Carbon Black Market was valued at USD 14.45 billion in 2023 and is expected to grow from USD 15.1 billion in 2024 to USD 21.47 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.50% over the forecast period (2024–2032).
The growth trajectory is anticipated to continue as carbon black usage soars in the plastics, paint, and tyre industries, which has led to an increase in applications in Aerospace Plastics and Automotive Plastics. With an investment of almost $200 million, Taiwan-based Continental Carbon has established its first greenfield facility in India in Dahej in Gujarat to produce carbon black, the company's president T M Chen announced on Wednesday. The automotive industry uses 80% of the carbon black produced, along with the plastics sector, ink coatings, high-end 3-D printing, and electrical device applications.
The global tyre business has expanded tremendously as a result of rising car sales. The tyre business is moving toward adopting new production technology and establishing facilities adjacent to vehicle manufacturing hubs, which might be advantageous for the global sector.
Regional analysis:
In the rubber reinforcing process, electrical and electronics, as well as other industries, the need for carbon black is anticipated to skyrocket, with the Asia Pacific area leading the way. In addition to China and India's expanding economies, conductive carbon black demand has increased as a result of those nations' emerging economies. In addition, the APAC market gains from more foreign investment and better regulatory frameworks. Multinational firms have also moved production to Vietnam, China, and India in order to benefit from cheaper labour costs and government backing. Additionally, the vehicle sector is expanding quickly in this area, adding to the market's worth.
Due to rising demand, carbon back, which is used in inks and paints, has experienced amazing growth on the European market. To keep a commanding market position, regional researchers and producers of innovative carbon black goods are extensively engaged in acquisition and merger tactics.
Market segmentation:
Furnace Carbon Black is in first place among the black pigments that have been tested, which also include acetylene black, Thermal Interface Materials, and furnace black. Furnace Black is one of the top market sectors due to its great manufacturing capacity.
Pigments and reinforcements are part of the function-based category, which dominates the market. Given the growing usage of pigments in various types of paints, toners, resin colorings, printing inks, etc., the pigment business dominates on a global scale.
The Tire Industry Has the Highest End-User Rating: In addition to non-tire, paints, coatings, tyres, plastics, inks, and many more products, the carbon black industry may be examined from both the end-user and producer perspectives. The most widespread usage of carbon black is in the manufacture of tyres due to its dual function as a filler and a strengthening agent. Additionally, the interior of the liner and the treads can also be lined with carbon fibre.
The carbon black market is classified into acetylene black, channel black, furnace black, thermal black, and others depending on the process type.
Key vendors:
The Kremenchug Carbon Black Plant, the Hebei Daguangming Juwuba Carbon Black Co. Ltd., the Shijiazhuang Xinxing Chemical Carbon Co. Ltd., the Cabot Corporation, the Orion Engineered Carbons, the Tokai Carbon Co. Ltd., the Mitsubishi Chemical Corporation, the JINNENG, the Himadri Speciality Chemical Ltd., the ChemChina, the Jiangxi Black Cat Carbon Black Inc. Ltd.,
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