Carbon Black Market Worldwide Industry Analysis, Future Demand, and Forecast till 2030

Carbon Black Market to Benefit from Tire Manufacturing Industry Growth

Carbon Black Market size is projected to be worth USD 17,231.4 Million by 2027, registering a CAGR of 4.5% during the forecast period (2022–2030). 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.

On the flip side, the market may find silica as an obstructing force as in the tire manufacturing industry, silica is growing big. Such deterrents can hold back market growth.

Competitive Landscape:

Kremenchuk 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.. are some of the major companies that can transform the global carbon black market using their strategic skills to build momentum.

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Regional Analysis:

Asia Pacific has the largest market share as markets in China, India, South Korea, and Japan may inspire a drastic change. In fact, the growing investment in residential and commercial infrastructures can inspire better growth. In Europe, the automotive sector in Germany could influence the market significantly. In North America, the US will take charge of the market and help it proceed.

Industry News:

SCG Chemicals Public Company Limited (SCGC) has inked a joint venture (JV) agreement with Denka Company Limited (Denka), Japan. The JV was established to operate an acetylene black manufacturing business in the province of Rayong. The production capacity will be approximately 11,000 tonnes annually and is expected to commence by early 2025.

Denka’s acetylene black is a unique type of carbon black with high purity and electrical conductivity. It is primarily used as a component in the production of lithium-ion rechargeable batteries for electric vehicles (EVs), in addition to being employed in applications for high-voltage transmission cables to generate electricity from offshore wind power, for which market demand is rising.

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Carbon Black 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, and 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.

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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.

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