Carbon black, also known as acetylene black and lamp black, is a type of para-crystalline carbon that is produced when heavy petroleum compounds like coal tar are only partially burned. Since carbon black may be carcinogenic, high concentrations of it might harm your health. Tires, commercial rubber goods, plastics, electrical discharge chemicals, and high-performance coatings all use carbon black. Carbon black is primarily used in automobile tires.
In 2021, the market for carbon black was worth USD 13.45 billion, and by 2030 it will be worth USD 21.85 billion, growing at a 5.5% CAGR during 2021-2030.
The market will expand due to the product’s rising demand as a strengthening agent, especially in tires. Additionally, the rising use of the product in agricultural applications such as mulch film, sewage sacks, stretch wraps, and industrial bags will boost market expansion.
Market Dynamics
Drivers
Major factors boosting the market growth rate are the increasing demand for carbon black as a tire filler in the rubber sector due to its improved physical properties, increased strength and longevity, and decreased thermal stress. Additionally, there is an increase in demand for carbon black due to its ability to shield polymers from UV deterioration, lower the price of polymers, and improve plastic transmission globally.
In the automotive market, carbon black paint is frequently used to paint automobiles. It also functions as a pigment in various paints and varnishes. The expanding paints and coatings sector is giving black market dealers more chances. The substance is utilized in paints, toners, and printer inks, expanding the scale of the carbon black market.
The industry for plastic polymers is a sizable market for carbon black. This is mostly attributable to the characteristics of carbon black, which can give plastic products color, opacity, electrical conductivity, and protection from ultraviolet deterioration. The carbon black market is growing due to the material’s expanding use in numerous plastics categories, including molding, film, pipe, fiber, and cable.
Restraints
The market expansion is constrained by fluctuations in the price of raw materials, an increase in the usage of substitutes such as silica, and environmental issues associated with the production of carbon black.
The production of carbon black releases harmful gases, such as sulfur dioxide, nitrogen oxides, carbon dioxide, and carbon monoxide, as well as other particles that adversely affect the environment, impeding the expansion of the market for carbon black.
Opportunity
The construction and automotive industries are expanding in several emerging economies, including Brazil, India, South Africa, and China, and this is driving the growth of the carbon black market.
The necessity for developing the carbon-black industries in these countries is being driven by the fast growing geriatric population, rising per capita earnings, and high car ownership rates.
The growing investment in this industry is expected to provide development prospects in the market because of the numerous applications of carbon black products in the plastic, paint, and automotive industries.
Market Segmentation
By Type
The black furnace segment is the leading market with the greatest market share of 30%. Furnace black carbon is in high demand because it is used in the rubber sector to reinforce the rubber and accelerate the blackening process.
By Grade
The specialty grade category currently dominates the market with a revenue share of 41%. Specialty-grade carbon black is a crucial component of many industrial processes, including those that create polymers, print, and coat products. This segment is expanding as a result of increasing demand from end-use industries.
By Application
With the biggest market revenue share in 2022, the tire rubber segment dominated the industry. Tire rubber uses carbon black as a color and strengthening ingredient. The market segment is expanding due to the ability of carbon black to draw heat away from the tread and belt of tires, hence reducing heat damage and lengthening tire life.
Regional Analysis
Asia Pacific controlled the largest revenue share of 33.8% on the black market for carbon in 2022. The largest share of this region is due to the increased plastic usage in important end-use industries, including construction, the automotive industry, conductive polymers, and packaging. The expansion of the carbon black market will be primarily driven by the increase in polymer manufacturing in China, India, and Southeast Asian nations, including Korea, Thailand, Malaysia, and Vietnam.
The ongoing rise of the automobile, polymer, and manufacturing industries in North America will fuel the expansion of the black market for carbon.
Because of the high demand in the textile industries, the Europe region would experience significant expansion in the carbon black market.
Key Players
Tokai Carbon Co, Ltd.
Omsk Carbon Group
Birla Carbon
Himadri Speciality Chemical Limited.
Atlas Organics Private Limited
International China Oak Investment Holdings Co., Ltd.
Philips Carbon Black Limited
Orion Engineered Carbons GmbH
Continental Carbon Company
Cabot Corporation
Ralson
In 2021, the market for carbon black was worth USD 13.45 billion, and by 2030 it will be worth USD 21.85 billion, growing at a 5.5% CAGR during 2021-2030. The market growth is driven by the expanding tire sector, rising applications in the textile and fiber sectors, and the growing market penetration of specialty black.
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