The global carbon black market size is expected to reach USD 31.04 billion by 2030, registering a CAGR of 4.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing tire production on accounted of growing transportation industry is driving the product demand. Carbon black is a highly regulated industry as the manufacturing process is considered harmful owing to the toxic emissions, which have adverse effects on the environment and health. In February 2003, it was added to the California Office of Environmental Health Hazard Assessment (OEHHA) list of substances known to the State that cause cancer.
Major companies in the market are focusing on R&D activities to develop new manufacturing techniques to reduce harmful emissions. Stringent regulations to curb emissions are expected to play a major role in driving the market growth. Emerging countries in Asia Pacific, such as China, Thailand, India, and Indonesia, are projected to generate the maximum product demand in the coming years. Manufacturers in North America and Europe regions are forced to shift their operations to Asian countries owing to low cost in emerging countries. However, recovery in the automotive industry in countries, such as Germany and France, is are anticipated to boost market growth in Europe over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global carbon black market
Carbon Black Market Report Highlights
- Tires emerged as a dominant application segment accounting for 68.8% of the overall revenue share in 2023 due to rise in production of tires as a result of high demand from the automotive industry
- Plastics is anticipated to be the fastest-growing application from 2024 to 2030 owing to its rising application scope in the production of high-performance products
- Stable automotive production and a gradually increasing plastics and rubber manufacturing landscape in Brazil is projected to drive the market in Latin America
Browse through Grand View Research's Petrochemicals Industry Research Reports.
- Polymer Modified Bitumen Market: The global polymer modified bitumen market size was valued at USD 12.86 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2030.
- Fracking Chemicals & Fluid Market: The global fracking chemicals & fluids market size was valued at USD 35.8 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2030.
Growing environmental concerns coupled with the developing automotive industry is expected to drive the growth of the U.S. market. The refurbishing trend has resulted in increased demand for high-performance coatings in automotive as well as other industries, such as marine, aerospace, and industrial. The product helps improve the strength and longevity of tires by providing better abrasion resistance and tensile strength. Also, growing construction and manufacturing sectors utilizing industrial rubber and equipment are anticipated to positively impact the demand over the forecast period.
Carbon black market prices are mainly based on raw materials, auxiliary materials, and utilities. The crude oil price fluctuation has a major impact on the pricing of carbon black. Some other macro-level factors influencing the price include working capital and pre-operational costs. The installation and setup, capitalized interests, project engineering and management, and commissioning costs are included under the pre-occupational costs.
Carbon Black Market Segmentation
Grand View Research has segmented the carbon black market on the basis of on type, application, grade, and region:
Carbon Black Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Furnace Black
- Channel Black
- Thermal Black
- Acetylene Black
- Others
Carbon Black Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Tire
- Non- tire Rubber
- Plastics
- Inks & Coatings
- Others
Carbon Black Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Standard Grade
- Specialty Grade
Carbon Black Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
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