Carbon Black Market Research Report and Outlook by 2028

The carbon black market is projected to expand from US$ 13,620.57 million in 2022 to US$ 18,514.57 million by 2028, reflecting an anticipated compound annual growth rate (CAGR) of 5.2% throughout the forecast period.

Carbon black is generated through methods such as thermal decomposition or partial combustion, utilizing hydrocarbons like oil or natural gas as the primary raw materials. It is available in both powder and bead forms. The characteristics of carbon black can vary significantly based on the manufacturing technique employed. Common production methods include the furnace black process, channel process, acetylene black process, and lampblack process, with the furnace black process being the most prevalent. Carbon black plays a crucial role in enhancing the physical and mechanical properties of rubber compounds, affecting their heat resistance, oil resistance, and corrosion resistance. It serves as a reinforcing agent in the creation of various non-tire rubber products, improving mechanical strength, anti-vibration properties, and conductivity in items such as tubes, hoses, conveyor belts, molded products, seals, gaskets, engine mounts, wiper blades, rubber flooring, sheets, rollers, and footwear.

The global carbon black market is categorized by grade into standard and specialty grades. In 2022, the standard grade segment dominated the market share, while the specialty grade segment is anticipated to experience a higher CAGR during the forecast period. Specialty grade carbon black is utilized in automotive and industrial coatings and is a pure form of carbon black with extensive applications in plastic masterbatches, pipes, inks, and molded plastics. The rising demand for non-tire applications is expected to drive growth in the specialty grade segment of the carbon black market.

In terms of application, the carbon black market is segmented into tires, non-tire rubber, plastics, inks and coatings, and other categories. The tire segment accounted for the largest market share in 2022 and is projected to achieve the highest CAGR from 2022 to 2028. Carbon black is integral to various industries, including automotive, inks and coatings, and plastics, with a significant volume being utilized in tire manufacturing. Key factors propelling the carbon black market include the increasing production of automotive tires in developing regions and the rising demand for specialty carbon black.

Geographically, the carbon black market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, the Asia Pacific region held the largest market share and is expected to register the highest CAGR from 2022 to 2028. The rising disposable income in this region is driving demand for both commercial and passenger vehicles, which in turn increases the need for automotive tires. Furthermore, significant investments by leading automotive original equipment manufacturers (OEMs) and the growth of electric vehicle (EV) production capabilities in Asia Pacific are further stimulating the demand for both conventional and electric vehicles. The expansion of the tire industry in this region is closely linked to the overall growth of the automotive sector, leading to a corresponding increase in the demand for carbon black.

Key players in the global carbon black market include HiiROC Ltd, Black Bear Carbon BV, Klean Industries Inc., Delta Energy LLC, OMSK Carbon Group Ltd, Imerys SA, Cabot Corp, Tokai Carbon Co Ltd, Orion Engineered Carbons SA, and China Synthetic Rubber Corp. These companies are focused on developing cost-effective and innovative products to meet the growing demands of customers and to enhance their market presence.

The overall size of the carbon black market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the information and gain deeper analytical insights. Participants in these interviews included vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the carbon black sector.