Carbon black is a kind of carbon produced by the thermal decomposition or incomplete combustion of hydrocarbons such as oil or gas. It is a fine black powder that consists of small spherical particles with a high surface area. Carbon black is widely used as a reinforcing filler in rubber products, such as tires, as well as in various other applications, including plastics, printing inks, and coatings.
The market for black carbons in 2021 was worth
USD 13.45 billion; by 2030, it will reach USD 21.85 billion at a 5.5% CAGR during the forecast period.
Many industrial rubber extruded and molded items use carbon black, including air springs, belts, hoses, gaskets, and various conveyor wheels and grommets. The expansion of the industrial and construction industries is driving the worldwide black carbons market’s revenue growth.
Market Dynamics
Drivers
- Increasing demand from the automotive industry: Carbon black is widely used as a reinforcing filler in tires, the largest end-use market for black carbons. With the growing demand for automobiles, especially in developing countries, the demand for black carbons is also increasing.
- Growing demand from the construction industry: Carbon black is used to produce construction materials such as roofing, flooring, and insulation. As the construction industry continues to grow, the demand for carbon black is also expected to increase.
- Rising demand from the packaging industry: Carbon black is use as a pigment in printing inks and packaging materials such as plastic bags, films, and containers. As the demand for packaging materials continues to grow, the demand for black carbons is also expect to increase
- Increasing demand for plastics: Carbon black is widely use as a reinforcing agent in plastics, which are use in many applications. With the growing demand for plastics, especially in the automotive and packaging industries, the demand for black carbons is also expect to increase.
- Technological advancements: The development of new and advanced production technologies has led to the growth of the carbon black market. New production methods, such as gas-phase and black furnace processes, have enabled manufacturers to produce high-quality carbon black at lower costs.
Restraints
Numerous dangerous gases, including carbon monoxide, carbon dioxide, and sulfur dioxide, are emit during the manufacture of carbon black, reducing demand for the finish product. Inhaling these gases can cause various harmful health problems, including nausea, headaches, dizziness, and tightness in the chest. Governments in various nations have thus set several strict laws and restrictions.
Market Segmentation
By Type
With a market share of 30%, the furnace ruled the entire market. Furnace black carbon is in great demand because it is use in the rubber sector to strengthen and accelerate the blackening process.
By Grade
The specialty grade sector contributed for the largest market with a revenue share of nearly 41%. Specialty-grade carbon black is a crucial component of many industrial processes, including those that create polymers, print, and coat products. This category is expanding as a result of increasing demand from end-use industries.
By Application
The tire rubber sector ruled the industry with the biggest market revenue share in 2022. Tire rubber uses carbon black as a color and strengthening ingredient. The primary driver of market development is the ability of black carbons to draw heat away from the tread and belt of tires, hence reducing heat damage and lengthening tire life.
Regional Analysis
Asia Pacific was the largest market contributor in 2022, with a revenue share of nearly 33.8%. Increased plastic usage in important end-use industries, including building. The automobile industry, conductive polymers, and packing, can be link to growth in this area. The development of the carbon black market will be primarily drive by the increase in polymer output in China, India. And Southeast Asian nations like Korea, Thailand, Malaysia, and Vietnam.
The constant development of the automobile, polymer, and industrial sectors in North America will fuel the underground carbon market expansion.
Because of the substantial demand in the textile industries. Europe will experience significant development in the black carbons market during the forecast period.
Key Players
- Omsk Carbon Group
- Birla Carbon
- Continental Carbon Company
- Cabot Corporation
- Tokai Carbon Co, Ltd.
- Atlas Organics Private Limited
- International China Oak Investment Holdings Co., Ltd.
- Himadri Speciality Chemical Limited.
- Philips Carbon Black Limited
- Orion Engineered Carbons GmbH
- Ralson
The market for black carbons in 2021 was worth USD 13.45 billion. And by 2030 it will reach USD 21.85 billion at a 5.5% CAGR during the forecast period. The carbon black market is stimulate by the large usage of black carbons in the tire, manufacturing, building, and printing sectors.
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