Carbon Black Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Carbon Black Market Production by Country and the 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, Coatings, Textile Fibers, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). for Each Segment, the Market Sizing and Forecasts Have Been Done Based On Volume (kiloton) and Revenue (USD Million).

Carbon Black Market Size

Carbon Black Market Summary
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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

Major Players

Carbon Black Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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 Market Trends

Increasing Application of Tires and Industrial Rubber Products

  • Carbon black is one of the reinforcements 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.
  • Carbon black is mainly required in the inner liners, sidewalls, and carcasses. It has heat-dissipation capabilities when added to rubber compounds. It also improves handling, tread wear, and fuel mileage. It also provides abrasion resistance.
  • Carbon black is used in vehicle tires and other rubber products as a filler, strengthening, and reinforcing agent. Owing to its vital applications in tires and rubber products, the trends in these industries are expected to favor the growth of the market studied.
  • According to the WBCSD, the tire industry consumes approximately 70% of the world's natural rubber, and the demand for natural rubber is increasing, diversifying the social, economic, and environmental opportunities associated with the production of this important raw material.
  • The demand for tires in the newly produced segments of passenger cars and light trucks has been witnessing stable growth worldwide. This is depicted through the monthly statistics provided by the Michelin Group, which state that the worldwide original equipment tire market has seen a 10% growth in the first five months of 2023 when compared with 2022.
  • According to the Modern Tire Dealer, in 2022, overall shipments of tires in the United States amounted to around 335 million units. The majority of tire units shipped in 2022 were replacement passenger tires, with some 222 million units.
  • The growth in the automotive industry, including both conventional and electric vehicles, is a significant factor driving the growth of tire and tire component manufacturing.
  • According to the OICA, the global sales and registration of automobiles in 2022 observed a decline of around 0.8% as compared to 2021. It stood at 68,995,575 over 69,560,173 in 2021.
  • According to the International Rubber Study Group, global rubber production saw a minimal increase in the production in 2022, when compared with the prior year. This was majorly due to the increased production in the second half of the year. The global production of rubber reached 29.6 million metric tons in 2022 as compared to 29.4 million metric tons in 2021. The synthetic rubber produced during 2022 amounted to approximately 14.9 million metric tons, just 0.3 million metric tons higher than the natural rubber produced during the year.
  • Hence, all the above factors are expected to increase the demand for carbon black in the tires and industrial rubber products.
Carbon Black Market: Production and consumption of rubber, in million meteric tons, Global, 2018-2022

China to Dominate the Market in the Asia-Pacific Region

  • China accounts for a higher share of the world's carbon black capacity in terms of both production and consumption. Any demand-supply imbalance in China can affect the market share and performance of domestic players.
  • Owing to the application of carbon black in tires and other rubber-based products and the positive development of China's rubber and automobile industries in recent years, the carbon black industry's rapid development has taken the country's limelight, and the overall industry production is on the rise.
  • As per the data released by the National Bureau of Statistics, the Chinese tire industry is experiencing substantial growth, reflecting the increasing demand for tires in the domestic and international markets.
  • In March 2023, China's output of tires increased by 11.3% to 90.87 million compared to the same period last year, indicating a trend in the growing demand in the domestic market. China produced 219.98 million rubber tires from January to March 2023, a Y-o-Y increase of 6.4%.
  • The growing rubber tire production can be validated by the fact that the country has been the most significant vehicle producer in the world for the past many years. According to the China Association of Automobile Manufacturers, China has already manufactured more than 13.25 million vehicles in the first half of 2023, witnessing a significant 9.3% growth Y-o-Y.
  • Along with applications in tires and rubber products, the application of carbon black as a pigment in paints and coatings and as a toner in the textile industry also accounts to significant demand in the country. Hence growth trends in paints and coatings and textile industries in the country is further expected to drive the market demand.
  • China is known for its industrialization and its manufacturing sector, where paints and coatings are widely required. China accounts for more than one-fourth of the global coatings market. According to the China National Coatings Industry Association, the industry has been registering a growth of 7% in recent years.
  • According to the World Paint & Coatings Industry Association, China presently dominates the region market, which is growing at a CAGR of 5.8%. The Chinese paints and coatings market was expected to increase by 5.7 % in 2022. China's total paints and coatings sales exceeded USD 45 billion in 2022, thereby depicting the country's dominance in having the largest market share (78%) in East Asia.
  • In 2022, China experienced a 2.53% increase in its exports of textiles and apparel, reaching a total value of USD 323 billion. Over the year, China's exports in textiles, apparel, and clothing accessories amounted to USD 323.344 billion, showing a modest growth of 2.53% when compared to the previous year.
  • It is projected by the China National Textile and Apparel Council (CNTAC), the regulatory authority overseeing China's textile and apparel sector, that, by 2025, the annual retail sales of clothing in China could surpass USD 415 billion.
  • Thus, all the abovementioned factors are expected to provide a huge impetus for the growth of the carbon black market over the forecast period.
Carbon Black Market - Growth Rate by Region, 2023-2028

Carbon Black Industry Overview

The global carbon black market is a consolidated market, where the top ten players contribute to a significant share of the overall market. Some of the major players in the market include Cabot Corporation, Birla Carbon (Aditya Birla Group), Orion Engineered Carbons SA, Jiangxi HEIMAO Carbon black Co. Ltd, and International CSRC Investment Holdings Co. Ltd, among others.

Carbon Black Market Leaders

  1. Cabot Corporation

  2. Birla Carbon (Aditya Birla Group)

  3. Orion Engineered Carbons SA

  4. Jiangxi HEIMAO Carbon black Co. Ltd

  5. International CSRC Investment Holdings Co., Ltd.

*Disclaimer: Major Players sorted in no particular order

Carbon Black Market Concentration
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Carbon Black Market News

  • June 2023: PCBL Limited initiated two growth projects which incorporate the new plant expansion in Chennai, Tamil Nadu, and an existing plant project at Mundra, Gujarat. This expansion is divided into two stages, and the first stage of the specialty chemical line is expected to be put into operation by the first quarter of the fiscal year 2023-24. As a result, the overall manufacturing capacity of the company is estimated to reach 790,000 MTPA and 122 MW of renewable energy.
  • February 2023: Balkrishna Industries Ltd (BKT) intensified its carbon black production activities and plans to increase capacity by almost 20% this year. The company will expand its Bhuj plant in the eastern Indian state of Gujarat to produce 198 kilotons per year. The Bhuj plant started operations in 2017 and has the capacity to produce 65 ktpa of carbon black grades for tire tread applications.
  • In June 2022, ADNOC Distribution entered a new carbon black supply agreement with ADNOC, which will enable ADNOC Distribution to test the market for carbon black.

Carbon Black Market Report - 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 Increasing Market Penetration of Specialty Black

      2. 4.1.2 Growing Applications in the Batteries Segment

    2. 4.2 Restraints

      1. 4.2.1 Increasing Investments for Recovered Carbon Black

      2. 4.2.2 Volatility in Prices of Raw Materials

    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 Buyers

      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 - Quick Snapshot

    7. 4.7 Production Analysis

    8. 4.8 Price Trend Analysis

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

    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 Plastic

      3. 5.2.3 Toners and Printing Inks

      4. 5.2.4 Coatings

      5. 5.2.5 Textile Fiber

      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, 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 ADNOC Group

      2. 6.4.2 Asahi Carbon Co. Ltd

      3. 6.4.3 Birla Carbon (Aditya Birla Group)

      4. 6.4.4 BKT Carbon

      5. 6.4.5 Cabot Corporation

      6. 6.4.6 Epsilon Carbon Private Limited

      7. 6.4.7 Himadri Speciality Chemical Ltd

      8. 6.4.8 Imerys SA

      9. 6.4.9 International CSRC Investment Holdings Co. Ltd

      10. 6.4.10 Jiangxi Heimao Carbon Black Co. Ltd

      11. 6.4.11 Longxing Chemical Stock Co. Ltd

      12. 6.4.12 Mitsubishi Chemical Corporation

      13. 6.4.13 NNPC Limited

      14. 6.4.14 OCI Company Ltd

      15. 6.4.15 Omsk Carbon Group

      16. 6.4.16 Orion Engineered Carbons SA

      17. 6.4.17 PCBL Limited

      18. 6.4.18 Tokai Carbon Co. Ltd

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

    1. 7.1 Growth in the Adoption of Electric Cars

**Subject to Availability
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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 Research 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.

Cabot Corporation, Birla Carbon (Aditya Birla Group), Orion Engineered Carbons SA, Jiangxi HEIMAO Carbon black Co. Ltd and International CSRC Investment Holdings Co., Ltd. are the major companies operating in the Carbon Black Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Carbon Black Market.

In 2023, the Carbon Black Market size was estimated at USD 21.48 billion. The report covers the Carbon Black Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carbon Black Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Emerging Trends in the Carbon Black Market are a) Growing demand for sustainable and eco-friendly carbon black b) Implementation of AI and ML for improved production efficiency, quality control, and predictive maintenance

Carbon Black Industry Report

The global carbon black market is on a trajectory of significant growth, fueled by its widespread applications across diverse sectors such as tire manufacturing, plastics, inks, coatings, and more. This growth is underpinned by the material's essential role in enhancing the durability and performance of tires through improved abrasion resistance and tensile strength, alongside its increasing use in the production of plastics for electrical and electronic components. The market's segmentation reveals substantial growth in the tire and non-tire rubber segments, driven by carbon black's reinforcing properties, with the Asia Pacific region, particularly China and India, leading due to rapid industrialization and urbanization. This demand is further supported by rising foreign investments and favorable regulatory policies. Despite the market's fragmented nature and the challenges posed by raw material price volatility and stringent environmental regulations, the development of the automotive industry and the rising adoption of electric vehicles present new opportunities. The carbon black market is set for considerable growth, driven by its pivotal role in various end-use applications and the pursuit of sustainable industry solutions, as detailed in industry reports by Mordor Intelligence™, which offer a comprehensive market forecast outlook and a historical overview available as a free report PDF download.

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Carbon Black Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)