The carbon black market was valued at $21.4 billion in 2023, and is projected to reach $32.6 billion by 2031, growing at a CAGR of 5.4% from 2024 to 2031.
Carbon black is a fine black powder composed primarily of elemental carbon. It is produced through the incomplete combustion or thermal decomposition of hydrocarbons, such as oil or natural gas. Carbon black is widely used as a reinforcing agent in rubber products, especially tires, and as a pigment in inks, coatings, and plastics. Its unique physical and chemical properties, including high surface-area-to-volume ratio and conductivity, make it a versatile material in various industrial applications.
The global carbon black market is witnessing robust growth due to factors such as rise in global vehicle production and surge in adoption of electric vehicles. This is attributed to the fact that the automotive industry is a major consumer of carbon black, primarily for high-performance and durable tires. As per a recent study published by Contec S.A. - provider of circular rubber and plastic solutions that deliver low carbon footprint by recovering carbon black from waste tires - 73% of global carbon black production is consumed in the tire manufacturing sector. In addition, carbon black is widely used in manufacturing industrial rubber products such as conveyor belts, hoses, and seals.
The expansion of industries such as construction, mining, and agriculture is fueling the demand for these products, subsequently boosting the market for carbon black. Furthermore, rapid urbanization and infrastructure projects across emerging economies are augmenting the demand for construction materials, where carbon black is used in coatings, asphalt, and other materials to improve durability and longevity. The trend towards lightweight and high-strength materials in automotive and aerospace industries has increased the use of carbon black in composite materials, further expanding its market potential.
Moreover, as industries strive to reduce their carbon footprint, sustainable production methods for carbon black, such as recovered carbon black from recycled tires, are gaining popularity. This trend aligns with global efforts to promote circular economy practices. However, prolonged exposure to carbon black dust is associated with respiratory issues and other health hazards for workers in production facilities. These concerns are driving stricter workplace safety standards, leading to increased compliance expenses. In addition, economic uncertainties, particularly in emerging markets like India and Brazil, can impact construction and automotive industries, thereby affecting the demand for carbon black.
On the contrary, with the growing focus on renewable energy and electric mobility, carbon black is finding applications in energy storage systems such as batteries and supercapacitors. Its excellent conductivity and chemical stability make it suitable for enhancing the performance of energy storage devices. The booming e-commerce and packaging industries are propelling the demand for high-quality printing inks, indirectly boosting the carbon black market. Thus, these factors collectively are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global carbon black market is segmented on the basis of grade, manufacturing process, application, and region. By grade, the market is bifurcated into standard carbon black and specialty carbon black. On the basis of manufacturing process, it is categorized into furnace black, thermal black, and others. Depending on application, it is classified into rubber, plastic, inks and coatings, battery electrodes, and others. Region wise the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.
On the basis of manufacturing process, the thermal black segment is anticipated to exhibit the highest growth during the forecast period.
Depending on application, the rubber segment is projected to grow at the highest pace during the forecast period.
Region wise, Asia-Pacific is likely to emerge as the most lucrative market for carbon black by 2033.
Carbon black is a fine black powder composed primarily of elemental carbon. It is produced through the incomplete combustion or thermal decomposition of hydrocarbons, such as oil or natural gas. Carbon black is widely used as a reinforcing agent in rubber products, especially tires, and as a pigment in inks, coatings, and plastics. Its unique physical and chemical properties, including high surface-area-to-volume ratio and conductivity, make it a versatile material in various industrial applications.
The global carbon black market is witnessing robust growth due to factors such as rise in global vehicle production and surge in adoption of electric vehicles. This is attributed to the fact that the automotive industry is a major consumer of carbon black, primarily for high-performance and durable tires. As per a recent study published by Contec S.A. - provider of circular rubber and plastic solutions that deliver low carbon footprint by recovering carbon black from waste tires - 73% of global carbon black production is consumed in the tire manufacturing sector. In addition, carbon black is widely used in manufacturing industrial rubber products such as conveyor belts, hoses, and seals.
The expansion of industries such as construction, mining, and agriculture is fueling the demand for these products, subsequently boosting the market for carbon black. Furthermore, rapid urbanization and infrastructure projects across emerging economies are augmenting the demand for construction materials, where carbon black is used in coatings, asphalt, and other materials to improve durability and longevity. The trend towards lightweight and high-strength materials in automotive and aerospace industries has increased the use of carbon black in composite materials, further expanding its market potential.
Moreover, as industries strive to reduce their carbon footprint, sustainable production methods for carbon black, such as recovered carbon black from recycled tires, are gaining popularity. This trend aligns with global efforts to promote circular economy practices. However, prolonged exposure to carbon black dust is associated with respiratory issues and other health hazards for workers in production facilities. These concerns are driving stricter workplace safety standards, leading to increased compliance expenses. In addition, economic uncertainties, particularly in emerging markets like India and Brazil, can impact construction and automotive industries, thereby affecting the demand for carbon black.
On the contrary, with the growing focus on renewable energy and electric mobility, carbon black is finding applications in energy storage systems such as batteries and supercapacitors. Its excellent conductivity and chemical stability make it suitable for enhancing the performance of energy storage devices. The booming e-commerce and packaging industries are propelling the demand for high-quality printing inks, indirectly boosting the carbon black market. Thus, these factors collectively are expected to offer remunerative opportunities for the expansion of the global market during the forecast period.
The global carbon black market is segmented on the basis of grade, manufacturing process, application, and region. By grade, the market is bifurcated into standard carbon black and specialty carbon black. On the basis of manufacturing process, it is categorized into furnace black, thermal black, and others. Depending on application, it is classified into rubber, plastic, inks and coatings, battery electrodes, and others. Region wise the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By grade, the standard carbon black segment is expected to maintain its lead position from 2024 to 2031.On the basis of manufacturing process, the thermal black segment is anticipated to exhibit the highest growth during the forecast period.
Depending on application, the rubber segment is projected to grow at the highest pace during the forecast period.
Region wise, Asia-Pacific is likely to emerge as the most lucrative market for carbon black by 2033.
Competition Analysis
The major players operating in the global carbon black market include Cabot Corporation, Aditya Birla Group, PCBL, Vizag Chemical, Kizashi Carbon, Vinayak Industries, Contec, Contec, Astrra Chemicals, and Epsilon Carbon Private Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Grade
- Standard Carbon Black
- Specialty Carbon Black
By Manufacturing Process
- Furnace Black
- Thermal Black
- Others
By Application
- Rubber
- Plastic
- Inks and Coatings
- Battery Electrodes
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Cabot Corporation
- Aditya Birla Group
- PCBL
- Vizag Chemical
- Kizashi Carbon
- Vinayak Industries
- Contec
- Contec
- Astrra Chemicals
- Epsilon Carbon Private Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: CARBON BLACK MARKET, BY GRADE
CHAPTER 5: CARBON BLACK MARKET, BY MANUFACTURING PROCESS
CHAPTER 6: CARBON BLACK MARKET, BY APPLICATION
CHAPTER 7: CARBON BLACK MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Cabot Corporation
- Aditya Birla Group
- PCBL
- Vizag Chemical
- Kizashi Carbon
- Vinayak Industries
- Contec
- Contec
- Astrra Chemicals
- Epsilon Carbon Private Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | October 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 21.4 billion |
| Forecasted Market Value ( USD | $ 32.6 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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