Carbon Black Market Trends 2021 | Segmentation, Demand Outlook, Industry Report to 2030

Global Carbon Black Market size was valued at USD 15.24 billion in 2020 and is predicted to reach USD 22.13 billion by 2030 with a CAGR of 3.8% from 2021-2030.

Carbon black is a type of para crystalline carbon, which contains 95% pure carbon along with small amounts of hydrogen, oxygen, sulfur, and nitrogen. It is obtained through incomplete combustion of heavy petroleum products and helps improve the physical and mechanical properties of the final product. Carbon black is widely used in the production of tires, plastics, mechanical rubber products, printing inks and toners. It acts as a reinforcing agent and reduces thermal damage to the tires by conducting heat away from the tread and belt area and thereby extends the life of the tire.

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Top Companies: BASF SE, Dow Inc., Mitsubishi Chemical Holdings, Orion Engineered Carbons S.A., Nouryon, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, Cabot Corporation, and SABIC.

Market Dynamics and Trends:

Carbon black market is primarily driven by the increasing demand from automotive industry. It is also used in the construction industry, as the mixture of carbon black with cement enhances uniformity, surface hardness, tensile strength and compressive strength. Additionally, it has considerable demand for strengthening various industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hose. In paint industry, it is used for its physical properties such as colour stability, solvent resistance and thermal stability that help produce high-performance coatings suitable for marine and aerospace industries. As a filler, the product is used in the manufacturing of a variety of plastic products such as pipes, films, stretch wrap, photographic containers, and industrial bags. Due to such wide range of applications across industries, the carbon black market is expected to grow in the coming years.

However, increasing use of silica as a substitute, fluctuations in the raw material prices and environmental concerns are expected to restrain the growth of the market to some extent. On the other hand, increased usage of carbon black in plastic manufacturing and the growing adoption of plastics in electrical component manufacturing are expected to provide lucrative opportunities to the manufactures in the near future.
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Market Segmentations and Scope of the Study:

The global carbon black market is segmented on basis of process, grade, application, and region. On the basis of process, the market is classified as furnace black, channel, acetylene black, and lampblack. Based on grade, the market is divided into specialty and conductive. On the basis of application, the market is categorized into tires, coatings, plastics, printing inks, and toners. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

Asia Pacific dominates the carbon black market and is anticipated to maintain this trend throughout the forecast period. This is primarily due to the growth of automotive industry in countries such India, Indonesia, South Korea and China, which has increased the demand for rubber and tires. Major manufacturers are shifting their manufacturing facilities to this region owing to low-cost labour and support from respective governments. Also, China contributes more than 40% of the global carbon black production apart from housing world’s largest automotive industry.

However, North America is expected to show a steady rise in carbon black market due to the increasing use of specialty grades in ink and coating applications. In addition, the increasing use of furnace black in hoses, air springs, vibration isolation devices and belts is expected to drive the market growth in this region. North America carbon black market is dominated by the U.S., both in terms of product consumption as well as production.

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