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Carbon Black Market size is estimated to grow by USD 4,867.17 million between 2022 and 2027 accelerating at a CAGR of 4.94% during the forecast period. The growth of the specialty carbon market depends on several factors, including the increasing use of carbon black in end-user industries, the rising demand for specialty carbon black, and the increasing demand for carbon black in APAC.
This carbon black market report extensively covers market segmentation by end-user (tires, non-tires rubber, and non-rubber), grade type (specialty grade and standard grade), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing use of carbon black in end-user industries is the key factor driving the growth of the global carbon black market. Rubber is used in many end-use industries such as automotive, medical, and pharmaceutical. In the medical and pharmaceutical industry, it is used for injection vials, infusion container closures, lyophilization, and blood collection tubes. In automotive air conditioning systems, carbon black reinforced rubber seals are used on fittings, shafts, and hoses to prevent leaks. Carbon black is used as a reinforcement and pigment agent in automobile tires. It helps in keeping away heat from the tread and belt area, thereby reducing thermal damage and increasing the life of tires.
The global automotive industry will register a moderate growth rate during the forecast period. The increasing production of tires in the automotive industry accelerates the demand for carbon black. The rising demand for rubber tires in the automotive industry will drive the global carbon black market during the forecast period. The increasing use of rubber in end-user industries will positively impact the global specialty carbon market during the forecast period.
Increasing demand for sustainable carbon black is the primary trend shaping the global carbon black market growth. Global demand for sustainable carbon black is rising as a result of the movement toward sustainability in the chemical sector. As a more environmentally friendly substitute for conventional carbon black, which is made from fossil fuels, bio-based carbon black, which is manufactured using renewable feedstocks such as vegetable oil, is gaining popularity.
Recycled carbon black is also becoming more popular because it is made by recycling old tires or other debris, which cuts down on the quantity of rubbish that is dumped in landfills. Bolder Industries and Black Bear Carbon are two examples of businesses that produce sustainable carbon black. The need for sustainable carbon black is anticipated to increase between 2023-27 as consumers and regulators place more importance on sustainability, which, in turn, is expected to drive the growth of the specialty carbon market during the forecast period.
Increasing usage of silica as reinforcing fillers is a major challenge impeding the growth of the global carbon black market. Amorphous silica and carbon black are used as reinforcing fillers in the rubber industry. These fillers improve tire strength, durability, and longevity. Silica is commonly used in tires to reduce greenhouse gas emissions from vehicles. The use of silica in tire manufacturing poses a serious challenge to the global carbon black market.
Amorphous precipitated silica is used in the rubber industry and is commonly made from glassy silicates. The vitreous silicate is dissolved in water and transferred to a reactor where amorphous silica is precipitated by acidification and stirring. Amorphous precipitated silica is used as a substitute for carbon black as it reduces greenhouse gas emissions from vehicles. The use of amorphous precipitated silica will adversely affect the global specialty carbon market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Carbon Black Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aditya Birla Management Corp. Pvt. Ltd.: The company offers carbon black solutions through its subsidiary Birla Carbon. Also, the company offers viscose staple fiber, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, insulators, financial services and telecom.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the tires segment will be significant during the forecast period. Carbon black is extensively used for manufacturing tires and helps enhance their performance properties. It functions as a pigment that imparts a black color to the tires. It increases the service life of tires by protecting the tread from heat generated by friction.
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The tires segment was valued at USD 10,950.31 million in 2017 and continued to grow until 2021. Factors such as the ever-rising population and increasing purchasing power increase the demand for automobiles. The rising global vehicle production is instrumental in driving the growth of the global carbon black market during the forecast period. Europe is a key automotive manufacturing region. Germany and Italy are some of the key automotive markets.
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APAC is estimated to contribute 49% to the growth of the global specialty carbon market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing rubber production in China, India, Malaysia, and Indonesia will drive the growth of the carbon black market in the region during the forecast period. Rubber is extensively used in end-user industries such as automotive, pharmaceuticals, packaging, electronics, and electrical, which will significantly increase the demand for carbon black. Rubber is used in tires, rubber hoses, and insulating materials.
APAC will be the fastest-growing market during the forecast period. Several countries in the region, including China, India, Indonesia, Thailand, and Malaysia, are the major producers and consumers of carbon black. The increasing use of rubber and non-rubber products will drive the consumption of carbon black in the region during the forecast period.
In 2020, the outbreak of COVID-19 led to a decline in the growth of the regional carbon black market. However, with the initiation of vaccination drives, the number of COVID-19 cases declined in the first half of 2021, which led to the lifting of lockdown restrictions in the region. Eventually, factories and manufacturing units reopened, and construction activities also gained pace. Additionally, companies are gaining a competitive advantage by manufacturing products in the market. For instance, in May 2020, the company received the International Automotive Task Force (IATF) certification. This makes the company the first and only global carbon black manufacturer to achieve this certification. The presence of such major vendors in the region and the launch of carbon black products will supplement the growth of the specialty carbon market in the region during the forecast period.
The carbon black market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Carbon Black Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.94% |
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Market growth 2023-2027 |
USD 4,867.17 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.34 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 49% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abu Dhabi National Oil Co., Aditya Birla Management Corp. Pvt. Ltd., Bridgestone Corp., Cabot Corp., CSRC Investment Holdings Co. Ltd., DCL Corp., Himadri Speciality Chemical Ltd, Imerys S.A., Kemipex, Longxing Chemical Industry Co. Ltd., Mitsubishi Chemical Corp., Nippon Steel Corp., Nouryon Chemicals Holding BV, OCI Co. Ltd., Omsk Carbon Group, Orion Engineered Carbons SA, Phillips Carbon Black Ltd., Saudi Basic Industries Corp., Tokai Carbon Co. Ltd., and Dow Chemical Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Grade Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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