Carbon Black Market by Process (Furnace Black, Channel, Acetylene Black, and Lampblack), Grade (Specialty and Conductive), and Application (Tires, Coatings, Plastics, Printing Inks, and Toners) - Global Opportunity Analysis and Industry Forecast 2021-2030

Market Definition:

The global Carbon Black Market size was valued at USD 15.24 billion in 2020 and is predicted to reach USD 22.13 billion by 2030 with a CAGR of 3.8% from 2021-2030.

Carbon black is a type of para-crystalline carbon, which contains 95% pure carbon along with small amounts of hydrogen, oxygen, sulfur, and nitrogen. It is obtained through incomplete combustion of heavy petroleum products and helps improve the physical and mechanical properties of the final product. Carbon black is widely used in the production of tires, plastics, mechanical rubber products, printing inks and toners. It acts as a reinforcing agent and reduces thermal damage to the tires by conducting heat away from the tread and belt area and thereby extending the life of the tire.

Market Dynamics and Trends:

The carbon black market is primarily driven by the increasing demand from automotive industry. It is also used in the construction industry, as the mixture of carbon black with cement enhances uniformity, surface hardness, tensile strength and compressive strength. Additionally, it has considerable demand for strengthening various industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hoses.

In the paint industry, it is used for its physical properties such as color stability, solvent resistance and thermal stability that help produce high-performance coatings suitable for marine and aerospace industries. As a filler, the product is used in the manufacturing of a variety of plastic products such as pipes, films, stretch wraps, photographic containers, and industrial bags. Due to a such wide range of applications across industries, the charcoal black market is expected to grow in the coming years.

However, the increasing use of silica as a substitute, fluctuations in the raw material prices and environmental concerns are expected to restrain the growth of the market to some extent. On the other hand, increased usage of carbon black in plastic manufacturing and the growing adoption of plastics in electrical component manufacturing are expected to provide lucrative opportunities to the manufactures in the near future.

Market Segmentations and Scope of the Study:

The global carbon black industry is segmented on basis of process, grade, application, and region. On the basis of process, the market is classified as furnace black, channel, acetylene black, and lampblack. Based on grade, the market is divided into specialty and conductive. On the basis of application, the market is categorized into tires, coatings, plastics, printing inks, and toners. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

Asia Pacific dominates the carbon black market and is anticipated to maintain this trend throughout the forecast period. This is primarily due to the growth of the automotive industry in countries such as India, Indonesia, South Korea and China, which has increased the demand for rubber and tires. Major manufacturers are shifting their manufacturing facilities to this region owing to low-cost labour and support from respective governments. Also, China contributes more than 40% of the global carbon black production apart from housing the world’s largest automotive industry.

However, North America is expected to show a steady rise in charcoal black market due to the increasing use of specialty grades in ink and coating applications. In addition, the increasing use of furnace black in hoses, air springs, vibration isolation devices and belts is expected to drive the market growth in this region. North America's carbon black industry is dominated by the U.S., both in terms of product consumption as well as production.

Competitive Landscape:

Lucrative growth opportunities make the global carbon black market extremely competitive. Some of the major players in the market are BASF SE, Dow Inc., Mitsubishi Chemical Holdings, Orion Engineered Carbons S.A., Nouryon, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, and SABIC. Strategic alliances, acquisitions and innovations along with R&D are key strategies adopted by market players to maintain their market dominance.

For instance, in June 2021, Orion Engineered Carbons S.A. launched ECORAX Nature, a highly reinforcing carbon black grade made from renewable feedstocks, which can be used in critical tire tread construction. Also, in May 2021, Birla Carbon introduced Sustainable Carbonaceous Material with the launch of CONTINUA. This represents the availability of sustainable solutions in the carbon black industry.

Key Benefits:

• A brief description about the carbon black industry with current trends and future estimations is provided by it to explain its market outlook.

• It offers a quantitative analysis of the current market trends and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the carbon black market trend including the current and future trends for depicting prevalent investment pockets in the report.

• It shares information related to key drivers, restraints and opportunities and their impact on the carbon black market.

• It includes key market players, market share, which helps understand their competitive analysis.

• The competitive analysis of the market players along with their market share in the carbon black market has been discussed in the report.

• The SWOT analysis and Porter's Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholder’s role.

Carbon Black Market Key Segments:

By Process

• Furnace Black

• Channel Black

• Acetylene Black

• Lamp Black

By Grade

• Specialty Grade

• Conductive Grade

By Application

• Tires

• Coatings

• Plastics

• Printing Inks

• Toners

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Italy

  • Germany

  • Spain

  • Netherlands

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Taiwan

  • Vietnam

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East 

  • Africa

REPORT SCOPE AND SEGMENTATION:

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