Carbon Black Market Trends: 4.8% CAGR Growth to Achieve USD 22.13 Billion by 2033

Carbon Black Market Size
Carbon Black Market Size

 

In 2023, the global carbon black market is expected to bring in USD 13, 849.6 million in revenue. The demand for carbon black is projected to rise at a 4.8% CAGR and reach USD 22,133.52 million by 2033.

The rubber sector is the key market contributor to the worldwide carbon black market. This substance functions as a filler in tires, enhancing their physical properties and giving them more strength.

Pharmaceuticals are purified using activated carbon black, which is also utilized in the production of medical equipment. The expanding activated carbon black market is projected as a result of the increased demand for medicines and medical supplies.

The growing rubber industry is projected to increase demand for carbon black on a worldwide scale. It finds use in a variety of sectors, including the construction and automotive industries.

Manufacturers of carbon black experience further expansion due to the expanding paints and coatings sector, which is being driven by industrialization. By taking into account these factors, it is predicted that the worldwide market for carbon black is likely to grow by about 23 million tonnes by 2033.

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Key Takeaways

  • By 2033, the carbon black market in the United Kingdom is likely to expand, with a CAGR of 7.9%.
  • The United States, being a leading market for automobiles, contributes significantly to the demand for carbon black.
  • The carbon black market was significantly expanding, with a size of US$ 13,215.8 million in 2022.
  • In 2021, the carbon black capacity was 7 million metric tonnes in China.
  • In China, primary carbon black feedstock yearly capacity reaches roughly 7.5 million metric tonnes.
  • The market is expected to grow at a US$ 15,941.2 million valuation by 2026, with the rising adoption of carbon black in multiple industries.
  • Based on type, the furnace black segment dominates the market and is expected to control the market by 2033 in terms of application.
  • Based on the grade, the standard grade segment is likely to dominate the market by 2033.
  • Based on application, the tire category is anticipated to dominate the market by 2033.

Effective Approaches by Key Players

The carbon black industry is very competitive, with small-scale businesses controlling the entire market. The market is seeing massive capital expansions as businesses compete for future market share. The actions taken by companies like Continental Carbon and Birla Carbon demonstrate that the sector is expected to grow faster.

Key Players

  • Cabot Corporation
  • Birla Carbon
  • Orion Engineered Carbons
  • Phillips Carbon Black
  • Tokai Carbon
  • Sid Richardson Carbon & Energy Co.
  • China Synthetic Rubber Corporation
  • Longxing Chemical Stock Co. Ltd.
  • OMSK Carbon Group
  • OCI Company Ltd.

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Key segmentation

By Type:

  • Furnace Black
  • Channel Black
  • Thermal Black
  • Acetylene Black
  • Others

By Grade:

  • Standard Grade
  • Specialty Grade

By Application:

  • Tire
  • Non-Tire Rubber
  • Inks Coatings
  • Plastics
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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