Carbon Black Market Size

Carbon Black Market Size

Carbon Black Market was valued at USD 19.2 billion in 2023 and is anticipated to exhibit over 6.5% CAGR from 2024-2032. Surging requirement for mechanical rubber goods to boost market development.

Automotive OEMs use carbon black as a stabilizing chemical filler in tire rubber. The chemical enhances the tensile strength and abrasion resistance of these tires which increases their longevity. The growing demand for passenger vehicles has increased the procurement of carbon black. According to the Society of Indian Automobile Manufacturers (SIAM), around 143,014 units of passenger vehicles were sold in March 2020. Thus, escalating sales of passenger vehicles in addition to enhanced tire characteristics will augment the carbon black market expansion.
 

Health hazards associated with the usage and exposure of carbon black may hamper the market growth. As per the U.S. Environmental Protection Agency (EPA), the inhalation of black carbon is associated with health issues such as cardiovascular diseases, and cancer. Furthermore, its ability to absorb light as heat significantly contributes to climate change.
 

Numerous mechanical rubber goods, including tubes and hoses, conveyor belts, extruded profiles, molded products, seals, gaskets, anti-vibration engine mounts, wiper blades, rubber flooring, and footwear, are produced using carbon black. The most widely used and cost-effective reinforcing agent in mechanical rubber products—including industrial rubber products, membrane roofing, automotive rubber parts, and general rubber goods—is rubber carbon black.
 

Companies have created a special product grade to meet the needs of the mechanical rubber goods industry due to the wide range of uses in different mechanical rubber goods. The industry, however, is undergoing a consolidation process. Due to the region's rapidly expanding economies, industrialization, rising per capita income, and population growth, it will experience strong growth there. The demand for rubber carbon black in mechanical rubber goods is mainly determined by automotive trends, construction activities, and general industrial output.