Carbon Black Market size is anticipated to exceed USD 45 billion by 2032, as per a new research report announced by Global Market Insights Inc.
Car tire manufacturers are increasingly using specialty carbon black as a raw material owing to its enhanced UV protection, conductivity, pigmentation, and anti-static applications. Some grades of specialty carbon black offer high coloring strength, treadwear, excellent processability, and abrasion resistance. These robust characteristics will increase product consumption over the years.
Specialty chemical manufacturers such as Himadri have introduced innovative carbon black products suited for various applications. These high-performance specialty carbon black product ranges are designed to address niche specifications in plastics, as well as for plastic master batches, paints, inks, coatings, and other applications. The widespread applicability will also promote product usage in high performance industrial sectors.
Preference for thermal black process in tire manufacturing to stimulate product acceptance
Carbon black market value from the thermal black process segment is anticipated to be worth more than USD 4.5 billion by 2032. Thermal black process has the largest particle size along with the lowest structure and surface. It uses heavy aromatic oils or methane as feedstock material, which increases its purity.
The process also involves the use of a furnace pair that alternates between preheating and producing carbon black every five minutes. Thermal black registers the lowest dibutyl phthalate absorption (DBPA) numbers in comparison to other carbon black processes, which indicates a low particle aggregation. Such unique properties are encouraging tire manufacturers to use the thermal black process, thereby augmenting market statistics.
Use of N-550 grade carbon black expands with boost in vehicle production
N-550 grade segment is expected to surpass USD 16 billion by 2032. The N-550 grade is a general-purpose fast extruding black with a minimum surface area. Growing production of passenger car and truck components has increased the demand for N-550 grade carbon black, as it is used as a body compound in the tires for these vehicles.
The N-550 grade is also used in various mechanical rubber goods, particularly in profiles. This carbon black also has excellent dimensional stability for extruded profiles of belts, shoes, plastic piping, and brake diaphragm, further contributing to its use in the production of vehicular components.
Rising use of graphite in metallurgical applications to fuel carbon black demand
Carbon black market share from the graphite manufacturing application segment is expected to register over 6% CAGR from 2023 to 2032. This growth can be attributed to the vast applicability of graphite. Graphitized carbon black is widely utilized as a solid phase extraction sorbent in the food and environmental testing sectors. Graphite manufacturing has also increased with the growing demand for the element across India and China.
Graphite’s high temperature resistance enables it to be used for electric arc furnaces, in order to reduce iron from iron ore. With the requirement for electric arc furnaces in steel manufacturing surging steadily, the utilization of carbon black for metallurgical applications such as these will increase over the years.
Browse key industry insights spread across 250 pages with 216 market data tables and 26 figures & charts from the report “Carbon Black Market size By Process (Furnace Black, Thermal Black, Acetylene Black, Lamp Black, Channel Black), By Grade (N-550, N-660, N-762, N-772, N-774, N-990, N-991), By Application (Graphite Manufacturing, Tires & Rubber Goods, Coatings, Polymers, Printing, Electronics), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Presence of major carbon black end-users to influence market dynamics in North America
North America carbon black market is expected to depict over 6% CAGR from 2023 to 2032. The strong presence of car and rubber goods manufacturers has increased the demand for carbon black in the region. Growing demand for passenger cars and SUVs has also amplified the requirement for specialty carbon black in the mass production of car tires.
For instance, a survey from the U.S. Census Bureau estimated that around 91.5% of American households owned at least one vehicle in 2020. The rapid rise in vehicle ownership has led to an increase in the production of tires and other rubber equipment. This, in turn, has increased the acceptance for substances such as carbon black, which may influence regional industry trends over the forecast period.
Growing involvement of industry players in R&D projects to drive market expansion
Some of the companies operating in the carbon black market include Cabot Corp., Continental Carbon Company, HEG Ltd., Showa Denko K. K., Bridgestone Corp., Phillips Carbon Black Limited, Birla Carbon, Orion Engineered Carbons, OCI Company Ltd., and GrafTech International. Many of these companies are involved in R&D projects that enable their business landscape.