US Carbon Black Industry Outlook to 2028

Market Overview:

The United States Carbon Black market is concerned with Carbon Black and its applications. Carbon Black can be best described as fine particles of pure carbon which is formed as a result of incomplete combustion of various biofuels and fossil fuels. This compound is widely used in rubber products and tire industry.

According to the report, the US Carbon Black market is anticipated to grow at a CAGR of 2.5% in between 2022-2028 owing to rising automotive vehicles growth, industrial growth, rise in the demand of rubber goods and rise in the prevalence of urbanization.

Carbon Black is primarily used in automotive vehicles, in industrial processes and rubber industry along with tire industry. The sales of automotive vehicles has been rising significantly in the US. In the US, at least 92% of the homes have at least 1 automotive vehicles. When there is a high prevalence of automotive vehicles in the country, the demand for Carbon Black rises as it is to be used in the tires of vehicles.

Furthermore, currently 82% of the people in the US live in urban areas. Urban areas have more vehicles, and industrial processes going on which again make use of Carbon Black greatly. US is also the second largest importer of rubber in the whole world importing almost ~USD 200 Bn. worth of rubber. Rubber goods are known for their Carbon Black use which again helps in the growth of US Carbon Black market. In 2022, US also witnessed an industrial growth of ~3.8% and many industrial processes also use Carbon Black which pose as another factor that is contributing to the growth of US Carbon Black market.

The United States Carbon Black market primarily consists of Carbon Black market players, financial institutional players, environment regulatory players, and technological support players. This market is primarily concerned with the manufacturing and distribution of Carbon Black and related products which are generally used in automotive vehicles, plastic industrial and rubber products.

Key players in the Carbon Black market primarily include Cabot Corporation, Continental Caron company, Birla Carbon, Tokai Carbon, Orion Engineered Carbons and Mitsubishi Chemical Corporation.

Key financial institutions include Bank of America, CitiGroup, Wells Fargo, JP Morgan Chase, and Goldman Sachs. Key Environment Regulatory Players include Earth Justice, Texas Commission on Environmental Quality, US Environment Protection Agency, Kentucky Energy and Environment Cabinet. Key companies that provide technical solutions include Helpware, Crewbloom, Unity Communications, Hyperlink Info. System, and IBM.

Key trends by Market Segment:

By Process: In 2022,the furnace black segment dominated the US Carbon Black market. This process is concerned with the development of Carbon Black by boiling the raw materials in the form of petroleum or coil oil at a very high temperature in order to do a partial combustion to form Carbon Black.

The primary reason behind this process’ dominance in the US Carbon Black market is that this process is considered to be very suitable for mass production of Carbon Black due to its high yield. Moreover, it also happens to provide great control on the properties of Carbon Black in terms of size and structure.

Moreover, this process is also considered more environment friendly than other process because it is less polluting. Since it enables mass production and allow controlling the properties, this process is also known to be quite economical and flexible.

By Application: In 2022, the Tire and Rubber products dominated the US Carbon Black market. Carbon Black is widely used in automotive vehicles in form of tires and various rubber products such as belts, hoses, gloves, etc.

The major reasons for dominance in the US Carbon Black market primary are that the automotive vehicles are widely used in the US and also there is a rising demand of rubber products in the US.

Last year, there were almost 15 million automotive vehicles sold in the US. All the vehicles require tires and tires require Carbon Black. Without the use of Carbon Black, a tire would hardly last 100 Km. Moreover, 92% of households in the US have an automotive.

Furthermore, there is also a high demand of rubber products in the US. The country is the second largest importer of rubber and imports around ~$200 Bn. worth of rubber. Most of the rubber products require the use of Carbon Black to strengthen the product. Thus, due to these reasons, the tires and rubber goods are the dominant segment in the US Carbon Black market.

By Geography: In 2022, the southern region of United States was the dominant region in the US Carbon Black market. The primary reasons behind this region’s dominance in the market are the presence of many Carbon Black companies, many tourist attractions and industrial rubber company.

The southern region of US has the presence of approximately 2100 organizations existing in the field of science and engineering. The presence of this much chemical companies accelerates the US Carbon Black market.

There are also many big Carbon Black companies situated in this region. Major companies like Birla Carbon, Continental Carbon, Orion Engineered Carbons, Mitsubishi Chemical Corporation are situated in the southern region of the US. The presence of this many major players in this region makes it as the dominant region in the US Carbon Black market.

The southern region of the US also have many tourists attractions such as the bible belt, New Orleans, Saint Simons Island, Hilton head island, Louisville, Miami, Birmingham, etc. Tourist attractions promote the use of automotive vehicles which ultimately accelerates the US Carbon Black market through the wide use of tires which have Carbon Black.

This region also witnesses many rubber companies such as Mountville Mills, The good Year Rubber and Tire company, American Synthetic Rubber Company, Lion Copolymer, and Kraton corporation.

Competitive Landscape:

There are many well-established players in the US Carbon Black market. Some of the major players of the US Carbon Black market primarily include Cabot Corporations, Birla Carbon, Continental Carbon Company, and Orion Engineered Carbons. Since these companies are well established, they enjoy dominance in the US Carbon Black market.

These companies vie for market share through innovation, product efficacy, and pricing strategies. The landscape is dynamic, with a focus on developing effective and efficient Carbon Black products with fewer polluting emissions. The ongoing pursuit of superior formulations, coupled with stringent regulatory oversight by the regulatory bodies, shapes a competitive environment centered on providing safe, efficient, and cost-effective Carbon Black products to rubber, plastic, and automotive companies.

Recent Developments:

During October 2021, a new product; VULCAN 3-LP carbon black was lanched by Cabot Corporation. This product is a polyacrylic aromatic hydrocarbon that is primarily used for rubber applications.

During December 2022, Continental Carbon Company had to close down one of its Carbon Black plant which was situated in Albama. The sole reason behind the closure of this plant was due to the company not getting any grace period or extension by the US department of justice and Environment Protection agency.

During January 2023, Orion Engineered Carbons made an investment worth ~USD 60 Mn. to work for reducing the carbon black emissions from its plant situated in Texas. With this initiative, they aim to reduce sulfur and nitrogen diaoxide by 90% .

Future Outlook:

The US Carbon Black Market is anticipated to grow at a CAGR of ~2.5% between the time period 2022-2028 owing to rise in automotive vehicles sales, industrial growth, rising demand for rubber products, and increasing urbanization.

There has been a significant rise in the sales of automotive sales in the United States. In 2022, almost 15 million automotive vehicles were sold. This number is only anticipated to grow further. The growing sales of automotive vehicles geneerate the demand for Carbon Black as it is mainly used in rubber tires. Thus, the growing sales of automotive vehicles will further increase the demand for Carbon Black.

Industrial growth also has been quite progressive in the US. Although, the industrial growth was slowed down in the covid-19 but in the past year it has progressed to 3.8%. It is anticipated that the industry growth will continue to progress in the upcoming years which will drive the US Carbon Black market.

In 2022, United States was the second largest importer of rubber. This reflects the high demand of rubber that exists in the country. This demand will continue to increase in the country which would accelerate the US Carbon Black market as this compound is primarily used in rubber products to provide strength.

Urbanization is on the rise in the United States since decades. Currently, 83% of people are living in urban areas in the unites states. This number is projected to reach 89% by 2050. With the rising rates of urbanization, the industrial processes and automotive vehicles also rise in the country which would pump the US Carbon Black market as it is widely used in industrial processes and automotive vehicles.

 

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