The global carbon black market is predicted to be $22.1 billion by 2033

The demand for carbon black is expected to grow at a compound annual growth rate of 4.8%, reaching $22133.52 billion by 2033.

The increasing consumption of carbon black cars and construction activities has led to the expansion of the global market. The applications in consumer goods, electronic products, and tire manufacturing have also increased global demand. In addition, carbon black is used as a pigment in paints and coatings.

Due to the continuous expansion of the paint and coating industry driven by industrialization, carbon black manufacturers may further expand. The need to recycle tires through pyrolysis has increased in the automotive industry. This is because people are increasingly concerned about how to discard old tires.

The wasted energy is ultimately recovered in the form of thermal energy and other materials. Therefore, it is expected that market expansion will benefit from more attention to recycling procedures.

The explosive growth of the tire industry and the increase in carbon black adoption rate may drive the rubber market during the expected period.

The Application of Carbon Black in Plastics and Electronic Products

A significant portion of the equipment produced globally is black. Therefore, carbon black is a popular choice for various devices. For example, televisions, computers, laptops, and smartphones.

This further increases the demand for carbon black in the electronics industry. These are some variables that increase the usage rate of plastic products in production and are expected to drive market expansion.

The market is shifting to favor new applications and technologies. For example, as tire innovation seeks new and improved LRR (low rolling resistance) and focuses on reducing tire weight, the demand for carbon black may increase.

Short term growth (2023-2026): During this period, demand was driven by the expansion of the tire industry. Expand the application in fiber and textile fields, and expand the market penetration of special carbon black. Therefore, it is expected that the market valuation will reach $15941.2 billion by 2026.

Medium term growth (2026 to 2029): Advanced tires require different levels of carbon black based on their performance. It has increased the overall adoption rate and is expected to reach a valuation of $19229.4 billion by 2030.

Long term growth (2029-2033): The increase in the use of activated carbon black has an impact on long-term growth. Activated carbon black is also used in the manufacturing of medical devices and the purification of drugs. Due to the growing demand for drugs and medical equipment, it is expected that the activated carbon black market will expand.

Due to the increasing demand from numerous industries, some market competitors are focusing on increasing carbon black production, which has brought positive prospects to the carbon black industry. The main market participants aim to seize profitable opportunities in the industry.

As research and development activities increase, it is possible to identify effective and cost-effective methods for producing carbon black. Due to technological progress, the market is further expanding.

Major leaders such as Orion Engineered Carbons SA and Cabot Corporation are focusing on sustained strategies to increase production capacity. Due to production capacity being a core concern of manufacturers.

Cabot Corporation is a leading manufacturer of specialty chemicals. Its network has expanded globally, with 42 manufacturing factories in 20 countries/regions worldwide.

Orion Engineered Carbon SA has launched a new sustainable carbon black for rubber applications. This product is made from industrial grade vegetable oils that are non fossil generated, sustainable, and renewable.

Cabot introduced a new low (PAH) polycyclic aromatic hydrocarbons (PAH) Vulcan 3-LP carbon black. This release aims to help businesses fulfill their ongoing commitment to customers. Through continuous innovation and effective performance.

Cabot acquired Donghai Carbon Group in March 2022 to acquire its carbon black production facility in Tianjin, China.