Carbon Black Market

Carbon Black Market is estimated to Witness High Growth Owing to Rising Demand from Tire Manufacturing Industry


Carbon black is manufactured by the incomplete combustion or thermal decomposition of hydrocarbons like oil and natural gas. It is primarily used as a reinforcing filler in tires as it improves wear resistance and provides reinforcement. Carbon black also finds applications in coatings, printing inks, plastics, and other rubber applications due to its ability to enhance strength, abrasion resistance, and durability of these materials. The global demand for carbon black is driven by the expanding automotive sector worldwide.

The Global Carbon Black Market is estimated to be valued at US$ 1331.83 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the carbon black are Orica, Enaex, Austin Powder Company, Incitec Pivot, CSBP, Yara International, San Corporation, Fertiberia, Neochim, URALCHEM Holding, Dyno Nobel, Vijay Gas Industry, Solar Industries, Maxam, AEL Mining Services, EPC Groupe, Gulf Oil Corporation, IDEAL Industrial Explosives, Sichuan Meifeng Chemical Industry, Jiaocheng Jinxin Chemical.

The expansion of automotive industry globally along with increasing vehicle demand presents significant opportunities for Carbon Black Market Demand. Carbon black manufacturers are investing in expanding production capacities to cater to the growing demand.

Major carbon black producing companies are focusing on expanding their geographic footprint by setting up production facilities in high growth regions like Asia Pacific and Latin America to gain market share in these fast growing markets.

Market drivers

The primary driver for the carbon black market is the rising demand for tires from the automotive industry. As per estimates, 4 out of 5 lbs of carbon black produced globally is consumed by the tire industry. The growing vehicle parc driven by rising middle-class population and increasing mileage driven are supporting the demand for tires and hence carbon black. Other than this, recovering construction and infrastructure industries are also augmenting the consumption of carbon black in applications like coatings and plastics.

PEST Analysis

Political: Increasing environmental regulations and initiatives to reduce carbon footprint will impact the carbon black market. Legislations on emission standards will create demand.

Economic: Growth of tire manufacturing and automotive industries will augment the demand, as carbon black is an important input for tires manufacturing. Rising demand from packaging and plastics industry will propel market growth.

Social: Increasing consumer preference for green products may limit usage of carbon black in near future due to its fossil fuel origins. Sustainability initiatives by leading manufacturers can create opportunities.

Technological: Development of new production techniques using renewable feedstock can reduce carbon footprint. Investments in R&D for bio-based and green carbon blacks will drive innovation.

Geographical regions with high market concentration

Asia Pacific accounts for over 50% of global carbon black market share in terms of value owing to large production facilities and rapidly growing end-use industries in China and India. China is the largest manufacturer as well as consumer of carbon black globally. Other developing Asian countries are also witnessing increasing demand from tire and rubber goods industries.

Fastest growing region

The carbon black market in Middle East and Africa is expected to grow at the fastest pace during the forecast period. This can be attributed to ongoing investments in petroleum refineries, tire manufacturing plants and other end-use industries across GCC countries and Africa. Increasing automobile ownership and construction activities are fueling the demand in the region.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it