Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The carbon black market was valued at 13,000 kilotons in 2021, and the market is projected to register a CAGR of more than 2% during the forecast period (2022-2027).

With the COVID-19 outbreak in the first half of 2020, the tire and rubber industry has been significantly affected. The market is now projected to grow steadily as automotive production has observed growth in 2021.

Key Highlights

• In the short term, the major factors driving the market studied are growing applications in the fiber and textile industries.
• The tires and industrial rubber products application segment dominated the market, and it is expected to grow during the forecast period (2022-2027).
• Growth in the adoption of electric cars and self-driving cars is likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the world, with the largest consumption from the countries, such as China and India.

Key Market TrendsIncreasing Application of Tires and Industrial Rubber Products

• The tires and industrial rubber products segment is the largest application segment of the market studied, accounting for more than 80% of the market share.
• Carbon black is used in the tires of vehicles as a filler and as a strengthening reinforcing agent.
• According to Kordsa Teknik TekstilA.Ş, the global tire industry volume reached 1.498 billion units in 2020, a dip of 11.5% from 2019. Moreover, the total global tire industry volume is expected to reach 1.813 billion units by 2023.
• Other than tires, carbon black is also required for various molded and extruded industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hoses. It provides flex strength in such products.
• In the rubber industry, carbon black is majorly used as a filler to achieve reinforcing effects, such as altering the modulus or tensile strength. In rubber-based adhesives, sealants, and coatings, it is used to enhance the intermolecular or cohesive force of the product and impart conductivity.
• The outlook for world demand on natural rubber (NR) is estimated to grow by 9.3%, on a year-to-year basis, to 14.1 million tons in the year 2021, according to the Association of Natural Rubber Producing Countries.
• Such scenario is expected to boost the market demand for carbon black globally during the forecast period.

China to Dominate the Market in the Asia-Pacific Region

• China accounts for a higher share in the world's carbon black capacity and production, any demand-supply imbalance in China can affect domestic players' market share and performance.
• On the other hand, China generates carbon black primarily through the Carbon Black Oil (CBO)/Coal Tar pathway, which has higher pricing than CBFS. Furthermore, carbon black costs have risen in China due to plant closures resulting from the Chinese government's increasingly aggressive environmental protection program.
• China contributes nearly 33% of the global carbon black production capacity, with a volume of almost 5.7 million metric tons in 2019. China is also the largest global exporter of carbon black. The primary carbon black feedstock is coal tar, and other carbon black feedstocks include slurry oil and ethylene tar
• The top local manufacturers of carbon black are Jiangxi Black Cat, Longxing Chemicals, Shanxi Yongdong Chemicals, Shanxi Anlun Chemicals, Liaobin Carbon Black, Shanxi Sanqiang New Energy Technology Co. Ltd, Suzhou Baohua Carbon Black, Shandong Jinneng Technology, Shandong NST Carbon Black, Yunan Yunwei Feihu Chemicals, Qujin Zongyi Chemicals, and Shandong Best Chemicals. Among these, Jiangxi Black Cat is the largest producer with a capacity of over 1.9 million metric tons.

Competitive Landscape

The global carbon black market is a consolidated market, where the top ten players contribute to more than 61% of the market share. The major companies for the carbon black market include (in no particular order) Cabot Corporation, Birla Carbon, Orion Engineered Carbons SA, Jiangxi Black Cat Carbon Black Co. Ltd, Tokai Carbon Co. Ltd, and China Synthetic Rubber Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies

Asahi Carbon Co. Ltd
Birla Carbon (Aditya Birla Group)
Cabot Corporation
Tokai Carbon Co. Ltd
International CSRC Investment Holdings Co. Ltd
Abu Dhabi National Oil Company
Imerys Graphite & Carbon
Jiangxi Black Cat Carbon Black Co. Ltd
Kemipex
Longxing Chemical Stock Co. Ltd
Mitsubishi Chemical Corporation
NNPC
OCI Company Ltd
Orion Engineered Carbons GmbH
Phillips Carbon Black Limited