The global carbon black market is estimated to grow at a CAGR of 5.2% between 2018 and 2026. The developing worldwide rubber industry and increasing demand for healthy rubber is expected to augment demand for carbon black market over the forecast period. The product finds its uses as majority of it is reinforced material into vulcanized rubber products, which is nearly over sixty percent devoted only for manufacturing of tires for motor vehicles only. The special blacks introduced in the market in the last decade command for significantly higher prices per kilogram as compared to the commodity blacks. The special blacks are still in their developing stage of product cycle and manufacturers have been investing considerably on research and development activities.
Increase in demand for carbon in terms of volume is directly dependent on the end-use industries. The automotive industry takes the lead owing to the fact that largest share of these products are used in manufacturing tires and other rubber parts for vehicles. Any type of volatility in tire production, to lower degree, rubber mechanical products has a corresponding effect carbon black demand. Production of tires is in direct association to automobile production and the global manufacturing of automobile in terms of units has been yearly increasing significantly, hence influencing carbon black production. Rethreading of tires is a different concept but also makes use of tire material thus driving product demand from an after market point of view.
North America Carbon Black Market Share, By Product Type, 2017-2026
Note: Inside circle depicts data for 2017 & outside circle depicts data for 2026
The global carbon black market is segment based on product type, end-use and region. Based on the types of product, the industry is further segmented into thermal black, channel black, furnace black and others. Application segments are further segmented into plastics, tires, non-tire, coatings and others. Furnace black was the largest product segment in 2017.
The non-tire end-use segment is projected to grow at around 4.2% over the forecast period. The tire segment is expected to be the largest in terms of revenue generated by the end of the forecast period. This is due to the fact that carbon black offers higher margins in tire manufacturing, Moreover; the product offers the suppliers greater protection from cyclicality in the complex interconnected rubber for motor vehicle tires.
North America Carbon Black Market, By Application, 2017 - 2026 (USD Million)
Asia Pacific carbon black market was the largest regional market in 2017 in terms of consumption. The Chinese and Indian markets have posed impressive gains owing to significant development and expansion of their automobile and its ancillary industry along their robust economic growth in the past five years. During the past decade India and China experienced their largest capacity expansion of their carbon black industry and this trend is projected to continue for the next six to eight years in concern to the healthy economic growth which has compelled product demand from end-use sectors.
North America carbon black market is yet another potential regional competitor. Te regional market is expected to grow above the global average industry growth. Presence of a vast majority of end-use industries in the U.S. accounts for higher product demand compared to the European markets in terms of consumption of carbon black.
Some of the leading industry participants in the carbon black market include Cabot Corporation, PJSC, Shandong Huadong Rubber Materials Co., Ltd., Asahi Carbon Co., Ltd., Suzhou Baohua Carbon Black Co., Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Shandong Lion King Carbon Black Co., Ltd., Himadri Chemicals & Industries Ltd., Longxing Chemical Stock Co, Ltd., Ralson Goodluck , Mitsubishi Chemical Corporation , SID Richardson & Energy Co. , China Synthetic Rubber Corporation , OCI Company Ltd. , Jiangxi Black Cat Black Inc., Ltd. , OMSK Group OOO , Tokai Co., Ltd. , Phillips Black Limited , Orion Engineered S.A. , Thai Carbon Black Public Company Limited, and Cabot Corporation.