plastic, ink, and coating applications.

Carbon black comprises several types including furnace black, channel black, thermal black, acetylene black, and others. Furnace black carbon specifically results from partially burning liquid and gaseous hydrocarbons in enclosed furnaces. This type of carbon black finds extensive use in rubber-based products. It's available in various grades such as standard and specialty, applied across diverse applications such as tire manufacturing, non-tire rubber products, inks, coatings, plastics, and more.

The carbon black market research report is one of a series of new reports from The Business Research Company that provides carbon black market statistics, including carbon black industry global market size, regional shares, competitors with a carbon black market share, detailed carbon black market segments, market trends, and opportunities, and any further data you may need to thrive in the carbon black industry. This carbon black market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The carbon black market size has grown strongly in recent years. It will grow from $17.83 billion in 2023 to $19.32 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. Historical growth was spurred by increased tire manufacturing, growth within the automotive industry, the production of rubber goods, expansion in the construction sector, and the demand for printing inks and toners.

The carbon black market size is expected to see strong growth in the next few years. It will grow to $26.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Anticipated growth in the upcoming period is tied to the development of emerging economies, the expanding applications of specialty carbon black, adherence to stringent emission standards, and the growth of consumer electronics. Major trends expected in this forecast period encompass technological advancements in production processes, the integration of carbon black into plastics, the adoption of water-borne carbon black dispersions, strategic mergers and acquisitions within the industry, and the emergence of smart packaging trends.

The anticipated growth of the automotive industry is poised to significantly drive the expansion of the carbon black market. The automotive sector encompasses the manufacturing and sale of various types of vehicles. Carbon black, a crucial component, finds extensive usage in manufacturing tire inner liners, sidewalls, and treads due to its inherent properties that enhance tire strength and durability. Its incorporation into tires significantly contributes to improving their processing, strength, and overall performance. For instance, as reported by Plastic Today, a US-based plastics processing company, the utilization of carbon fibers within the US automotive industry is projected to surge to nearly 9,800 tons by 2030. This substantial increase in the use of carbon fibers highlights the industry's reliance on materials such as carbon black to optimize tire performance, meet industry standards, and ensure enhanced durability. As the automotive industry continues to innovate and evolve, the demand for carbon black is expected to grow steadily, primarily driven by its pivotal role in enhancing tire quality and performance, thereby fueling the expansion of the carbon black market.

The anticipated upsurge in construction activities is expected to significantly drive the growth trajectory of the carbon black market. Construction activities encompass a broad spectrum of planning, execution, and assembly within infrastructure and structural projects. Carbon black serves as a vital component in construction applications, playing a pivotal role in enhancing the durability, strength, and UV resistance of materials such as concrete, asphalt, and various building components. For example, as reported by the Office for National Statistics, a UK-based government department, the annual construction output in the UK witnessed a notable increase of 5.6% in 2022 compared to the previous year. This followed an exceptional growth of 12.8% in 2021. The continued expansion in construction activities underscores the sector's reliance on materials such as carbon black to bolster the quality and longevity of construction materials and infrastructure. Carbon black's incorporation contributes significantly to improving the performance and resilience of building materials, ensuring they meet stringent quality standards and withstand environmental factors such as UV exposure. As construction activities continue to surge, driven by infrastructure development and building projects, the demand for carbon black is anticipated to rise, cementing its pivotal role in enhancing the durability and performance of construction materials and driving growth in the carbon black market.

The companies operating in the black carbon market are collaborating on the production of black carbon for their industrial uses. For instance, in December 2021, Monolith, a US-based firm that manufactures carbon black products, partnered with Goodyear, a US-based company manufacturing tires and rubber. With this partnership, Monolith aims to start its construction on the expanded Olive Creek facility and will produce 194,000 tons of cleanly made carbon black by 2025. Furthermore, in April 2022, Origin Materials Inc., a US-based carbon-negative materials company, partnered with Mitsubishi Chemical Holdings Group (MCHG), a Japan-based company manufacturing carbon black. This collaboration creates cutting-edge carbon materials for tire manufacture, allowing for the adoption of the original technology and assisting in the shift to sustainable materials in the automobile sector.

Companies in the carbon black market are focused on developing innovative products, such as pelletized reinforcing carbon black, for enhanced rubber product safety and to gain a competitive edge in the market. A pelletized reinforcing carbon black is a form of carbon black engineered into pelletized particles for enhanced handling and efficient incorporation into rubber products during manufacturing. For instance, in October 2021, Cabot Corporation, a US-based specialty chemicals and performance materials company, launched VULCAN 3-LP carbon black, an addition to its LP carbon black series, designed for rubber applications requiring low polycyclic aromatic hydrocarbon (PAH) content. This pelletized reinforcing carbon black offers enhanced reinforcement, strength, abrasion, and tearing resistance for end-use rubber products, meeting stringent regulatory requirements. Positioned for consumer rubber goods, food contact applications, and potable water contact, VULCAN 3-LP complies with global standards limiting PAH content in specific rubber applications.

In March 2022, Cabot Corporation, a leading US-based entity specializing in specialty chemicals and performance materials, completed the acquisition of Tokai Carbon (Tianjin) Co., Ltd., a Japanese company renowned for its production and distribution of carbon black. The acquisition was executed for an undisclosed sum and was strategically focused on enhancing Cabot Corporation's battery materials portfolio. By incorporating Tokai Carbon (Tianjin) Co., Ltd into its operations, Cabot Corporation aimed to reinforce its position within the battery materials sector. This acquisition signifies Cabot Corporation's strategic endeavor to expand and diversify its portfolio, leveraging the expertise and resources of Tokai Carbon (Tianjin) Co., Ltd to further augment its offerings in the field of carbon black and related materials.

Major companies operating in the carbon black market report are BASF SE, Dow Inc., Mitsubishi Chemical Holdings, China Synthetic Rubber Corp., International CSRC Investment Holdings Co. Ltd., NNPC Limited, OCI Company Ltd., Jiangxi Black Cat Carbon Black Co. Ltd., Nouryon, Cabot Corporation, Imerys S.A., Tokai Carbon Co. Ltd., Orion Engineered Carbons SA, Koppers Inc., BKT Carbon, ADNOC Group, Phillips Carbon Black Limited, Asahi Carbon Co. Ltd., Longxing Chemical Stock Co. Ltd., Himadri Speciality Chemical Limited, Thai Carbon Black Public Company Limited, Birla Carbon Public Company Limited, PCBL Limited, DCL Corporation, Continental Carbon Company, Pyrolyx AG, Sid Richardson Carbon & Energy Co., Epsilon Carbon Private Limited, Omsk Carbon Group, Black Bear Carbon, Monolith Inc.

Asia-Pacific was the largest region in the carbon black market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon black market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the carbon black market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The carbon black market consists of sales of forms of carbon black including lampblack and ivory black. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Carbon Black Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on carbon black market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for carbon black ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The carbon black market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Furnace Black; Channel Black; Thermal Black; Acetylene Black; Other Types
• 2) By Grade: Standard Grade; Specialty Grade
• 3) By Application: Tire; Non-Tire Rubber; Inks and Coating; Plastic; Other Applications
• Companies Mentioned: BASF SE; Dow Inc.; Mitsubishi Chemical Holdings; China Synthetic Rubber Corp.; International CSRC Investment Holdings Co. Ltd
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.