Carbon Black Market Forecasts to 2028 - Global Analysis By Product (Acrylic, Nylon, Polyester), Form (Rubber Master batches , Plastic Master batches ), Grades (Specialty Grade, Conductive Grade) and By Geography
Estimated Year Value (2022)
US $20.86 BN
Projected Year Value (2028)
US $28.76 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Fastest Growing Market
According to Stratistics MRC, the Global Carbon Black Market is accounted for $20.86 billion in 2022 and is expected to reach $28.76 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Carbon black (Color Index International, PBK-7) is the name of a common black pigment, traditionally produced from charring organic materials such as wood or bone. It appears black because it reflects very little light in the visible part of the spectrum, with an albedo near zero.
According to Kordsa Teknik Tekstil AS, the global tire industry’s volume reached 1.498 billion units in 2020, a dip of 11.5% from 2019. Besides, the total global tire industry volume is projected to reach 1.813 billion units by 2023. According to the Association of Natural Rubber Producing Countries, the outlook for world demand on natural rubber (NR) is estimated to grow by 9.3% Y-o-Y to 14.1 million ton in 2021. China contributes nearly 33% of the global carbon black production capacity, with a volume of almost 5.7 million metric ton in 2019.
Growing acceptance of electric cars
Increasing environmental regulations is driving the trend of electric car manufacturing, which in turn, is increasing demand for high-quality ingredients in batteries to ensure that drivers reach their destinations safely. The lithium-ion battery has become an essential part of modern life, and portable electronic devices, such as cell phones, laptops, and power-tools were the first to use this technology. However, the batteries for electric vehicles must meet rigorous performance and economic metrics. The lithium-ion battery formulation typically consists of three components - active material, conductive additive, and binder. Although conductive additive comprises less than five percent of typical lithium-ion battery formulations by weight, it is crucial for maximizing energy density and rate capability. Carbon black dominates the market of conductive additives, as unlike other additives, it can create robust electrical networks in electrodes.
Since its price is more or less completely determined by raw materials, variations in the prices of these products can have a major impact on global demand. Instability in the price of crude oil could influence the pricing of the target product in the upcoming years.
High demand for carbon black in rubber industry
Carbon black is also mainly used in the rubber industry. Carbon black makes rubber stronger and unaffected to wear and tear. It also avoids rubber tires against UV light and oxidation. Nearly all rubber compounds use carbon black as filler. Carbon black filler helps strengthen, increase volume, and improve the physical properties of rubber. It also helps strengthen vulcanization. It is used in mechanical rubber goods including industrial rubber goods, membrane roofing, and automotive rubber parts (such as sealing systems, hoses and anti-vibration parts); and general rubber goods (such as hoses, belts, gaskets, and seals). Almost 90% of carbon black is used in the rubber industry in automotive and non-automotive applications. Around 70% of carbon black is used in tire application, while 30% is employed in non-tire applications.
CO2 emissions in the production process
It is formed by the reaction of hydrocarbon fuels. The unburned carbon remains as an extremely tiny fluffy black particle with size ranging from 10 to 500 nanometers (nm). It is mainly used as a reinforcing agent in rubber compounds, especially tires, and as a black pigment in printing inks, surface coatings, paper, and plastic products. Manufacture of carbon black emits particulate matter, carbon monoxide (CO), organics, nitrogen oxides, sulfur compounds, polycyclic organic matter (POM), and trace elements. Governments of many countries have, thus, issued regulations to reduce Sulphur oxides (Sox) and Nitrogen oxides (NOx) emissions in order to reduce air pollution, as well as to reduce greenhouse gas emissions. These can threaten revenue growth of the market to some extent over the forecast period.
Impact of Covid- 19
The market is severely affected by coronavirus pandemic, impacting various businesses and manufacturing activities. Disruption in value chain has led to huge losses for manufacturers operating in the global carbon black market. Even though the COVID-19 pandemic has weakened all business activities in the market, manufacturers are creating potential opportunities, owing to the increasing demand from various end-use industries such as tire, plastic, paint & coatings, etc. Increasing applications of carbon black in coating, printing inks, and plastic processing is creating revenue streams for manufacturers in the carbon black market.
The Furnace Black segment is expected to be the largest during the forecast period
The Furnace Black segment is expected to be the largest during the forecast period. This can be accredited to growing use of furnace black in various industries, such as rubber, tire, coating, and cosmetics. It is produced by incomplete combustion of petroleum oil or coal using an oil furnace, and this process allows mass production of this material with different particle shapes, sizes, and chemical compositions. It is widely used as a reinforcing agent in rubber manufacturing processes. Demand for tires in the automobile industry is increasing adoption of furnace black to reinforce rubber in tires and other rubber products, which is driving revenue growth of this segment.
The Tire segment is expected to have the highest CAGR during the forecast period
The Tire segment is expected to have the highest CAGR during the forecast period. The tire is one of those applications where carbon black is widely used for several purposes. Carbon black is used in different parts of tires such as inner-liners, carcasses, sidewalls, and treads, depending on the specific performance requirements. It improves the lifespan of tires as it conducts heat away from the tread and belt area of tires. In addition, carbon black also imparts color to tires.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the huge number of tires that need to be replaced; MRFR believes that North America, specifically the market in the United States, will perform extremely well. As a result of the automotive and construction industries thriving in the province, there is a huge demand for coatings, paints, and non-tire rubber, which serves the carbon black market well.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period there is a surging demand for carbon black in numerous end-use industries in Asia Pacific. This factor is boosting the production of it in the province. Factors responsible for major market share are raising automotive sector, increasing demand for vehicles, and industrialization in the area. The significant presence of market players in Asia Pacific. Market players operating in China and India are expected to witness potential revenue opportunities due to increasing demand and production of carbon black. Top market contributors are increasing their product portfolio to cater the rising demand from end-use industries.
Key players in the market
Some of the key players profiled in the Carbon Black Market include Birla Carbon, Cabot Corporation, ChemChina, Continental Carbon, Denka Company, Hebei Daguangming Juwuba Carbon Black Co. Ltd., Himadri Speciality Chemical Ltd., Imerys, Jiangxi Black Cat Carbon Black Inc. Ltd., JINNENG, Kremenchug Carbon Black Plant, Mitsubishi Chemical Corporation, NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD, OMSK Carbon Group, Orion Engineered Carbons Holdings, Phillips Carbon Black Ltd., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Tokai Carbon Co. Ltd.
In January 2021: Himadri Specialty Chemical Ltd has collobarated with Petrotech Group in Rajasthan for marketing their Carbon Black pigments.
In July 2021: Orion Engineered Carbons SA has partnered with RISE Research Institutes of Sweden in a project to develop and produce renewable carbon black (rCB).
In November 2020: Continental Carbon Company, has entered into an agreement with the Bolder Industries, a firm specializing in conversion of tires into renewable industrial products. The agreement entails commercialization of sustainable items for the worldwide plastics and rubber industries.
• Rubber Master batches
• Plastic Master batches
• Oil Pellets
• Aqueous Dispersions
• Specialty Grade
• Conductive Grade
• Furnace Black
• Channel Black
• Acetylene Black
• Lamp Black
• Thermal Black
• Other Processes
• Coloring (Pigmentation)
• Ultraviolet (UV) Protection
• Ink & Coatings
• Printing Inks
• Battery Electrodes
• Rubber Reinforcement
Distribution Channels Covered:
• Direct/Institutional Sales
• Retail Sales
End Users Covered:
• Building and Construction
• Printing and Packaging
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Carbon Black Market, By Product
6 Global Carbon Black , By Form
6.2 Rubber Master batches
6.3 Plastic Master batches
6.5 Oil Pellets
6.7 Aqueous Dispersions
7 Global Carbon Black Market, By Grades
7.2 Specialty Grade
7.3 Conductive Grade
8 Global Carbon Black Market, By Process
8.2 Furnace Black
8.3 Channel Black
8.4 Acetylene Black
8.5 Lamp Black
8.6 Thermal Black
8.7 Other Processes
8.7.1 Recycled Carbon Black
8.7.2 Carbon Black Produced as a by-product
9 Global Carbon Black Market, By Function
9.3 Coloring (Pigmentation)
9.5 Ultraviolet (UV) Protection
10 Global Carbon Black Market, By Application
10.3 Ink & Coatings
10.5 Printing Inks
10.7 Battery Electrodes
10.8 Rubber Reinforcement
11 Global Carbon Black Market, By Distribution Channel
11.2 Direct/Institutional Sales
11.3 Retail Sales
12 Global Carbon Black Market, By End User
12.3 Building and Construction
12.5 Printing and Packaging
13 Global Carbon Black Market, By Geography
13.2 North America
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.5 Other Key Strategies
15 Company Profiling
15.1 Birla Carbon
15.2 Cabot Corporation
15.4 Continental Carbon
15.5 Denka Company
15.6 Hebei Daguangming Juwuba Carbon Black Co. Ltd.
15.7 Himadri Speciality Chemical Ltd.
15.9 Jiangxi Black Cat Carbon Black Inc. Ltd.
15.11 Kremenchug Carbon Black Plant
15.12 Mitsubishi Chemical Corporation
15.13 NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD
15.14 OMSK Carbon Group
15.15 Orion Engineered Carbons Holdings
15.16 Phillips Carbon Black Ltd.
15.17 Shijiazhuang Xinxing Chemical Carbon Co. Ltd.
15.18 Tokai Carbon Co. Ltd.
List of Tables
1 Global Carbon Black Market Outlook, By Region (2020-2028) (US $MN)
2 Global Carbon Black Market Outlook, By Product (2020-2028) (US $MN)
3 Global Carbon Black Market Outlook, By Acrylic (2020-2028) (US $MN)
4 Global Carbon Black Market Outlook, By Nylon (2020-2028) (US $MN)
5 Global Carbon Black Market Outlook, By Polyester (2020-2028) (US $MN)
6 Global Carbon Black Market Outlook, By Form (2020-2028) (US $MN)
8 Global Carbon Black Market Outlook, By Rubber Master batches (2020-2028) (US $MN)
9 Global Carbon Black Market Outlook, By Plastic Master batches (2020-2028) (US $MN)
10 Global Carbon Black Market Outlook, By Pastes (2020-2028) (US $MN)
11 Global Carbon Black Market Outlook, By Oil Pellets (2020-2028) (US $MN)
12 Global Carbon Black Market Outlook, By Chips (2020-2028) (US $MN)
13 Global Carbon Black Market Outlook, By Aqueous Dispersions (2020-2028) (US $MN)
14 Global Carbon Black Market Outlook, By Grades (2020-2028) (US $MN)
15 Global Carbon Black Market Outlook, By Specialty Grade (2020-2028) (US $MN)
16 Global Carbon Black Market Outlook, By Conductive Grade (2020-2028) (US $MN)
17 Global Carbon Black Market Outlook, By Process (2020-2028) (US $MN)
18 Global Carbon Black Market Outlook, By Furnace Black (2020-2028) (US $MN)
19 Global Carbon Black Market Outlook, By Channel Black (2020-2028) (US $MN)
20 Global Carbon Black Market Outlook, By Acetylene Black (2020-2028) (US $MN)
21 Global Carbon Black Market Outlook, By Lamp Black (2020-2028) (US $MN)
22 Global Carbon Black Market Outlook, By Thermal Black (2020-2028) (US $MN)
23 Global Carbon Black Market Outlook, By Other Processes (2020-2028) (US $MN)
24 Global Carbon Black Market Outlook, By Recycled Carbon Black (2020-2028) (US $MN)
25 Global Carbon Black Market Outlook, By Carbon Black Produced as a by-product (2020-2028) (US $MN)
26 Global Carbon Black Market Outlook, By Function (2020-2028) (US $MN)
27 Global Carbon Black Market Outlook, By Reinforcement (2020-2028) (US $MN)
28 Global Carbon Black Market Outlook, By Coloring (Pigmentation) (2020-2028) (US $MN)
29 Global Carbon Black Market Outlook, By Conductivity (2020-2028) (US $MN)
30 Global Carbon Black Market Outlook, By Ultraviolet (UV) Protection (2020-2028) (US $MN)
31 Global Carbon Black Market Outlook, By Application (2020-2028) (US $MN)
32 Global Carbon Black Market Outlook, By Tires (2020-2028) (US $MN)
33 Global Carbon Black Market Outlook, By Ink & Coatings (2020-2028) (US $MN)
34 Global Carbon Black Market Outlook, By Plastics (2020-2028) (US $MN)
35 Global Carbon Black Market Outlook, By Printing Inks (2020-2028) (US $MN)
36 Global Carbon Black Market Outlook, By Toners (2020-2028) (US $MN)
37 Global Carbon Black Market Outlook, By Battery Electrodes (2020-2028) (US $MN)
38 Global Carbon Black Market Outlook, By Rubber Reinforcement (2020-2028) (US $MN)
39 Global Carbon Black Market Outlook, By Electronics (2020-2028) (US $MN)
40 Global Carbon Black Market Outlook, By Distribution Channel (2020-2028) (US $MN)
41 Global Carbon Black Market Outlook, By Direct/Institutional Sales (2020-2028) (US $MN)
42 Global Carbon Black Market Outlook, By Retail Sales (2020-2028) (US $MN)
43 Global Carbon Black Market Outlook, By End User (2020-2028) (US $MN)
44 Global Carbon Black Market Outlook, By Automotive (2020-2028) (US $MN)
45 Global Carbon Black Market Outlook, By Building and Construction (2020-2028) (US $MN)
46 Global Carbon Black Market Outlook, By Industrial (2020-2028) (US $MN)
47 Global Carbon Black Market Outlook, By Printing and Packaging (2020-2028) (US $MN)
48 Global Carbon Black Market Outlook, By Transportation (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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