Carbon Black Market Share, Growth & Trends Report 2032
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The global carbon black market size was valued at USD 27.44 billion in 2023 and is projected to grow from USD 28.76 billion in 2024 to USD 41.28 billion by 2032, exhibiting a CAGR of 4.6% during the forecast period. The rise is driven by the increasing deployment of the product in tire manufacturing and the growing plastic demand for automotive, consumer goods, and electronics industries.
Fortune Business Insights™ provides this information in its research report, titled “Carbon Black Market, 2025-2032”.
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Segmentation Analysis:
Furnace Black Segment to Lead Due to Rising Demand from Rubber Manufacturers
Based on process type, the market is segmented into acetylene black, furnace black, thermal black, and others.
- The furnace black segment is expected to dominate the market with a notable CAGR during the forecast period.
- This dominance is attributed to the increasing use of furnace black as a strengthening agent by rubber manufacturers across the globe.
Q: Why is the furnace black segment leading the carbon black market?
A: Furnace black is widely preferred by rubber manufacturers because it enhances product strength and performance, making it ideal for use in tire and industrial rubber applications.
Standard Grade Segment to Grow Rapidly with Expanding Industrial Use
By grade, the market is bifurcated into standard grade and specialty grade.
- The standard grade segment is projected to grow significantly over the analysis period.
- This growth is driven by the rising adoption of standard-grade carbon black in diverse industrial applications, including plastics, coatings, and rubber products.
Q: What factors are fueling the demand for standard-grade carbon black?
A: Its versatility and cost-effectiveness make it a preferred material across various industries, particularly in manufacturing and construction sectors.
Tire Segment to Dominate Supported by Automotive Industry Growth
On the basis of application, the market is divided into tire, non-tire rubber, inks & toners, plastics, and others.
- The tire segment is projected to hold the largest market share and register robust growth.
- The surge is primarily driven by the rapid expansion of the automotive industry and the increasing production of vehicles worldwide.
Q: How does the automotive industry influence the carbon black market?
A: The growing global automotive production directly boosts the demand for carbon black, as it is a key component in tire manufacturing to improve durability and performance.
Drivers and Restraints:
Expansion of the Rubber Industry to Propel Market Growth
- Rising demand from consumer goods, electronics, construction, and automotive sectors is driving the rubber industry’s growth.
- This expansion, in turn, amplifies the need for carbon black, particularly as a reinforcing material in rubber-based products.
Q: What is the main growth driver for the carbon black market?
A: The growing rubber and automotive industries are the primary catalysts, as carbon black is a critical input in tire and rubber product manufacturing.
Restraint – Environmental Concerns May Hinder Growth
- The production process of carbon black releases hazardous gases, which pose environmental challenges.
- Stricter emission regulations could potentially limit production expansion and impact overall market growth.
Q: What is the major challenge facing the carbon black market?
A: Environmental concerns related to carbon emissions during production remain a key restraint for manufacturers.
Regional Insights:
Asia Pacific to Lead the Global Market
- The Asia Pacific region is anticipated to register strong growth and dominate the global carbon black market.
- This is attributed to the high demand from the tire and plastic manufacturing industries, particularly in China, India, and Japan.
North America to Record Steady Growth
- The North American market is expected to grow at a healthy pace due to increasing product utilization in vibration isolation devices and rubber-based industrial goods.
Q: Which region holds the largest share of the carbon black market?
A: Asia Pacific remains the dominant region owing to large-scale tire manufacturing and expanding industrial applications.
Q: What drives carbon black demand in North America?
A: The growing automotive aftermarket and rising use of carbon black in vibration control products and industrial rubber applications are key drivers.
Key Industry Development:
- May 2023: Orion Engineered Carbons increased its gas black production capacity in Germany, reinforcing its position as a leading player in the specialty carbon black market.
- December 2022: International CSRC Investment Holdings Co., Ltd announced a short-term (2022–2024) investment plan focused on research and development to produce advanced specialty carbon blacks, including antistatic, static dissipative, and conductive grades. This strategic initiative aims to enhance the company’s global market share.
List of Key Players Mentioned in the Report:
- Birla Carbon Thailand Public Co. Ltd. (Thailand)
- Cabot Corporation (U.S.)
- Orion Engineered Carbons SA (Germany)
- Phillips Carbon Black Limited (India)
- CSRC Group (Taiwan)
- Omsk Carbon Group (Germany)
- OCI COMPANY Ltd. (South Korea)
- Himadri Speciality Chemicals Ltd. (India)
- Longxing Chemical Industry Co., Ltd. (China)
- Mitsubishi Chemical Holdings Corporation (Japan)
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