Carbon Black Market to Grow at a CAGR of 4.8% during the Forecast Period; Continuous Demand for the Product from Automotive Sector to Propel Market Expansion

The global carbon black market size was at USD 27.59 billion in 2024. The market is set to grow from USD 28.86 billion in 2025 to USD 40.10 billion by 2032, showcasing a CAGR of 4.8% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Carbon Black Market Size, Share & Industry Analysis, By Process (Furnace Black, Thermal Black, Acetylene Black, and Others), By Grade (Standard Grade and Specialty Grade), By Application (Tire, Non-Tire Rubber, Inks & Toners, Plastics, and Others), and Regional Forecast, 2025-2032”. 

Carbon black is a product derived from the thermal decomposition of different heavy petroleum raw materials. These may include ethylene cracking, FCC tar, cracking tar, and coal tar. These products are highly advantageous in the absorption of ultraviolet (UV) light, converting it into heat, and improvement of thermal conductivity. They are used in treads, inner liners, carcasses, and sidewalls of tires, thus improving their overall strength and lifespan. These factors collectively contribute to the market growth.

Expansion of Business Operations and Capacity by Key Players to Fuel Market Development

In May 2023, Orion Engineered Carbons extended its manufacturing capacity for gas black across Germany. With this move, this business maintained its dominance in the specialty carbon black market.

Growing Demand for Tires and Specialty Carbon Black to Augment Market Growth

The rubber industry highly demands carbon black, majorly due to the growing developments in automotive tires, mechanical rubber goods, and commercial tire sectors. The growing markets for larger vehicles including buses and trust, also contribute to the carbon black market growth. Larger tires will generate a huge demand for carbon black as it is crucial in tire production and is utilized to enhance rubber durability and performance. Rising demand for automobiles from China, India, Vietnam, and South Africa is fueling the sales of tires, thereby boosting the market growth.

Conversely, the fluctuating prices of raw materials such as crude oil hinder market growth.

Top Players Emphasize Expanding their Capacity to Strengthen Their Market Presence

The global market is characterized by higher competition, where key players are expanding their capacity to maintain their market position. Leading companies implement tactics, including product diversification, sustainable practices, and strategic partnerships, to uphold their competitive advantage and fulfil evolving market demands.

Notable Industry Development:

• October 2024: One of the prominent providers of carbon-based solutions, Birla Carbon announced the inauguration of its inaugural Asia Post Treatment (APT) Plant in India.  This will aid in the rapid growth of high-performance carbon black grades in industries such as inks and coatings.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/carbon-black-market-101718

List of the Companies Profiled in the Report:

• Cabot Corporation (U.S.)
• Birla Carbon Thailand Public Co. Ltd. (Thailand)
• Orion Engineered Carbons SA (Germany)
• Ralson Carbon Company (India)
• Coraplus PTE. LTD. (Singapore)
• Phillips Carbon Black Limited (India)
• Omsk Carbon Group (Germany)
• OCI COMPANY Ltd. (South Korea)
• Himadri Speciality Chemicals Ltd. (India)
• Longxing Chemical Industry Co., Ltd. (China)
• TOKAI CARBON CO., LTD. (Japan)

Further Report Findings-

• Asia Pacific held the highest carbon black market share, attributed to the growing demand of the products for tire and plastic goods production. Additionally, the growing R&D activities and developments in the product also fuel regional growth.
• Market growth in North America is driven by the increasing usage of specialty grades in inks and toner applications. Further, there is also a rise in demand for the products in producing furnace black belts, hoses, and air springs across the region.
• In terms of process, the furnace black segment dominated the market, attributed to increased product usage as a strengthening agent in rubber production and capability of mass production.
• Based on grade, the standard segment is set to lead the market in the coming years, owing to the growing demand from tire and non-tire rubber applications. Additionally, its cost-effectiveness and application as a rubber-reinforcing agent contribute to segmental growth.

Table of Segmentation