Carbon Black Market Analysis

Global Carbon Black Market Overview

Carbon Black Market Size was valued at USD 14.45 Billion in 2023. The Carbon Black industry is projected to grow from USD 15.1 Billion in 2024 to USD 21.47 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032).

Carbon black is derived from the pyrolysis of dense petroleum feedstocks such as ethylene cracking tar, coal tar, or FCC tar. It is widely embraced due to its advantageous qualities, including the ability to absorb ultraviolet (UV) radiation and convert it into heat, enhanced thermal conductivity and higher durability and resistance to tyre tread wear and rolling. Processes such as oil furnaces and thermal methods are primarily utilized in the production of goods. A significant amount of carbon black is specifically utilized in tyres as an extraordinary enhancer of rubber. Carbon black is a highly effective colouring ingredient that is widely utilized as a black pigment in many applications, such as printing inks, resin colouring, paints, and toners. In addition, carbon black is widely used in various applications as an electrically conductive substance, including antistatic coatings, fibres, and floppy disks. The expansion of the carbon black market is estimated to be driven by the growing utilization of this technology in the tyre industry, ink and coating industry and automotive sector.

Carbon Black Market Trends Insights 

The trend of maximizing the use of tyres and industrial rubber products, along with the growing demand for plastic goods manufacturing is driving the market growth. 

Carbon black is a commonly utilized reinforcement in the tyre industry due to its significant impact on the mechanical and dynamic characteristics of tyres. It is employed in diverse compositions with various rubber types to tailor the performance characteristics of tyres. Carbon black is mostly necessary for the inner liners, sidewalls, and carcasses, which when included in rubber compositions, possesses heat-dissipation properties. Additionally, it enhances the vehicle's manoeuvrability, extends the lifespan of the tyre treads, and increases fuel efficiency. Additionally, it also offers protection against abrasion and is utilized in automotive tyres and other rubber goods as a filler, enhancing its strength and reinforcing properties. Due to its crucial applications in the manufacturing of tyres and rubber products, the carbon black market is anticipated to experience expansion in line with the trends observed in these industries. Furthermore, The World Business Council for Sustainable Development (WBCSD) states that the tyre industry accounts for almost 70% of natural rubber consumption. The need for natural rubber is growing, leading to various social, economic, and environmental opportunities in the production of this crucial raw resource. Apart from this, the demand for tyres in the emerging passenger vehicle and light truck categories has been experiencing a consistent rise, and the rapid expansion of the automotive sector, encompassing both traditional and electric cars, is a crucial catalyst for the expansion of tyre and tyre component production. 

The carbon black substance is mostly utilized in the plastic industry as a conductive filler, pigment, and particle-reinforcing agent. It is commonly employed as a filler in the production of many plastic items, including industrial bags, pipelines, photographic containers, films, and stretch wraps. The need for it is ascribed to its antistatic characteristics, thermal conductivity, and high strength. Moreover, they function as UV light absorbers, which help safeguard plastic from discolouration, chalking, fading, and cracking. Carbon black is the primary choice of several electronic manufacturers, for their efficient production of many electronic goods, such as computers, televisions, laptops, and cell phones. This further augment the demand for carbon black from the electronic industry, which eventually contributes to increased product usage in the manufacturing of plastic items and is expected to drive market growth. 

Carbon Black Market Segment Insights

The carbon black market is primarily segmented based on process type and end-use. 

Based on Process type, the carbon black market is further divided into furnace black, channel black and acetylene black. Out of which, the furnace black segment dominates the market and is said to grow at the fastest growth rate during the forecast period. The said product is derived from the incomplete combustion of petroleum oil or coal oil using an oil furnace. This technology enables efficient manufacturing of carbon black with diverse particle shapes and sizes on a large scale. Additionally, this particular variety is extensively employed as a reinforcing agent in the manufacturing of rubber. 

Following the furnace black segment, the thermal black segment holds the second-highest market share globally. Acetylene black is derived from acetylene gas by a thermal breakdown method. The product's exceptional conductivity and exceptional purity make it suitable for creating silicon goods, electric power cables, and dry cells.   

Based on end-use, the carbon black market is further divided into Tyre, Non-Tyre, Paints & Coatings, Inks, and Plastics. Out of which, tyre segmentation dominates the market share. The reason behind tyre segmentation being a dominating one is the automotive sector, which has fuelled the consumption of tyres and aided in the product demand ratios. Following the tyre segment, the non-tyre rubber segment is estimated to have a surge in demand as shock-absorbent and reinforcing materials are used in several industrial ventures, including rubber goods. 

Carbon Black Market Region Insights 

The carbon black market is primarily studied across four major regions, namely North America, Europe, Asia-Pacific, and the Rest of the World. Out of which, the Asia-Pacific region dominates the market share. Demand for carbon black is projected to soar in the rubber reinforcement process, electrical and electronics, and other sectors, with the Asia Pacific region leading the way. In addition to the economic growth in China and India, the developing economies of those countries have also contributed to an increase in demand for conductive carbon black. Additionally, the APAC market benefits from increased foreign investments as well as improved regulatory environments. Additionally, multinational corporations have also relocated manufacturing to India, Vietnam, and China to take advantage of the lower labour costs and the government's support. Apart from this, there is also a rapid expansion of the automobile industry in the APAC region, which creates additional value for the market.

Followed by the APAC region, the market expansion in North America can be attributed to the increasing acceptance of speciality grades in ink and toner applications. Moreover, the increasing use of furnace black in belts, vibration isolation devices, air springs, and hoses would stimulate market expansion in North America. Furthermore, the exponential expansion of the automobile sector will significantly increase the need for carbon black in Europe. The increased utilization of the substance is evident in many components of tyres, including carcasses, inner liners, treads, and sidewalls. The increasing demand for tyres and other rubber products from the automotive sector would enhance the market in Latin America and the Middle East & Africa

Carbon Black Market Key Players & Competitive Insights 

Several key competitors in the carbon black market employ capacity expansion as their crucial strategy. Apart from this, leading key players in the market employ key strategies which include, expansion, partnership deals, mergers & acquisitions, etc. which help the business to expand at a rapid pace and allow the companies to have expansion.

Carbon Black Market Key Companies Insights 

• Shijiazhuang Xinxing Chemical Carbon Co. Ltd.


• Cabot Corporation


• Orion Engineered Carbons


• Tokai Carbon Co. Ltd.


• Mitsubishi Chemical Corporation


• JINNENG


• Himadri Speciality Chemical Ltd.


• ChemChina


• Jiangxi Black Cat Carbon Black Inc. Ltd.


• Phillips Carbon Black Ltd.


• NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD.


• Sid Richardson Carbon and Energy Co. Ltd.


• OCI COMPANY Ltd.


• Suzhou Baohua Carbon Black Co. Ltd.


• Longxing Chemical


• Shandong Huadong Rubber Materials Co. Ltd. 

Recent Developments 

December 2020 - 

In December 2020, Safic-Alcan signed a distribution agreement with Orion Engineered Carbons in South Africa, to enhance their business and sales operations in the African region. 

May 2023 - 

In May 2023, Orion Engineered Carbon announced that they are expanding their production capacity for gas black in Germany to strengthen its leadership in the carbon black domain. 

May 2021 - 

In May 2021, Birla Carbon signed a partnership deal with Circle, a leading producer of sustainable carbonaceous materials, to create their monopoly in being the largest source of sustainable carbonaceous materials.