The carbon black market size is projected to reach US$ 21.22 billion by 2031 from US$ 14.11 billion in 2023. The market is expected to register a CAGR of 5.2% in 2023–2031. The growing emphasis on waste tire management is likely to remain a key carbon black market trends.
The growing demand from the automotive industry is mainly driving the market growth. Carbon black is highly used to manufacture reinforcing and pigment phases in automobile tires owing to its ability to increase the life of the tire by reducing thermal damage. Different materials used in manufacturing tires are considered a major factor in the safety and comfort aspects of automotive design. Carbon black is used as an additive in the rubber, which is used to manufacture tires that improve tensile strength and abrasion resistance. The carbon black market size is boosting rubber and automotive tire manufacturing, with the rising number of automobiles across the globe.
The particle size of carbon black affects the rubber and its color properties. Small diameters have higher surface area and higher tinting strength. Carbon black is highly used to strengthen rubber in tires. It can also act as a UV stabilizer, pigment, and conductive or insulating agent in a variety of plastic, rubber, ink, and coating applications. Moreover, carbon black is essential for various products which are used in many industries. Other applications of carbon black include hoses, conveyor belts, plastics, printing inks, and automotive coatings.
Specialty carbon black is the purest form of carbon black. It contains a low level of sulfur, metals, ash, and other impurities. It is made through the partial combustion of hydrocarbons, including oil and gas in order to meet rigorous specifications and deliver necessary functionality as per the end-use requirements. Specialty carbon black finds application as a reinforcing agent in belts, gaskets, vibration isolation devices, hoses, diaphragms, bushings, chassis bumpers, air springs, conveyor wheels, and grommets. In addition, it is also used in refuse sacks, industrial bags, photographic containers, agriculture mulch film, stretch wrap, thermoplastic molding applications for electrical/electronics, automotive, and blow-molded containers.
There is a rising need for green alternatives with a growing focus on sustainability. The green economy helps to promote economic development and improve people's lives while promoting environmental well-being. Green or recovered carbon black is emerging as an alternative to virgin carbon black manufactured from the combustion of crude oil. There are various benefits of carbon black recovered from recycled tires as it contributes to a significant decrease in CO2 emissions and also emphasizes reusing products to minimize waste generation. Thus, the rising need for green alternatives, such as green or recovered carbon black, is expected to offer more opportunities for market growth.
Key segments that contributed to the derivation of the carbon black market analysis are type, grade, and application.
The geographic scope of the carbon black market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific has dominated the carbon black market. In the Asia Pacific region, factors such as the growing automotive, coatings, and tire industry are mainly driving the market growth. The high disposable income of people in the region is resulting in increasing the demand for passenger and commercial vehicles, bolstering the need for automotive tires. In addition, the rising demand for EV vehicles in Asia Pacific and the increasing investments by leading automotive OEMs are propelling the market growth. Further, the growth of the tire industry in the region is attributed to the growth of the automotive industry in the region.
The regional trends and factors influencing the Carbon Black Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Carbon Black Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 14.11 Billion |
| Market Size by 2031 | US$ 21.22 Billion |
| Global CAGR (2023 - 2031) | 5.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Carbon Black Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Carbon Black Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The carbon black market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
The “Carbon Black Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: