Market Size of Carbon Black Industry
| 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
*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.
