Carbon Black Market, By Type, By Application, By Grade, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Carbon Black Market size was valued at USD 21,987.23 Million in 2023, expanding at a CAGR of 5.1% from 2023 to 2030.
In tires and other rubber goods, carbon black serves as a colorant and reinforcing filler. It is also employed as a pigment and wear-protecting component in paints and plastics. Natural gas or oil leftovers are partially burned and pyrolyzed at high temperatures to make carbon black. A nanostructured substance with almost pure carbon content typically more than 95% by elemental composition is carbon black.
Carbon Black Market- Market Dynamics
Increasing demand in tires and rubber products and paints & coating applications is to propel market demand
The increasing demand for rubber and paints & coatings products is mainly boosting the market growth. Partial combustion of various petroleum-based components produces carbon black. For many end-use applications, including consumer goods, cars, appliances, electronics, and more, it is a necessary component. The expanding automobile sector and growing environmental concerns are anticipated to propel the expansion of the U.S. market. High-performance coatings are now more in demand in the automotive, industrial, marine, and aerospace sectors because of the refurbishing trend. Better tensile strength and abrasion resistance are two ways in which the product prolongs the life and strength of tires.
In the global market, China now leads the market in the area, which is expanding at a 5.8% compound annual growth rate, according to the World Paint & Coatings Industry Association. The use of carbon black as a toner in the textile sector and as a pigment in paints and coatings is what also contributes significantly to the nation's needs. Therefore, it is anticipated that the country's textile and paints and coatings sectors will continue to rise and drive market demand.
Carbon Black Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.1% over the forecast period (2024-2030)
Based on Type segmentation, the furnace black segment was predicted to show maximum market share in the year 2023, owing to high production capacity.
Based on Application segmentation, the tires segment was the leading application in 2023, mainly due to increasing demand for tire manufacturing from the automotive industries.
Based on Grade segmentation, the standard grade was the leading Grade in 2023, mainly due to the high demand for plastics and rubber across various industries.
Based on region, Asia Pacific was the leading revenue generator in 2023, owing to the rapid urbanization & industrialization.
Carbon Black Market- Segmentation Analysis:
The Global Carbon Black Market is segmented based on Type, Application, Grade, and Region.
The market is divided into four categories based on Type: furnace black, thermal black, channel black, and others. The sensors segment dominates the market. The technology development and growing need for AE testing in leak detection are likely to contribute to market growth.
The market is divided into five categories based on Application: tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment dominates the market and is likely to maintain its dominance during the forecast period. Rising demand from tire manufacturing and rubber applications is also expected to boost market growth.
The market is divided into seven categories based on Grade: standard grade and specialty grade. The standard grade dominates the market and is likely to maintain its dominance during the forecast period. Further, the specialty grade segment is expected to grow significantly over the forecast period.
Carbon Black Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Carbon Black Market- Competitive Landscape:
To increase their market share, major market players are implementing a variety of inorganic and organic growth methods, including joint ventures, capacity expansion, and mergers and acquisitions. For instance, Tokai Carbon Co., Ltd. and Sekisui Chemical Co., Ltd. formed a strategic alliance in March 2023 to implement Carbon Capture and Utilization (CCU) technology in practical settings. The goal of this agreement was to produce a range of carbon products and materials for the solid carbon capture and storage of carbon dioxide (CO2).
Recent Developments:
In June 2023, Bridgestone Corporation announced the introduction of the development of tire-derived oil and recovered carbon black through the pyrolysis of worn tyres with the support of test units formed at the Bridgestone Innovation Park in Tokyo.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CARBON BLACK MARKET KEY PLAYERS
OMSK Carbon Group
Tokai Carbon Co. Ltd
Sid Richardson Carbon & Energy Co.
Asahi Carbon Co. Ltd.
Ralson Goodluck Carbon
Cabot Corp.
China Synthetic Rubber Corporation
Himadri Companies & Industries Ltd.
Mitsubishi Chemicals
Atlas Organic Pvt. Ltd.
Continental Carbon Co.
OCI Company Ltd.
Birla Carbon
Bridgestone Corporation
Nippon Steel & Sumikin Chemical Co. Ltd.
Others
GLOBAL CARBON BLACK MARKET, BY TYPE
Furnace Black
Channel Black
Thermal Black
Others
GLOBAL CARBON BLACK MARKET, BY APPLICATION
Tire
Non- tire Rubber
Plastics
Inks & Coatings
Others
GLOBAL CARBON BLACK MARKET, BY GRADE
Standard Grade
Specialty Grade
GLOBAL CARBON BLACK MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1.Carbon Black Market Overview
1.1.Study Scope
1.2.Market Estimation Years
2.Executive Summary
2.1.Market Snippet
2.1.1.Carbon Black Market Snippet by Type
2.1.2.Carbon Black Market Snippet by Application
2.1.3.Carbon Black Market Snippet by Grade
2.1.4.Carbon Black Market Snippet by Country
2.1.5.Carbon Black Market Snippet by Region
2.2.Competitive Insights
3.Carbon Black Key Market Trends
3.1.Carbon Black Market Drivers
3.1.1.Impact Analysis of Market Drivers
3.2.Carbon Black Market Restraints
3.2.1.Impact Analysis of Market Restraints
3.3.Carbon Black Market Opportunities
3.4.Carbon Black Market Future Trends
4.Carbon Black Industry Study
4.1.PEST Analysis
4.2.Porter's Five Forces Analysis
4.3.Growth Prospect Mapping
4.4.Regulatory Framework Analysis
5.Carbon Black Market: COVID-19 Impact Analysis
5.1.Pre-COVID-19 Impact Analysis
5.2.Post-COVID-19 Impact Analysis
5.2.1.Top Performing Segments
5.2.2.Marginal Growth Segments
5.2.3.Top Looser Segments
5.2.4.Marginal Loss Segments
6.Carbon Black Market Landscape
6.1.Carbon Black Market Share Analysis, 2023
6.2.Breakdown Data, by Key Manufacturer
6.2.1.Established Players' Analysis
6.2.2.Emerging Players' Analysis
7.Carbon Black Market - By Type
7.1.Overview
7.1.1.Segment Share Analysis, By Type, 2023 & 2030 (%)
7.1.2.Furnace Black
7.1.3.Channel Black
7.1.4.Thermal Black
7.1.5.Others
8.Carbon Black Market - By Application
8.1.Overview
8.1.1.Segment Share Analysis, By Application, 2023 & 2030 (%)
8.1.2.Tire
8.1.3.Non- tire Rubber
8.1.4.Plastics
8.1.5.Inks & Coatings
8.1.6.Others
9.Carbon Black Market - By Grade
9.1.Overview
9.1.1.Segment Share Analysis, By Grade, 2023 & 2030 (%)
9.1.2.Standard Grade
9.1.3.Specialty Grade
10.Carbon Black Market- By Geography
10.1.Introduction
10.1.1.Segment Share Analysis, By Geography, 2023 & 2030 (%)
10.2.North America
10.2.1.Overview
10.2.2.Carbon Black Key Manufacturers in North America
10.2.3.North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4.North America Market Size and Forecast, By Type, 2018 - 2030 (US$ Million)
10.2.5.North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)
10.2.6.North America Market Size and Forecast, By Grade, 2018 - 2030 (US$ Million)