The carbon black market has a wide range of applications in various industries like automotive, printing inks, coatings, plastics, and others. Carbon black is primarily used as a reinforcing agent and pigment for the production of tires due to its capacity to enhance the strength and wear resistance of tires. It improves tire lifespan and reduces rolling resistance. The global demand for tires is growing rapidly owing to the increasing automotive production across the world which in turn is fueling the carbon black market.

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 market 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. Orica and Cabot Corporation are the key players dominating the carbon black market with their large scale production and wide distribution network across the globe.

The global demand for tires is increasing rapidly owing to rising vehicle production and sales across the world. According to International Organization of Motor Vehicle Manufacturers, vehicle sales reached approximately 89 million units in 2021 globally. This growing demand for tires from automotive industry is fueling the Carbon Black Market Growth.

Carbon black manufacturers are focusing on development of new grades of carbon black using innovative production technologies. New grades are enabling to enhance physical properties of end products. For example, speciality carbon blacks are being adopted for use in applications like lithium-ion batteries, wires, cables, and other applications requiring enhanced conductivity.

Market Trends

Growing adoption of green tires: With increasing awareness about environment protection, adoption of green tires using sustainable and renewable materials is increasing. Green tires use silica as reinforcing agent instead of carbon black owing to its lower rolling resistance and lower fuel consumption. This trend can negatively impact carbon black consumption in tires.

Rise of electric vehicles: Electric vehicles require fewer components than conventional vehicles and need no fuel intake systems like manifolds and fuel lines. They also don't require drive train components like clutch, gearbox and transmission present in conventional vehicles. This reduction in number of components is expected to reduce the demand for tires and subsequently the consumption of carbon black.

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