London, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The quest for lasting tires for enhanced performance prevails and carbon black continues to play a pivotal role in the tire reinforcement process. Growing application by tire industry remains the key driving force for healthy expansion of carbon black market. Up from the valuation of around US$17.4 Bn registered in 2018, global carbon black market is likely to rise up to US$23.6 Bn toward the end of 2025. Between the years of forecast, 2021 and 2025, the market is expected to witness nearly 6.5% growth as projected by a recent published report of Fairfield Market Research. The report further highlights significant adoption of carbon black as a preferred black pigment, rheology modifier, insulating or conductive agent, and UV stabilizer. The global e-mobility drive that has been creating a boom around electric vehicles will also contribute heavily toward the growth of carbon black market, says the report.
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Key Research Insights
- Tire replacement contributes more than 2/3rd of the global tire demand
- MRG accounts for around 90% of the global carbon black consumption owing to the cost benefit
- In 2019, more than 13.9 MT carbon black was consumed globally, and specialty carbon black represented nearly 8% of it
Insights into Segmental Analysis
Among the three grades of carbon black that are widely consumed by the end-use industries, research reveals substantial contribution of rubber carbon black, and mechanical rubber goods (MRG). Both the segments recorded a collective revenue share of over 92% in the market in 2019. Furthermore, the report indicates rapid demand surge in case of the third carbon black segment, i.e., specialty carbon black. This demand growth is attributable to a host of niche markets attaining maturity. The EV boom that has been boosting the sales of both Li-ion and lead acid batteries will also favour the sales of specialty carbon black as it finds application in the electrodes of both the battery types. Specialty carbon black is also expected to gain significantly from growing usage in the making of printing ink toners, solid carbons, plastics, wire and cables, and sealant systems throughout the period of assessment.
Auto industry’s aggressive expansion has played an important role in building up carbon black sales worldwide. Tire industry alone registered a revenue share of around 70% in global carbon black market and the trend will prevail through the end of forecast period. Carbon black adoption in tire replacement in addition to manufacturing of a host of automotive parts like mechanical rubber goods, anti-vibration components, wiper blades, dashboards, and sealant systems is projected to heighten the growth prospects of market. Moreover, opportunities in shoe soles, and electronic packaging applications further boost the growth curve of carbon black market, says the report.
Key Report Highlights
- Tire industry accounts for around 70% of the overall demand generation in carbon black market
- Asia Pacific will maintain around 60% market share by 2025, led by China, India, Thailand, and Indonesia
- China alone contributes nearly 40% to global carbon black production volumes
Insights into Regional Analysis
Auto industry’s growth, cheaper manufacturing costs, and supportive government norms collectively underpin Asia Pacific’s leading position in global carbon black market. Moreover, presence of some of the world’s biggest coal mines will further contribute toward the region’s high attractiveness in the market. With leading markets like China, India, Indonesia, and Thailand, Asia Pacific will remain the top region with around 3/5th of market share in carbon black space. Among these, China alone accounts for more than 40% of the global carbon black production volume and will thus continue to be the most profitable market throughout the period of projection.
Leading Market Players in Global Carbon Black Landscape
Cabot Corporation, Phillips Carbon Black Ltd, Birla Carbon, Orion Engineered Carbons, CSRC Group, OMSK Carbon, Tokai Carbon Co. Ltd., JSC, Asahi Carbon Co. Ltd., Jiangxi Black Cat Carbon, Himadri Speciality Chemical Limited
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2020 | US$17.4 Bn | |
| Estimated Market Size in 2025 | US$23.6 Bn | |
| CAGR | 6.5% | |
| Key Players | Cabot Corporation, Birla Carbon, Orion Engineered Carbons, Jiangxi Black Cat Carbon, Tokai Carbon Co., Ltd. | |
Market Segmentation
Product Coverage
- Rubber Carbon Black
- MGR
- Specialty Black
Application Coverage
- Tires
- Rubber Goods
- Plastics
- Inks & Toners
- Batteries
- Paints & Coatings
- Misc. (Wires & Cables, Consumer Goods, etc.)
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Cabot Corporation
- Birla Carbon
- Orion Engineered Carbons
- Jiangxi Black Cat Carbon
- Tokai Carbon
- CSRC Group
- Phillips Carbon Black Ltd
- OMSK Carbon
- JSC
- Asahi Carbon Co. Ltd.
- Himadri Speciality Chemical Limited
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Grade-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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