The Carbon Black Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Carbon Black Global Market Report 2024, The carbon black market size has grown strongly in recent years. It will grow from $17.83 billion in 2023 to $19.32 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased tire manufacturing, automotive industry growth, rubber goods production, construction sector growth, printing inks and toners.
The carbon black market size is expected to see strong growth in the next few years. It will grow to $26.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to emerging economies development, increasing specialty carbon black applications, stringent emission standards, consumer electronics growth. Major trends in the forecast period include technological advancements in production, integration of carbon black in plastics, water-borne carbon black dispersions, strategic mergers and acquisitions, smart packaging trends.
The growing automotive industry is expected to propel the growth of the carbon black market going forward. The automotive industry refers to the manufacture or sales of different types of vehicles. Black carbon is widely used for making the inner liners, sidewalls, and treads of tires as it increases the strength and longevity of tires. Carbon black is used in the automobile industry to improve the processing, strength, and durability of tires and also improve tire performance. For instance, according to Plastic Today, a US-based plastics processing company, the use of carbon fibers in the US automotive industry is expected to reach nearly 9,800 tons by 2030. Therefore, the growing automotive industry is driving the growth of the carbon black market.
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The carbon black market covered in this report is segmented –
1) By Type: Furnace Black, Channel Black, Thermal Black, Acetylene Black, Other Types
2) By Grade: Standard Grade, Specialty Grade
3) By Application: Tire, Non-Tire Rubber, Inks and Coating, Plastic, Other Applications
Major companies in the carbon black market are focused on developing innovative products, such as pelletized reinforcing carbon black, for enhanced rubber product safety and to gain a competitive edge in the market. A pelletized reinforcing carbon black is a form of carbon black engineered into pelletized particles for enhanced handling and efficient incorporation into rubber products during manufacturing. For instance, in October 2021, Cabot Corporation, a US-based specialty chemicals and performance materials company, launched VULCAN 3-LP carbon black, an addition to its LP carbon black series, designed for rubber applications requiring low polycyclic aromatic hydrocarbon (PAH) content. This pelletized reinforcing carbon black offers enhanced reinforcement, strength, abrasion, and tearing resistance for end-use rubber products, meeting stringent regulatory requirements. Positioned for consumer rubber goods, food contact applications, and potable water contact, VULCAN 3-LP complies with global standards limiting PAH content in specific rubber applications.
The carbon black market report table of contents includes:
1. Executive Summary
- Carbon Black Market Characteristics
- Carbon Black Market Trends And Strategies
- Carbon Black Market – Macro Economic Scenario
- Global Carbon Black Market Size and Growth
. - Global Carbon Black Market Competitive Benchmarking
- Global Carbon Black Market Competitive Dashboard
- Key Mergers And Acquisitions In The Carbon Black Market
- Carbon Black Market Future Outlook and Potential Analysis
- Appendix
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