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Carbon Black Market Size (2024 - 2029)

The carbon black market is projected to experience growth over the forecast period, driven by factors such as the increasing penetration of specialty black and expanding applications in the battery sector. Despite challenges posed by investments in recovered carbon black and raw material price volatility, the market is expected to benefit from opportunities arising from the adoption of electric vehicles. The Asia-Pacific region, particularly China and India, leads in market consumption, reflecting its significant market size.

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Market Size of Carbon Black Industry

Carbon Black Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 22.79 Billion
Market Size (2029) USD 30.15 Billion
CAGR (2024 - 2029) 5.75 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Carbon Black Market Major Players

*Disclaimer: Major Players sorted in no particular order

Carbon Black Market Analysis

The Carbon Black Market size is estimated at USD 22.79 billion in 2024, and is expected to reach USD 30.15 billion by 2029, growing at a CAGR of 5.75% during the forecast period (2024-2029).

The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the tire and rubber industry was significantly affected. This, in turn, had an unfavorable impact on the consumption of carbon black. The market was projected to grow steadily as automotive production recovered from the impact of the pandemic in 2021. The market witnessed a significant growth in 2022.

  • In the short term, the major factors driving the market are the increasing market penetration of specialty black and growing applications in the batteries segment.
  • On the flip side, the increasing investments in recovered carbon black and volatility in the prices of raw materials are hindering the growth of the market studied.
  • The growth in the adoption of electric cars is expectde to act as an opportunity in the future.
  • Asia-Pacific dominated the market worldwide, with the largest consumption from China and India.

Carbon Black Industry Segmentation

Carbon black is a fine carbon powder made by incomplete combustion or thermal decomposition of gaseous or liquid hydrocarbons under controlled conditions. The carbon black market is segmented by process type, application, and geography. By process type, the market is segmented into furnace black, gas black, lamp black, and thermal black. By application, the market is segmented into tires and industrial rubber products, plastics, toners and printing inks, coatings, textile fibers, and other applications. The report also covers the market size and forecasts for the carbon black market in 16 countries across major regions. The report offers the volume in kiloton and market size in value terms in USD for all the abovementioned segments.

Process Type
Furnace Black
Gas Black
Lamp Black
Thermal Black
Application
Tires and Industrial Rubber Products
Plastic
Toners and Printing Inks
Coatings
Textile Fiber
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle East and Africa
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Carbon Black Market Size Summary

The carbon black market is poised for significant growth over the forecast period, driven by its essential role in the tire and rubber industries. Carbon black is a crucial reinforcement agent that enhances the mechanical and dynamic properties of tires, improving aspects such as handling, tread wear, and fuel efficiency. The market's recovery from the COVID-19 pandemic has been bolstered by the resurgence in automotive production, with increasing demand for both conventional and electric vehicles. The growing penetration of specialty black and its expanding applications in the battery segment are key factors propelling market growth. However, challenges such as volatility in raw material prices and the need for investments in recovered carbon black present hurdles to market expansion. The Asia-Pacific region, particularly China and India, dominates the global market, with China accounting for a significant share of production and consumption.

The carbon black market's growth is further supported by the rising demand for tires and rubber products, which are integral to the automotive industry. China's robust tire production and its position as a leading vehicle manufacturer contribute to the market's expansion. Additionally, the application of carbon black in paints, coatings, and textiles adds to its demand, particularly in China, which holds a substantial share of the global coatings market. The market is characterized by consolidation, with major players like Cabot Corporation and Birla Carbon holding significant market shares. Recent expansions and capacity increases by key industry players indicate a positive outlook for the market, with anticipated growth driven by both industrial and consumer demand across various sectors.

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Carbon Black Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Market Penetration of Specialty Black

      2. 1.1.2 Growing Applications in the Batteries Segment

    2. 1.2 Restraints

      1. 1.2.1 Increasing Investments for Recovered Carbon Black

      2. 1.2.2 Volatility in Prices of Raw Materials

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Trade Analysis

    6. 1.6 Technology Landscape - Quick Snapshot

    7. 1.7 Production Analysis

    8. 1.8 Price Trend Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume and Value)

    1. 2.1 Process Type

      1. 2.1.1 Furnace Black

      2. 2.1.2 Gas Black

      3. 2.1.3 Lamp Black

      4. 2.1.4 Thermal Black

    2. 2.2 Application

      1. 2.2.1 Tires and Industrial Rubber Products

      2. 2.2.2 Plastic

      3. 2.2.3 Toners and Printing Inks

      4. 2.2.4 Coatings

      5. 2.2.5 Textile Fiber

      6. 2.2.6 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 United Arab Emirates

        4. 2.3.5.4 Rest of Middle East and Africa

Carbon Black Market Size FAQs

The Carbon Black Market size is expected to reach USD 22.79 billion in 2024 and grow at a CAGR of 5.75% to reach USD 30.15 billion by 2029.

In 2024, the Carbon Black Market size is expected to reach USD 22.79 billion.

Carbon Black Market Report Snapshots

Carbon Black Market Report - Industry Growth, Size & Forecast Analysis (2024 - 2029)