The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing automotive industry are expected to drive innovation in carbon black manufacturing, thus driving the market during the forecast period.

The global carbon black market is expected to grow from $16.5 billion in 2022 to $17.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The carbon black market size is expected to grow to $23.39 billion in 2027 at a CAGR of 6.9%.

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Global Carbon Black Market Segments Include:

• By Type: Furnace Black, Channel Black, Thermal Black, Acetylene Black, Other Types
• By Grade: Standard Grade, Specialty Grade
• By Application: Tire, Non-Tire Rubber, Inks and Coating, Plastic, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global carbon black market in 2021.

Major Market Players in the carbon black market include Phillips Carbon Black Limited, Mitsubishi Chemical Holdings, Birla Carbon Public Company Limited, Cabot Corporation, Tokai carbon co. Ltd., Omsk carbon Group.

Strategic partnerships are a key trend gaining popularity in the carbon black market. The companies operating in the black carbon market are collaborating on the production of black carbon for their industrial uses. For instance, in December 2021, Monolith, a US-based firm that manufactures carbon black products, partnered with Goodyear, a US-based company manufacturing tires and rubber. With this partnership, Monolith aims to start its construction on the expanded Olive Creek facility and will produce 194,000 tons of cleanly made carbon black by 2025. Furthermore, in April 2022, Origin Materials Inc., a US-based carbon-negative materials company, partnered with Mitsubishi Chemical Holdings Group (MCHG), a Japan-based company manufacturing carbon black. This collaboration creates cutting-edge carbon materials for tire manufacture, allowing for the adoption of the original technology and assisting in the shift to sustainable materials in the automobile sector.

The Carbon Black Global Market Report 2023  provides a carbon black market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The carbon black market forecast analyzes carbon black market size, carbon black market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The carbon black is used as a protective coating for plastics, and resistors for electronic circuits. It refers to a fine black powder composed of elemental carbon which is produced by pyrolysis of low-value oil residues and partial burning at high temperatures under controlled process conditions. Carbon black is used to strengthen rubber in tires and acts as a pigment, ultraviolet stabilizer, and conductive or insulating agent in rubber, plastic, ink, and coating applications.

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