Carbon Black Industry

The global carbon black market was valued at USD 22.35 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2030. A significant factor driving this growth is the increasing use of carbon black in plastic production, particularly as the demand for plastics in electrical and electronic components continues to rise. Carbon black is produced through two primary methods: thermal decomposition or partial combustion, using oil or natural gas as a feedstock. There are four main production processes: the furnace black process, channel process, acetylene black process, and lampblack process.

In the U.S., the market is expected to expand due to growing environmental concerns and the rapid development of the automotive industry. The trend toward refurbishing vehicles has led to a higher demand for high-performance coatings in various industries, including automotive, marine, aerospace, and industrial. Carbon black enhances the strength and durability of tires by improving abrasion resistance and tensile strength. Additionally, the expanding construction and manufacturing sectors, which rely on industrial rubber and equipment, are expected to drive demand for carbon black over the forecast period.

The pricing of carbon black is influenced by several factors, with raw materials, auxiliary materials, and utilities playing a major role. The fluctuating price of crude oil has a significant impact on the cost of carbon black. Other macro-level factors affecting pricing include working capital and pre-operational costs, such as installation and setup, capitalized interests, project engineering and management, and commissioning expenses. These costs are key considerations in determining the overall price structure of carbon black in the market.

Gather more insights about the market drivers, restrains and growth of the Carbon Black Market

Type Insights

Market Dominance of Furnace Black:

• The furnace black segment led the market in 2023, holding a significant share of over 40%.
• Furnace black is the most widely used production method for carbon black due to its high production capacity.

Production Process and Materials:

• Industrially, furnace black is produced through the combustion of heavy petroleum products, which include:
• Coal tar
• Fluid Catalytic Cracking (FCC) tar
• Vegetable oil as an additional component.
• This production process yields a high volume of furnace black, making it a preferred method for large-scale industrial applications.

Growing Demand in the U.S. Tire Industry:

• In the U.S., the tire industry is anticipated to experience a surge in demand for furnace black, driven by:
• Rising automotive sales, which increase the need for tires.
• The establishment of new manufacturing units by tire companies near automotive production centers to enhance efficiency and reduce transportation costs.

Influence of Advanced Technologies:

• The rapid adoption of advanced technologies in tire production is another factor expected to fuel market growth.
• These technologies help improve production processes and product quality, further increasing the demand for furnace black as a key component in tire manufacturing.

Order a free sample PDF of the Carbon Black Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/

Follow Us: LinkedIn | Twitter