Carbon Black Market: By Type (Furnace Black, Channel Black, Acetylene, Thermal Black, and Others), By Grade (Specialty, Conductive), By Application (Tires, Coatings, Plastics, Printing Inks, and Others) and Geography

Carbon Black Market size was valued at USD 20,611.6 million in 2023 and is expected to grow at a 4.2% CAGR from 2024 to 2030. Carbon black is a form of paracrystalline carbon produced by the incomplete combustion of heavy petroleum products or natural gas. It serves as a crucial reinforcing filler in rubber compounds and a pigment in various applications. The rise in demand for carbon black in various applications such as rubber reinforcement, paints & coatings, plastics, battery electrodes, and inks & toners is driving the market. Moreover, growing sales and production of vehicles across the globe are contributing to market growth.

The carbon black market is being driven by urbanization, industrial expansion, and an increase in the number of building and manufacturing businesses throughout the world. Carbon black is also utilized to improve performance in a variety of end-use sectors, including paints and coatings, inks and pigments, and the plastics industry. Additionally, the increasing use of carbon black in plastics, coatings, and conductive applications contributes to market expansion. Technological advancements in production processes, such as improved furnace black methods and the development of specialty grades, are enhancing product quality and opening new application areas. The growing focus on sustainable production methods and recovered carbon black from end-of-life tires presents both challenges and opportunities for market players. However, volatile raw material prices and stringent environmental regulations pose significant hurdles to market growth. The Asia Pacific region dominated the global Carbon Black Market in 2023 and is expected to maintain its leadership position throughout the forecast period.

Carbon Black Market Key Developments:

In November 2018, Orion Engineered Carbons S.A. acquired Société du Noir d'Acétylène de l'Aubette, SAS (SN2A), an acetylene carbon black manufacturer. This acquisition:

• Involved purchasing SN2A from LyondellBasell Industries Holdings B.V. and its French affiliate
• Expanded Orion's portfolio to include a company founded in 1987
• Added a production facility located in Berre l'Etang, near Marseille, France

In March 2022, Cabot Corporation acquired Tokai Carbon (Tianjin) Co., Ltd Carbon Black Plant in China. This acquisition:

• Increases Cabot's manufacturing capacity in China
• Supports the expansion of Cabot's Battery Materials product line

Allows Cabot to continue serving existing carbon black clients while expanding its operations