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Carbon Black Market

Carbon Black Market

Carbon Black Market Growth to Propel with Rising Consumption of Standard Grade Carbon Black during 2021-2031

Carbon Black Market
FACT6986MR

Market Snapshot

Owing to rapid growth of carbon black as a useful chemical, the global market is projected to grow substantially at a CAGR of around 6% over the decade, and top a valuation of US$ 30 Bn.

The latest study done by Fact.MR, a market research and competitive intelligence provider, estimates the carbon black market to contribute significantly towards global chemical industry GVA. This is mainly attributed to the usage of the material in a wide range of applications such as printing inks, packaging, plastics, and paints and coatings.

Carbon Black Industry Report Scope

Attribute

Details

Market size value in 2020 US$ 22.0 Billion
Market forecast value in 2031 US$ 30.0 Billion
Global Growth Rate CAGR 6.0%
North America Market Size in 2020 US$ 4.4 Billion
Latin America Market Size in 2020 US$ 0.66 Billion
Europe America Market Size in 2020 US$ 3.9 Billion
East Asia America Market Size in 2020 US$ 8.8 Billion
South Asia America Market Size in 2020 US$ 2.0 Billion
Oceania Market Size in 2020 USD 174.72 Billion
Middle East and Africa Market Size in 2020 US$ 1.32 Billion
Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

Value in US$ Mn, Volume in ‘000 Units in Kilo Tons

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East Africa

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • Italy
  • France
  • U.K
  • Nordic
  • Spain
  • Japan
  • China
  • India
  • Malaysia
  • Thailand
  • Australia
  • GCC Countries
  • South Africa
  • Turkey

Key Market Segments Covered

  • By Grade
  • By Production Method
  • By Application
  • By Region

Key Companies Profiled

  • CABOT
  • Mitsubishi Chemical Corporation
  • Orion Engineered Carbons S.A.
  • Phillips Carbon Black Limited
  • Tokai Carbon Co., Ltd.
  • Birla Carbon Public Co. Ltd.
  • Continental Carbon Company
  • Himadri Chemicals & Industries Ltd.
  • JSC
  • Asahi Carbon Co. Ltd.

Pricing

Available upon Request

Carbon black industry research performed by Fact.MR delves on key insights such as current and speculative production capacity, capacity utilization rates of each producer, current and speculative pricing, price optimization strategy across value chain, techno-economic analysis of carbon black production, and much more.

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Consumption Analysis of Carbon Black from 2016 to 2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR, the past half-decade has provided a strong base for the growth of carbon black chemical whilst growing with a CAGR of around 5.3%. Rise in demand for the product can be attributed to the mounting consumption in high growth regions such as North America and Asia Pacific.

Next ten years are vital for industry growth as market players are trying to leverage the rising need of high quality products such as paints, plastics, printing inks, and many more. Additionally, demand is also projected to be driven by the automotive sector owing to requirement of high-performance premium tires. Recent trends show there has been a surge in consumer demand for tire pressure monitoring systems, which is driving the tire replacement market, thus providing lucrative opportunity for carbon black companies.

Owing to these factors, the carbon black market is projected to expand its revenue 1.5X by 2031, while standing at around US$ 30 Bn during the same timeframe.

COVID-19 too had an impact on the revenue generation capacity of carbon black, which led to the downfall of market’s Y-o-Y. However, the market is projected to stabilize by 2021-end while expanding at a CAGR of around 6% over next ten years.

How Will Burgeoning Electric Vehicle Sales Spearhead the Demand for Carbon Black?

Automotive industry is projected to provide lucrative opportunity for carbon black industry owing to rising trend of tire replacement along with growing need of high quality and premium tires. Since tire industry captures around 3/4 of the total carbon black market, introduction of electric vehicle will spearhead the demand for tires made from carbon black over the assessment period.

Moreover, carbon black is a highly conductive additive and an essential material in lithium-ion batteries. This conductive carbon material covers the surface of the active material thus helping in flow of current.

Owing to above discussed advantages of material as conductive material along with rising need of electric vehicle to curb carbon emission, the sector is projected to provide high incremental opportunity of around US$ 90 Mn to carbon black market in next ten years.

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Which Properties of Carbon Black Makes it Fit to be Used in Different Applications?

High tinting strength, thermal stability, electrical conductivity, and stable resistance are some of the properties shown by carbon black as a material that makes them fit for varied applications.

Widely used as printing inks, paints and newspaper inks, carbon black serves the purpose best owing to its high tinting strength. Additionally, thermal stability property helps in its usage for absorption of ultraviolet rays best suited to be used in automotive components. Moreover, graphite type crystalline structure ensures excellent conductivity thus being widely used for battery application.

Based on Fact.MR analysis, printing inks application is projected to provide high absolute $ growth opportunity worth US$ 50 Mn in next ten years.

Which Obstructions are Poised to Lower Demand for Carbon Black?

Carbon black are materials made from hydrocarbons, hence, crude oil prices have a direct impact on its production cost. Additionally, over the past half-decade, there has been consistent fluctuation in crude oil prices, which is the main reason behind rising cost of carbon black. This has attributed significantly in lowering the popularity of the material, thus compelling tire manufacturers to shift to cheaper alternatives.

Further, carbon black production emits a lot of particulate matter such as carbon dioxide, nitrogen oxides, sulphur compound, and carbon monoxide, hence, governments around the world are posing strict regulations to regulate the industry.

For instance, in 2018, three major carbon black producers paid nearly US$ 2.5 Mn in order to settle air pollution violations. This shows what lies ahead for carbon black manufacturers as environment regulations are projected to get stricter over the next ten years.

Above-discussed factors are projected to be an area of major concern, thus acting as a major hindrance towards market growth.

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Which Region is Set to Provide Lucrative Opportunity for the Sales of Carbon Black?

East Asia is anticipated to drive carbon black consumption over the next decade. Currently, the region holds around 40% of total demand and is projected to increase its market share by around 200 BPS over the forecast period.

Demand for carbon black in East Asia will mainly be driven by the automotive industry. Over the past decade, there has been a surge in demand for commercial and passenger vehicles, which, in turn, has boosted sales of tires, driving carbon black demand.

These factors have contributed towards robust sales of the material in the region and the trend is projected to continue over the forecast period. Thus, East Asia is poised to provide high absolute $ opportunity worth US$ 1.9 Bn over the next ten years.

Carbon black market by region and by production type from Fact.MR

Country-wise Analysis

Why is China Seen as a major Participant in Bolstering Demand for Carbon Black?

More than 60% of East Asia demand is estimated to be driven by China. Also, China accounts for more than 40% of global carbon black production, which can mainly be attributed to the availability of low-cost feedstock along with low wage rates, and hence, lower production rates have been observed.

Additionally, rising consumption of paints & coatings coupled with mounting production of electric vehicles has provided the required push to the market in the country.

Moreover, major investments can be seen in the country in terms of production capacity expansion along with product development. Such surge in investments for carbon black material are projected to drive the market at a CAGR of around 7%, providing an incremental growth opportunity worth US$ 250 Mn over the decade.

How Had the Demand Scenario for Carbon Black in Established and Developed Countries?

India: India is estimated to be the most lucrative market for carbon black chemical in South Asia and Oceania, mainly attributed to surge in investments by prominent players in the country along with constant demand from the country’s robust automotive sector.

Additionally, demand for carbon black in the country has also been driven owing to its use in newspapers. For instance, there are more than 450 Mn newspaper readers in India demanding high quality printing. Thus, India is projected to provide high incremental opportunity worth US$ 80 Mn over the projected forecast period.

Brazil: Brazil’s automotive sector is robust with a global ranking of six. Additionally, the country is all set to see a surge in the penetration electric vehicles, which will bolster demand for the material.

Owing to these trends, the market in Brazil is estimated to expand at a high single-digit CAGR over the decade.

Germany: Major driving force for carbon black consumption in Germany will be the penetration of electric vehicles in the automotive sector. Additionally, a recent announcement by government on infrastructure and housing projects has provided a  positive outlook to the paints & coatings industry, thus propelling the use of this chemical.

Hence, Germany is poised to be the torch bearer for the European carbon black industry.

U.S.: After China, the U.S. is projected to be the second-most lucrative market for carbon black consumption. Consumer demand for high quality and premium material in their vehicles will be a major factor behind mounting consumption.

Additionally, North America is well established due to the concentration of some big players in the region. Thus, high absolute $ opportunity worth US$ 100 Mn is projected to be generated by the country.

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Category-wise Insights

Which Grade Carbon Black is projected to hold Majority of the Shares?

Standard grade carbon black is the most widely used material owing to its cost effectiveness along with widespread popularity in tire components. Additionally, standard grade provides strength, durability, and high performance, which are major factors behind its rising consumption.

For instance, around 90% of total demand in market is for standard grade, and hence, the segment is poised to provide high absolute $ opportunity over the forecast period.

Which Application is projected to propel the Sales of Carbon Black?

Carbon black has been historically driven by sales of tires accounting for around 70% of total demand. Production of new vehicles along with growing disposable income in developed economies is projected to open new avenues for chemicals in the market. 

Further, it has been estimated that around 2/3 of total demand will be driven by tire replacement needs. Moreover, introduction of electric vehicles in the automotive sector will provide the required push needed in the market.

Thus, owing to the above factors, the tire application segment is projected to increase at a CAGR of around 5.8% over the next ten years.

How Has COVID-19 Impacted Revenue Generation from Carbon Blacks?

The COVID 19 pandemic has impacted sales of carbon black owing to its decreased usage in the automotive sector. Y-O-Y growth of revenue contracted 1.9% in 2020 when compared to 2019. This contraction can be attributed to decrease in demand from paints & coatings along with downfall in sales of automotive components.

However, the market is projected to stabilize owing to positive rise in sales of automotive components and specialty carbon black material.

Carbon black market competitive analysis by Fact.MR

Competition landscape

In order to expand their market share, key players have opted for both, organic and in-organic growth strategies such as acquisitions, collaborations, and partnerships. These have been identified as positive strategies that have helped them garner market share over the past half-decade.

Fact.MR has provided detailed information about price points of carbon black from manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion, in the recently published report.

  • Orion Engineered Carbons in July 2021 announced partnership with HiQ-CARB to provide lithium ion batteries, equipped with high performance carbon additives.
  • Cabot Corporation in April 2020 announced completion of acquisition for Shenzen Sanshun New Materials Co. Ltd. This would help company strengthen its market position in China.
  • Focusing on development of renewable carbon black Orion Engineered Carbons in July 2021 partnered with RISE, Sweden. This approach would help company focus on sustainable development of products thus placing it at the centre stage of innovation.

Similar recent developments related to companies offering carbon black business have been tracked by the team at Fact.MR, which are available in the full report.

Key Segments

  • By Grade

    • Standard Grade Carbon Black
    • Specialty Grade Carbon Black
  • By Production Method

    • Furnace Black
    • Thermal Black
    • Others
  • By Application

    • Carbon Black for Printing Inks
    • Carbon Black for Paints & Coatings
    • Carbon Black for Packaging
    • Carbon Black for Batteries
    • Carbon Black for Plastics
    • Carbon Black for Tires
    • Others

Carbon Black Market- Scope of Report

A recent study by Fact.MR on carbon black market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of Carbon Black.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing carbon black, along with their product portfolios, key strategies, and SWOT analysis, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including speculative and current production capacity, capacity utilization rates, captive consumption rates, grade-wise pricing, revenue growth and list of consumers with consumption quantity, trade analysis, product enhancements, and revenue generation from carbon black across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue through of carbon black during the forecast period.

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of volume (KT), and value (US$ Mn).

Market estimates at global and regional levels for carbon black are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a company can look to achieve, along with identifying potential resources, considering the revenue perspective in the global Carbon Black market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include market forces analysis, which is expected to have a momentous influence on the growth of the carbon black market during the forecast period.

Country-specific valuation on revenue for Carbon Black has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for key countries has also been included in the report.

In-depth Analysis on Competition

The report sheds light on leading providers of carbon black, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the Carbon Black business has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as production sites & capacities, product portfolios, channel partners, prominent consumers and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the carbon black market.    

- FAQs -

Currently, the global carbon black market is worth more than US$ 22 Bn.

Carbon black value is expected to rise at a CAGR of around 6% during the period of 2021-2031.

In terms of consumption, the market expanded at a CAGR of around 5.3% during 2016-2020.

Increased use case of carbon black for application in tires is projected to drive demand over the next ten years.

Market players are majorly opting for capacity expansion, collaborations, and innovation to be in sync with new developments.

Top 5 carbon black manufacturers hold around 45% market share.

The U.S., China, Japan, Germany, and India are major countries driving demand for carbon black.

East Asia holds around 40% of the global carbon black revenue share.

China, the U.S. and India are major carbon black producers.

The U.S. market is projected to progress at a CAGR of around 6.3% over the next ten years.

The report presents detailed pricing analysis of each grade of carbon black, i.e., rubber carbon black price analysis, mechanical rubber black price analysis, and specialty carbon black price analysis.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.