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2020

Carbon Black Market

Carbon Black Market Size, Share, Competitive Landscape and Trend Analysis Report by Process, Grade and Application : Global Opportunity Analysis and Industry Forecast, 2019-2026

MC : Advanced Materials

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Author's: Ayushi Choudhary | Eswara Prasad
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Carbon Black Market Outlook - 2026

The global carbon black market was valued at $17.5 billion in 2018, and is projected to reach $23.0 billion by 2026, growing at a CAGR of 3.5% from 2019 to 2026. 

Carbon black is a form of para crystalline carbon, which contains 95% of pure carbon and enhances the physical and mechanical properties of material, making the end product more effective. Carbon black is essentially used in manufacturing tires, plastics, mechanical rubber goods, printing inks, and toners. It can absorb UV light and converts it into heat, hence, finds its major application in also used in insulating wires and cables. Moreover, it is used in the production of a wide range of rubber products and pigments. It serves as a cost-effective rubber reinforcing agent used in tires.

Carbon Black Market

Factors that drive the growth of the carbon black market are surge in demand for carbon black from tire and construction & manufacturing industries, where it is used to provide strength to industrial rubber compounds and other equipment. In addition, it has physical properties such as color stability, solvent resistance, thermal stability, owing to which it is widely used in paint and coating industries. However, fluctuations in raw material prices, increase in use of silica as substitute, and environmental concerns associated with the manufacturing of carbon black are expected to restrain the growth of the market in upcoming years. Conversely, increase in demand for carbon black due to its UV protection and conductive properties in plastics is expected to create new opportunities for the growth of the market. 

The manufacturing process of carbon black releases harmful air pollutants. Few of the countries have established regulations such as the U.S., however, few of the countries have not yet implemented any regulation to prevent or control air pollutants. These government regulations are impacting carbon black market trends. There are several advantages to diminish dark carbon discharges for air quality, human wellbeing, and the atmosphere; however, in many countries, such as China, the regulations against pollutants have not yet implemented. 

The global carbon black market is segmented into basis of process, grade, application, and region. By process, it is classified as furnace black, channel, acetylene black, and lampblack. The furnace black segment was the highest contributor to the market. Surge in use of furnace black process for rubber reinforcement is expected to drive the growth of the market. In addition, this process is used to produce color pigments in cosmetics and increase use of it is expected to further boost the market growth.

Carbon Black Market
By Process
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Furnance Black is projected as the fastest growing segment.

 

Depending on grade, the market is divided into specialty and conductive. The specialty grade segment was the highest contributor to the market. Specialty carbon black is high-end refined carbon black manufactured from furnace black, channel black, acetylene black, and lamp black process. For manufacturing specialty carbon black, hydrocarbon is burned in limited air supply. Increase in use of specialty carbon blacks in pigmenting, UV stabilizing, and conductive agents is expected to drive the growth of the market. 

Carbon Black Market
By Grade
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Specialty Grade segment is projected as the fastest growing segment.

On the basis of application, the market is categorized into tires, coatings, plastics, printing inks, and toners. The tires segment was the highest contributor to the market; however, the plastics segment is estimated grow with the highest CAGR during the forecast period. The most well-known use (70%) of carbon dark is as a pigment and reinforcing phase in vehicle tires. Carbon black enables to conduct heat away from the tread and belt area of the tire and helps in reducing thermal damage and increasing service life of tires. As the demand for vehicles increases, it is expected that the automotive market will rise notably. This factor is predicted to fuel the demand for carbon black particularly in tires and seat belts.

Carbon Black Market
By Application
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Plastic segment would exhibit CAGR of 4.1% during 2019-2026.

By region, the global carbon black market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in the market. Carbon black is gaining importance in Asia-Pacific construction engineering owing to its high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance, and low thermal expansion. According to the Asian Development Bank, Asia is estimated to invest $8–9 trillion in infrastructure development between 2010 and 2020 to maintain its economy. This is anticipated to boost the demand for carbon black in the construction industry in Asia-Pacific region.

Carbon Black Market
By Region
2026
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit CAGR of 4.0% during 2019-2026.

The carbon black market industry is fragmented with different manufacturers such as BASF SE, Dow Inc., Mitsubishi Chemical Holdings, Nouryon, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, Cabot Corporation, and SABIC. 

Among these, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, and Cabot Corporation dominate the global carbon black market share. The market dominance of these companies is characterized by their vast product portfolio of carbon black, and high investment in R&D activities for carbon black, revenue, capital expenditure, employee strength, and geographical presence of companies. Recovered carbon black is one of the attractive and competitive materials among these players. Nearly all of the big tire producers have established strategies and set targets to use sustainable and recycled materials in their  products. Recovered carbon black is enabling tire producers to achieve this target. 

Key Benefits for Stakeholders:

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current carbon black market size, trends and future scenario of the market from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution in the carbon black market growth at the regional as well as  country-level.
  • The key drivers, restraints, and market opportunities and their detailed impact analyses are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the report.
  • The global carbon black market forecast is from 2019-2026. 

Carbon Black Market Report Highlights

Aspects Details
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By Process
  • Furnace Black
  • Channel Black
  • Acetylene Black
  • Lamp Black
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By Grade
  • Specialty Grade
  • Conductive Grade
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By Application
  • Tires
  • Coatings
  • Plastics
  • Printing Inks
  • Toners
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, Rest of LAMEA)
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Key Market Players

SABIC, Asahi Carbon Co., Ltd., Dominion Colour Corporation., Birla Carbon Public Company Limited, Nouryon, Phillips Carbon Black Limited, BASF SE, Dow Inc, Cabot Corporation, Mitsubishi Chemical Holdings

Analyst Review

Research and development in carbon black industry is expected to offer lucrative growth opportunities to the global carbon black market. Several key players in the carbon black industry have focused on research and developments pertaining to carbon black feed stock (CBFS) characterization and carbon black characterization. Phillips Carbon Black Limited (PCBL) has over 50 years of inheritance in carbon dark industry and works best in assembling plants combined with Quality Assurance (QA) Laboratories at four (Durgapur, Palej, Kochi and Mundra) diverse land areas across India. The company is involved in finding new rubber applications, new plastics applications, and new inks applications of carbon black. Thus, increase in R&D activities is expected to offer potential growth opportunities for the market.

Author Name(s) : Ayushi Choudhary | Eswara Prasad
Frequently Asked Questions?

Factors that drive the growth of the carbon black market are surge in demand for carbon black from tire and construction & manufacturing industries, where it is used to provide strength to industrial rubber compounds and other equipment. In addition, it has physical properties such as color stability, solvent resistance, thermal stability, owing to which it is widely used in paint and coating industries.

Recovered carbon black is one of the attractive and competitive materials for the carbon black makret key players. Nearly all of the big tire producers have established strategies and set targets to use sustainable and recycled materials in their products. Recovered carbon black is enabling tire producers to achieve this target.

Various global governmental and nongovernmental organizations encourage the trend toward achieving environmental sustainability through reduction of greenhouse gasses such as carbon dioxide (CO2) emission from vehicles. With growing regulations, the demand to recover carbon black is expected to increase particularly in the automotive application.

Asia-Pacific was the highest revenue contributor in the market. Carbon black is gaining importance in Asia-Pacific construction engineering owing to its high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance, and low thermal expansion.

The carbon black market industry is fragmented with different manufacturers such as BASF SE, Dow Inc., Mitsubishi Chemical Holdings, Nouryon, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, Cabot Corporation, and SABIC.

On the basis of application, the market is categorized into tires, coatings, plastics, printing inks, and toners. The tires segment was the highest contributor to the market; however, the plastics segment is estimated grow with the highest CAGR during the forecast period.

The tires, coatings, plastics, printing inks, and toners manufacturer are the potential customers of carbon black industry.

The two most well-known application (70%) of carbon dark is as a pigment and reinforcing phase in vehicle tires. Carbon black enables to conduct heat away from the tread and belt area of the tire and helps in reducing thermal damage and increasing service life of tires. As the demand for vehicles increases, it is expected that the automotive market will rise notably. This factor is predicted to fuel the demand for carbon black particularly in tires and seat belts.

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Carbon Black Market

Global Opportunity Analysis and Industry Forecast, 2019-2026