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Carbon Black Market Research Report- Forecast to 2030

Carbon Black Market Information By Process Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), Function (Reinforcement, Pigments), End-Use (Tire, Non-tire, Paints & Coatings, Inks, Plastics and others) - Forecast to 2030

ID: MRFR/CnM/3280-CR | February 2021 | Region: Global | 134 pages

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Carbon Black Market- Overview

Market research Future (MRFR) report confirms that the Carbon Black Market size can touch USD 17.23 Billion by 2030.

As carbon black use explodes in the plastics, paint, and tire industry, and as a consequence, applications in aerospace and automotive are expanding, the growth trajectory is expected to continue.

COVID-19 Analysis

The COVID-19 outbreak has heavily impacted the tire industry, one of the key end-use industries in the market. Carbon black usage has also been adversely affected by the pandemic in other industries, such as plastics, inks, paints, and coatings, causing slower growth of the industry. In addition to debts, revenue losses weakened supply chains, and other challenges posed by the novel Coronavirus, the players face several other challenges.

Due to the sudden surge in SARS-CoV-2 cases and the tight lockdown, manufacturers now have to follow strict safety rules and ensure that they communicate effectively with their employees. Even though COVID-19 has raised the challenges facing companies, they are compelled to adopt effective business tactics to remain competitive.

Competitive Landscape

Companies' Top Strategy is R&D Intensive Activities

The high-grade carbon black market is equipped with a robust competitive landscape characterized by the presence of a large number of global and regional firms. Many of these vendors focus on developing rare carbon black materials that are useful in multiple applications through extensive research and development activities. As part of their efforts to stay competitive, these companies form partnerships, negotiate agreements, and acquire companies. Furthermore, they concentrate on strengthening their production capacity and constructing innovative, sustainable technologies for producing high-quality carbon black.

The Carbon Black Specialists at Orion are among the top manufacturers in the world. Carbon black market is manufactured by various companies which include mechanical rubber goods, tires, adhesives, and sealants, inks, and toners, textile fiber, coatings, and paints, polymers, tint and elevate the performance of plastics, several types of carbon blacks that colorize lamp blacks, thermal blacks furnace blacks, high-performance specialty gas blacks, and acetylene blacks.

Market Dynamics:


The Global Carbon Black Market is Driven by Carbon Black in Tire and Rubber Industries

A large proportion of carbon black's use is in tires and rubber products, helping to strengthen and absorb shock. Numerous parts of a tire incorporate the product, including the carcass, inner liners, tread, sidewall, plus rubber products like air springs, gaskets, hoses, wiper blades, diaphragm and bushings. Tires with carbon black improve the longevity of their treads since it resists heat formed from the belt areas and tread areas. So, the phenomenal growth of the rubber and tire industries may be beneficial for carbon black production in the coming years.

Increasing automotive sales have contributed significantly to the growth of the tire industry worldwide. The tire industry is moving toward setting up units close to manufacturing centers for automobiles, as well as moving toward embracing modern production technologies, which could benefit the global industry.


Automotive Manufacturing in Asia-Pacific is on the Rise, Creating Opportunities

India, South Korea, and China are among the fastest-growing nations in the Asia Pacific. A soaring automotive industry also fosters demand for tires and rubber in these countries. Growing investment in the region has caused industrial advancement in the area, and the development of the construction business could also present some lucrative opportunities to key companies in the global industry.

Restraints Price Volatility of Raw Materials will be a Limiting Factor

Since carbon black's price is almost exclusively determined by raw materials, fluctuations in the prices of these products can have a major impact on global demand. A fluctuation in the price of crude oil could impact the pricing of the target product in the upcoming years.

Challenges The Growth of the Market is Being Challenged by Unfavorable Regulations

Regulations are changing, causing carbon black to be replaced with silica in tire manufacturing as a reinforcing agent. Carbon black production releases large amounts of CO2.

Cumulative Growth Analysis

Expanding Global Market Share at a Steady Pace

This report, from MRFR Inc., estimates that the carbon black market is forecast to grow by 4.59% between 2017 and 2023 (analysis period), with increased usage in plastics production considered to be among the key growth factors.

Technology Analysis

Moreover, they strive to improve their production capabilities and embrace sustainable technological innovations while producing carbon black effectively. The tire industry is working to set up new plants near automotive manufacturing centers. They are also embracing modern production technologies, which would be beneficial to the industry shortly.

Segment Overview

Leading the pack is Furnace Carbon Black

A variety of black pigments have been evaluated, including furnace black, acetylene black, and thermal black. Its high production capacity makes furnace black one of the market's top segments.

Function-Based Segments Dominate the Market

Pigments and reinforcements fall under the function-based segment. Globally, the pigment industry dominates, given the increasing use of pigments in different types of paints, toners, resin colorings, printing inks, etc.

Tire Industry Ranked the Highest by End-User

In this report, the carbon black market is explored from both an end-user and manufacturer perspective, including non-tire, paints, coatings, tires, plastics, inks, and many more. Its use both as a filler and as a strengthening agent makes tire manufacturing the most common application of carbon black. The carbon back can also be used on both the inside of the liner and the treads.

As per the process type, the carbon black market is segmented into acetylene black, channel black, furnace black, thermal black, and others.

Reinforcement and pigments are the two segments that the carbon black market categorizes according to function.

The end-users are segmented into tire, inks, plastics, paints & coatings, non-tire, and others.

Regional Analysis

APAC Leads the Way as the Top Market

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 labor costs and the government's support. There is also a rapid expansion of the automobile industry in this region, which creates additional value for the market.

Black Market Activities in Europe are Expected to Grow Significantly

Carbon back used in inks & paints has displayed phenomenal growth on the European market, because of its increasing demand. Researchers and developers of advanced carbon black products in the region are heavily involved in acquisition and merger strategies to maintain a dominant market share.

The North American Market to be a Significant Player

Due to the huge number of tires that need to be replaced, MRFR believes that North America, specifically the carbon black market in the United States, will perform exceptionally well. As a result of the automotive and construction industries thriving in the region, there is a huge demand for coatings, paints, and non-tire rubber, which serves the carbon black market well.

Recent Developments

November 2021: Cabot Corp., a specialty chemicals and performance materials company, announced that it has signed a definitive deal to buy Tokai Carbon (Tianjin) Co. Ltd. and its carbon black plant in Tianjin, China, from Tokai Carbon Group. The asset, which is located near Cabot's existing carbon black and speciality chemicals plant in the city, will be purchased for USD 9 million. Conductive carbon black additives are used in lithium-ion batteries, particularly those found in electric vehicles, to extend their cycle life and range (EVs). Tokai Carbon Group's operation can produce 50,000 mt of carbon black per year. Cabot plans to modernise the factory after taking over ownership in order to produce battery grades of the commodity.

November 2021:
Orion Engineered Carbons (NYSE: OEC), a leading global provider of speciality and high-performance carbon black, stated that all specialty carbon black customers will see their prices increase. The increase may vary depending on the product, production process, and location, and will be disclosed individually.

November 2020
– Continental Carbon Company, one of the leading global developers of furnace-grade carbon blacks for rubber and tire industry 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.

December 2020 – Safic-Alcan has entered into a distribution agreement contract with Orion Engineered Carbons (South Africa), which will be effective from January 1st, 2021. This agreement covers rubber carbon blacks and specialty carbon blacks, for applications in coating and ink systems, polymers mechanical rubber goods, and various special use-cases. This move is expected to catapult the companies’ positions in the worldwide specialty carbon black industry.

Cabot Corp. is launching a major extensive program that will expand or upgrade its production facilities in order to meaningfully increase the company's global carbon black capacity by an additional 300,000 metric tons. A bulk of the increased capacity is directed at the tire, industrial rubber, and specialty products segments.

Himadri Speciality Chemical Ltd which is regarded as a major vertically integrated specialty carbon company in India with a market capitalization exceeding $ 1 Bn, will be devoting Rs 1000 crore to increase its carbon black business. The company will be establishing a new carbon black line in its existing integrated plant in West Bengal for making specialty carbon black.

Report Overview

The report constitutes the Carbon Black Market analysis for an informed investor to decide to invest in the market. The report provides the impact of covid - 19 that hindered the carbon black market growth rate. This report has a complete overview of the competitive landscape, carbon black market value, also carbon black market trends to understand the current situation.

Segmentation Table

By Process Type

  • Furnace Black

  • Channel Black

  • Thermal Black

  • Acetylene Black

  • Others

By Function

  • Reinforcement

  • Pigments

By End-User

  • Tire

  • Non-Tire

  • Paints & Coatings

  • Inks

  • Plastics

  • Others

Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023: USD 17.23 Billion
  • 2030: Significant Value
  •   CAGR   (2022-2030) : Substantial Value
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Process Type, Function and End-User
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Kremenchug Carbon Black Plant, Hebei Daguangming Juwuba Carbon Black Co. Ltd., 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.
      Key Market Opportunities   Surge in Automotive Production in Asia Pacific to Offer Opportunities
      Key Market Drivers   Carbon black in tire and rubber industries drives the global carbon black market

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    Frequently Asked Questions (FAQ) :

    The carbon black market is predicted to grow at a 4.59% CAGR between 2017-2023.

    The global carbon black market is predicted to touch USD 17.23 billion by 2023.

    In the forecast period, carbon black market activity will be dominated by Asia Pacific nations.

    Carbon black is being increasingly used in aerospace and automotive applications, which is driving the market growth.

    The carbon black market industry is dominated by ChemChina, JINNENG, Orion Engineered Carbons, Sid Richardson Carbon and Energy Co. Ltd., Cabot Corporation, Tokai Carbon Co., Ltd., OCI Company Ltd., Mitsubishi Chemical Corporation, Shandong Huadong Rubber Materials Co., Ltd., Longxing Chemical, and Phillips Carbon Black Ltd.

    Global Carbon black Market: Competitive Landscape

    The prominent players in the global carbon black market are Mitsubishi Chemical Corporation, Cabot Corporation, OCI COMPANY Ltd., Orion Engineered Carbons, Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, JINNENG, Himadri Speciality Chemical Ltd., ChemChina, Sid Richardson Carbon and Energy Co. Ltd., Kremenchug Carbon Black Plant, Shandong Huadong Rubber Materials Co., Ltd., NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., Suzhou Baohua Carbon Black Co., Ltd., and Jiangxi Black Cat Carbon Black Inc., Ltd., among others.

    Among the aforementioned companies the top nine players namely Mitsubishi Chemical Corporation, Cabot Corporation, OCI COMPANY Ltd., Orion Engineered Carbons, Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, JINNENG, Himadri Speciality Chemical Ltd., are collectively dominating major share of the market. The global carbon black market is fragmented and is lacking the substantial presence of the established Tier-1 companies. Therefore, in order to go with market momentum, industry players are adopting collective approaches to exploit the modulating growth of this market. Most of the companies have adopted acquisition, product launch, capacity expansion, and patent filing as their major business tactics.

    Cabot Corporation is one of the leading players in this market. It is a global chemical company engaged in manufacturing of specialty chemicals and performance materials. The company operates into the market through five major business segments: reinforcement materials, performance chemicals, purification solutions, and specialty fluids. Under the reinforcement materials segment, the company provides rubber blacks and elastomer composites product lines. In February 2018, Cabot Corporation announced an expansion of their range of premium carbon black products called PROPEL X carbon black series. This new series is mainly dedicated to the racing and ultra-high-performance tires. Cabot showcased these new products at Tire Technology Expo 2018, held from February 20 to 22 in 2018, at Hannover, Germany. The product offers a range of reinforcement solutions to optimize performance for specific formulations and tread geometries.

    OCI COMPANY Ltd. is engaged in the manufacturing and distribution of various chemical products. The company has started commercial production of carbon black at their new plant located in Zaozhuang, Shandong province in Eastern China, in October 2016. This plant has a capacity to produce 80,000 tons of carbon black per annum in China. This move comes into effect to accelerate foray into the world’s largest tire market, i.e., China. OCI started to jointly build the factory with an annual output capacity of 80,000 tons with China’s Shandong Energy Zaozhuang Mining Group in 2014.

    Mitsubishi Chemical Corporation, a subsidiary of Mitsubishi Chemical Holdings Corporation, engages in the manufacturing, distribution, and marketing of various chemical products in Japan and across the globe. The company has long perused strategy to realize KAITEKI by providing solutions to environment and social issues and contributing to the sustainable development of people, society and the Earth. The company has strong presence in almost all the major regions in this market. Additionally, they exhibit strong and integrated R&D that formulates & develops the products to meet complex needs of various end users.

    Jinneng Science & Technology Co., Ltd., also known as JINNENG, is energy focused high-tech industrial enterprise, which engages in the production and distribution of fine and coal chemical products. On 2nd March 2018, JINNENG announced that they had entered into an investment cooperation agreement with the administration committee of Qingdao West Coast New Area in Shandong province. According to the agreement, JINNENG had plans to invest nearly USD 3.15 billion in constructing a new material and hydrogen energy comprehensive utilization program under their new “Carbon Black Program”. The first phase includes investments of nearly USD 1.4 billion, which is likely to be completed by June 2020. The second phase is scheduled to be started thereafter.

    Phillips Carbon Black Ltd. owns one of the world's renowned and reputed brands and grades of the carbon black through product customization. Moreover, some of the world's leading tire manufacturers namely Bridgestone, Goodyear, Michelin, Continental, Loadstar, Yokohama, and TVS are their clients. The company has adopted a strategic path to locate their manufacturing units strategically near the customer location to tap the expected growth in the demand for the carbon black in India. Moreover, to establish an efficient supply chain distribution network to ensure timely delivery, service to their customers and thus widen the presence in the international market.