The global carbon black market size was valued at USD 27.59 billion in 2024. The market is projected to grow from USD 28.86 billion in 2025 to USD 40.10 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period. The rise is driven by the increasing deployment of the product in tire manufacturing and the growing plastic demand for automotive, consumer goods, and electronics industries.
Carbon black is produced through the thermal decomposition of heavy petroleum feedstocks such as ethylene cracking tar, coal tar, or FCC tar. Its increasing use is driven by its advantageous properties, including the ability to absorb ultraviolet (UV) light and convert it into heat, enhance thermal conductivity, and improve tire tread wear and rolling resistance. Additionally, carbon black is widely used in tire carcasses, inner liners, treads, and sidewalls to strengthen the structure and extend the overall lifespan of tires.
Fortune Business Insights™ provides this information in its research report, titled “Carbon Black Market, 2025-2032”.
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Segmentation Analysis:
What are the key process segments in the Carbon Black Market?
The carbon black market is segmented by process into furnace black, acetylene black, thermal black, and others. Among these, furnace black dominated the market in 2024, accounting for 80.1% of the global share. This process involves the combustion of unfinished petroleum or coal oil in an oil furnace, enabling large-scale production with varied particle sizes and structures. Furnace black is extensively used as a reinforcing agent in rubber manufacturing, making it the most widely adopted process type.
How is the Carbon Black Market segmented by grade?
By grade, the market is divided into specialty grade and standard grade. The standard grade segment captured a significant share in 2024 and is expected to maintain its dominance through the forecast period. This growth is attributed to its wide application in tire and non-tire rubber products. Standard-grade carbon black serves as a cost-effective rubber reinforcing agent and is also utilized in a variety of materials to enhance physical, electrical, and optical properties, driving steady demand in the coming years.
Drivers and Restraints:
What factors are driving the growth of the Carbon Black Market?
The primary driver of market growth is the expansion of the rubber sector, fueled by rising demand from the automotive, consumer goods, electronics, and construction industries. Increased use of rubber in tires and other industrial applications continues to boost carbon black consumption globally.
What is restraining the growth of the Carbon Black Market?
Despite its wide applications, the production of carbon black releases hazardous gases, posing environmental challenges. These emissions are a key restraint that could slightly limit market growth as industries face stricter environmental regulations.
Regional Insights:
Asia Pacific to Emerge as a Key Region Owing to Growing Product Deployment
The Asia Pacific carbon black market share is estimated to surge at a considerable rate throughout the forecast period. The region held a major market value driven by the escalating usage of the product in the manufacturing of plastic goods and tire.
The North America market is poised to expand at a notable CAGR over the analysis period. The expansion is driven by the soaring product deployment in vibration isolation devices.
Key Industry Development:
May 2023: Orion Engineered Carbons expanded its gas black production capacity in Germany, reinforcing its position in the specialty carbon black market.
December 2022: International CSRC Investment Holdings Co., Ltd announced a short-term R&D investment plan (2022–2024) to develop specialty carbon blacks, including antistatic, static dissipative, and conductive types, to enhance its global market share.
Competitive Landscape
Key Market Players
- 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)
These companies dominate global supply and focus on expanding capacity, developing specialty grades, and investing in sustainable production technologies.
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