The ‘Global Carbon Black Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global carbon black market, assessing the market on the basis of its segments like product, grade, end-use, and major regions.
Carbon Black Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 15.04 billion
• Forecast CAGR (2023-2028): 5.7%
• Forecast Market Size (2027): USD 22.10 billion
With the rapid growth in the rubber industry, the carbon black market growth is likely to fuel over the coming years. Carbon black is primarily employed as a filler in rubber compounds to improve and strengthen their physical properties and further improve the vulcanisation as well as the volume of rubber.
Using carbon black disperses heat away from the tyre tread and the belt area which enhances the durability of rubber items. Accordingly, carbon black is added heavily to the sidewalls, carcasses, and inner liners of tyres, among other tyre components. Such aspects are likely to fuel the market growth for carbon black over the forecast period.
The surging demand from industries like construction, electronics, consumer goods, rubber, and automotive is one of the key aspects boosting the carbon black market. This is further expected to enhance the demand for carbon black across the globe over the upcoming years. However, production processes associated with harmful gas emissions is anticipated to obstruct the market growth of carbon black.
Carbon Black Industry Definition and Major Segments
Carbon black is comprised of fine particles containing primarily carbon. Several aspects of carbon black are monitored in fabrication by partly combusting gases or oils. It serves many uses, ranging from acting as an electric conductive agent of high-technology materials, to providing the black colouring pigmentation of newspaper inks.
By product, the market is segmented into:
• Acetylene Black
• Furnace Black
• Thermal Black
By grade, the market is divided into:
• Speciality Carbon Black
- Rubber Carbon Black
- N1XX – N3XX
- N4XX – N7XX
- N8XX – N9XX
By end-use, the market is classified into:
• Printing and Packaging
• Building and Construction
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Carbon Black Market Trends
The global carbon black market is expected to witness significant growth during the forecast period on account of the rising demand for carbon black in the automobile industry. This is owing to the surging usage of the product in vehicle tyres along with the application of carbon black in the topcoats.
The demand for carbon black from the electronic industry as a colouring agent is likely to increase the market growth. Gadgets produced across the globe are commonly manufactured in black colour, such as like laptops, PCs, mobile phones, and televisions.
Geographically, the North American region is expected to represent a significant share in the carbon black market during the forecast period. This is due to the surging usage of furnace black in air springs, homes, belts, and vibration isolation devices. Additionally, there is an enhanced adoption of specialised grades of carbon black in coatings and ink applications in the region.
Meanwhile, the Asia Pacific region is expected to witness growth in the market share of carbon black on account of the high production capacity of carbon black in the region, especially in China. In China, there is rising usage of carbon black in plastic goods and tyre production.
Key Market Players
The major players in the global carbon black market report are:
- Birla Carbon
- Cabot Corporation
- Continental Carbon Company
- Orion Engineered Carbons S.A
- PCBL Limited
- Mitsubishi Chemical Corporation
- Jiangxi Black Cat Carbon Black Co., Ltd
- Tokai Carbon Co., Ltd
- Longxing Chemical Stock Co., Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players. The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.