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Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Carbon Black Market is segmented by Process Type (Furnace Black, Gas Black, Lamp Black, and Thermal Black), Application (Tires and Industrial Rubber Products, Plastics, Toners and Printing Inks, Paints and Coatings, Textile Fibers, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Carbon Black market - market summary
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

North America

Largest Market:

Asia Pacific

CAGR:

5.15 %

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Market Overview

The carbon black market was valued at USD 15,495.32 million in 2020, and the market is projected to register a CAGR of around 5.15% during the forecast period (2021-2026). The tires and industrial rubber products application segment dominated the market, and it is expected to grow during the forecast period. Carbon black is one of the reinforces that is frequently used in the tire industry, owing to its effect on the mechanical and dynamic properties of tires.

With the COVID-19 outbreak in the first half of 2020, the tire and rubber industry has been significantly affected. Various tire and rubber manufacturers have shut down manufacturing plants to cope with the losses that occurred. For instance, Bridgestone announced in April 2020 to suspend 11 of its Japanese plants due to the dwindling demand during the coronavirus pandemic.

  • In the short term, the major factors driving the market studied are growing applications in the fiber and textile industries.
  • Growth in the adoption of electric cars and self-driving cars is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, with the largest consumption from the countries, such as China and India.

Scope of the Report

Carbon black is produced by incomplete combustion of heavy petroleum products such as coal tar, FCC tar, or ethylene cracking tar. 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, paints and 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. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton) and value (USD million).

Process Type
Furnace Black
Gas Black
Lamp Black
Thermal Black
Application
Tires and Industrial Rubber Products
Plastics
Films and Sheets
Pressure Pipes
Molded Parts
Toners and Printing Inks
Paints and Coatings
Textile Fibers
Nylon
Polyester
Acrylic
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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Key Market Trends

Increasing Application of Tires and Industrial Rubber Products

  • The tires and industrial rubber products application is the largest application segment of the carbon black market, with around 75% of the market share.
  • Carbon black is used in the tires of automotive vehicles. It is used as a filler as well as a strengthening reinforcing agent.
  • Carbon black is one of the reinforces that is frequently used in the tire industry, owing to its effect on the mechanical and dynamic properties of tires. It is used in various formulations with different rubber types to customize the performance properties of tires.
  • According to IRSG (International Rubber Study Group), the global tire production volume reached 16.8 million metric ton in 2019. Moreover, the total global tire industry volume is expected to reach 2.75 billion units by 2024 from 2.36 billion units in 2019.
  • Considering the impact of COVID-19, the global tires industry is expected to witness little recovery in 2021, with significant recovery starting in 2022.
  • Other than tires, it is also required for various molded and extruded industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hoses. It provides flex strength in such products.
  • Owing to all the above-mentioned factors, the market for carbon black is projected to grow post-2020 during the forecast period.
Carbon Black Market Segmentation Trends

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China to Dominate the Market in the Asia-Pacific Region

  • China contributes more than 40% of the global carbon black production. China is also the global largest exporter of carbon black. The primary carbon black feedstock is coal tar, and other carbon black feedstocks include slurry oil and ethylene tar.
  • Carbon black prices in China have surged in the recent past due to a supply shortage amid massive plant shutdowns caused by the Chinese government’s intensifying environmental protection campaign.
  • The top local manufacturers of carbon black include Jiangxi Black Cat, Longxing Chemicals, Shanxi Yongdong Chemicals, Shanxi Anlun Chemicals, Liaobin Carbon Black, Shanxi Sanqiang New Energy Technology Co. Ltd, Suzhou Baohua Carbon Black, Shandong Jinneng Technology, Shandong NST Carbon Black, Yunan Yunwei Feihu Chemicals, Qujin Zongyi Chemicals, and Shandong Best Chemicals.
  • Tire production in the country has a deep impact on the carbon black market, as it is the largest demand puller.
  • The country is projected to produce 704 million tires per year by 2025, including 527 million passenger radial tires, 148 million truck/bus radial tires, 29 million bias truck tires, 20,000 extra-large industrial tires, 12 million agricultural tires, and 54,000 aircraft tires. In addition, China will produce 120.7 million motorcycle tires and 420 million bicycle tires annually by 2025.
  • Apart from the drop in domestic consumption, the US and EU anti-dumping tariffs also are casting heavy shadows, as more than 40% of China's tires are exported to the two markets.
  • The plastics industry in China is the world’s largest, accounting for nearly 30% of global production.
  • The COVID-19 has presented a problematic situation for carbon black in the country. However, the condition is better now, which concreted the probability of market recovery over the forecast period.
Carbon Black Market Regional Trends

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Competitive Landscape

The carbon black market is a consolidated market, where the top seven players contribute to about 57% of the market share. The major companies for the carbon black market include Cabot Corporation, Birla Carbon, Orion Engineered Carbons SA, Jiangxi Black Cat Carbon Black Co. Ltd, Tokai Carbon Co. Ltd, and China Synthetic Rubber Corporation.

Recent Developments

  • In April 2020, Cabot Corporation completed the acquisition of Shenzhen Sanshun Nano New Materials Co. Ltd (SUSN).
  • In March 2020, Epsilon Carbon announced that it would set up an integrated carbon black facility at Bellary, Karnataka, and the plant is expected to be operational by Q3 FY2021 at 115 kilo metric ton per annum.
  • In November 2019, Cabot started the first phase of USD 100 million expansion in Cilegon, Indonesia. The first phase of the project added 80 kiloton per annum of capacity at the site, which produces rubber black grades primarily used for tire applications.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Application in the Fiber and Textile Industries

      2. 4.1.2 Increasing Market Penetration of Specialty Black

    2. 4.2 Restraints

      1. 4.2.1 Declining Automotive Industry

      2. 4.2.2 Availability of Substitutes

      3. 4.2.3 Impact of the COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

    6. 4.6 Technology Landscape

  5. 5. MARKET SEGMENTATION

    1. 5.1 Process Type

      1. 5.1.1 Furnace Black

      2. 5.1.2 Gas Black

      3. 5.1.3 Lamp Black

      4. 5.1.4 Thermal Black

    2. 5.2 Application

      1. 5.2.1 Tires and Industrial Rubber Products

      2. 5.2.2 Plastics

        1. 5.2.2.1 Films and Sheets

        2. 5.2.2.2 Pressure Pipes

        3. 5.2.2.3 Molded Parts

      3. 5.2.3 Toners and Printing Inks

      4. 5.2.4 Paints and Coatings

      5. 5.2.5 Textile Fibers

        1. 5.2.5.1 Nylon

        2. 5.2.5.2 Polyester

        3. 5.2.5.3 Acrylic

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 United Arab Emirates

        4. 5.3.5.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asahi Carbon Co. Ltd

      2. 6.4.2 Birla Carbon (Aditya Birla Group)

      3. 6.4.3 Cabot Corporation

      4. 6.4.4 Tokai Carbon Co. Ltd

      5. 6.4.5 International CSRC Investment Holdings Co. Ltd

      6. 6.4.6 Abu Dhabi National Oil Company

      7. 6.4.7 Himadri Speciality Chemical Ltd

      8. 6.4.8 Imerys Graphite & Carbon

      9. 6.4.9 Jiangxi Black Cat Carbon Black Co. Ltd

      10. 6.4.10 Kemipex

      11. 6.4.11 Longxing Chemical Stock Co. Ltd

      12. 6.4.12 Mitsubishi Chemical Corporation

      13. 6.4.13 NNPC

      14. 6.4.14 OCI Company Ltd

      15. 6.4.15 Omsk Carbon Group

      16. 6.4.16 Orion Engineered Carbons GmbH

      17. 6.4.17 Phillips Carbon Black Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growth in the Adoption of Electric Cars and Self-driving Cars

**Subject to Availability

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Frequently Asked Questions

The Carbon Black Market market is studied from 2016 - 2026.

The Carbon Black Market is growing at a CAGR of 5.15% over the next 5 years.

The Carbon Black Market is valued at 15495 Million USD in 2016.

North America is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

  • Birla Carbon
  • Orion Engineered Carbon
  • Cabot Corporation
  • Jiangxi Black Cat Carbon Black Co. Ltd

Are the major companies operating in Carbon Black Market.

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