New York, USA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global Carbon Black Market value in 2021 was USD 13.45 billion; by 2030, it will reach USD 21.85 billion with a 5.5% CAGR. Carbon Black is formed when hydrocarbons like oil and natural gas partially burn or decompose under controlled temperature and pressure. It primarily comprises carbon, with few amounts of oxygen, sulphur, hydrogen, and nitrogen. It is widely used in many industries, like the paint and automotive industries. In tires and other rubber products, it is used as a strengthening agent and filler.
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Carbon Black Market Insights:
- On the basis of the process, black furnace segment accounted for the majority of the market share.
- In the year 2021, the standard grade segment ruled the overall carbon black market on the basis of grade.
- On the basis of application, the tire segment will be the fastest-growing market during 2021-2030.
- Geographically, Asia Pacific was the largest regional market in 2021 and contributed for USD 7.15 billion.
Factors accelerating the Carbon Black Market growth:
The growth of the rubber industry and the usage of carbon black in the paint and coating industries are the factors accelerating the market's overall growth.
- The rubber industry's exponential expansion is driving the market's growth. The manufacture of tires, hoses, wires and cables, air springs, belts, windows and doors, and gaskets depends on rubber products. Carbon black is frequently used as filler to enhance and strengthen the physical properties of rubber compounds. Additionally, it supports rubber's volume and carbonization.
- In the automotive industry, carbon black paint is frequently used to paint automobiles. It also functions as a pigment in other paints and coatings. The expanding paints and coatings sector is giving carbon black manufacturers more opportunities. The substance is not only used in paints but also in toners and printing inks, which expands the size of the black market for carbon.
Carbon Black Market: A thorough Segmentation Analysis
The worldwide and global Carbon Black Market segmentation has been performed on the basis of process, application, grade, and region.
By Process:
- Channel Black
- Acetylene Black
- Lamp Black
- Furnace Black
By Grade:
- Standard Grade
- Speciality Grade
By Application
- Coatings
- Plastics
- Toners
- Printing Inks
- Tires
By Region
North America
- Mexico
- Canada
- United States
Europe
- United Kingdom
- France
- Germany
- Russia
- Rest of Europe
Asia Pacific
- India
- Japan
- China
- Korea
- Rest of Asia Pacific
LAMEA
- Saudi Arabia
- Brazil
- Rest of LAMEA
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On the basis of process, black furnace segment accounted for the maximum of the market share, and by 2032 it will be worth $33 billion. A black furnace is an ideal option for mass production because it uses commonly available raw materials such as petroleum oil or coal oil to create high-temperature gases. This method is used by carbon black manufacturers to cost-effectively produce high yields. Additionally, this process allows for more control over aspects like particle size and structure, which promotes demand for a product.
In 2021, the standard grade segment ruled the overall carbon black market on the basis of grade. The standard grade segment will continue to rule as industrial applications expand. Standard grade rubber-based products such as wires, cables, and tires are widely used in a variety of industrial applications, which has resulted in the dominance of this segment. The market for specialty grade will grow rapidly due to its expanding use in the coatings & plastics, and inks industries.
Geographically, Asia Pacific was the largest regional market in 2021 and contributed for USD 7.15 billion. China is the biggest consumer and producer of carbon black. The expansion of the carbon black market in China is due to the growing usage of carbon black in plastic and tire goods production. Additionally, growing R&D activities, along with product advancements, will accelerate the market for the Asia Pacific region.
| Report Attribute | Details | |
| Forecast Period | 2021 – 2030 | |
| Market size value in 2021 | USD 13.45 Billion | |
| The Revenue forecast in 2030 | USD 21.85 Billion | |
| Growth rate | 5.5% | |
| The base year for estimation | 2021 | |
| Historical data | 2017 - 2020 | |
| Quantitative units | Revenue in USD million/billion and CAGR from 2021 to 2030 | |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends | |
| Segments covered | Process, Grade, Application, Region | |
| Regional scope | Europe, Asia Pacific, North America, LAMEA | |
| Country scope | US, Canada, Mexico, Russia, Germany, UK, France, Rest of Europe, China, Japan, India, South Korea, Africa, Brazil, Middle East, Saudi Arabia Rest of Latin America, Rest of Asia Pacific | |
| Key companies profiled | Birla Carbon, Omsk Carbon Group, Continental Carbon Company, Atlas Organics Private Limited, International China Oak Investment Holdings Co. Ltd., Ralson, Cabot Corporation, Himadri Speciality Chemical Limited, Tokai Carbon Co Ltd., Orion Engineered Carbons GmbH, Philips Carbon Black Limited | |
Key players in Carbon Black Market:
- Tokai Carbon Co, Ltd.
- Birla Carbon
- Ralson
- Orion Engineered Carbons GmbH
- Atlas Organics Private Limited
- Omsk Carbon Group
- Cabot Corporation
- Himadri Speciality Chemical Limited
- Philips Carbon Black Limited
- International China Oak Investment Holdings Co., Ltd.
- Continental Carbon Company
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Recent Development
- Intertex World Resources, Inc., and Origin Materials, Inc., the world's leading carbon negative Materials Company announced a collaboration to bring and foster sustainable carbon negative carbon black made by utilizing Origin Materials patented technology platform to the rubber compounding and plastic manufacturing industries.
- Birla Carbon, a carbon black manufacturer, has announced plans to add 200 kilotonnes per annum of capacity globally in response to rising demand.
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