Carbon Black Market Insights: Share, Growth & Trends to 2032
According to Fortune Business Insights the global carbon black market size was valued at USD 27.59 billion in 2024. The market is projected to grow from USD 28.86 billion in 2025 to USD 40.10 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period. The rise is driven by the increasing deployment of the product in tire manufacturing and the growing plastic demand for automotive, consumer goods, and electronics industries.Carbon black is a fine black powder composed primarily of elemental carbon and is produced through the incomplete combustion of heavy petroleum products. It is widely used in manufacturing tires, rubber products, plastics, inks, and coatings, primarily due to its reinforcing properties and UV protection.
Fortune Business Insights™ provides this information in its research report, titled “Carbon Black Market, 2025-2032”.
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Segments:
Furnace Black Segment to Lead Driven by Soaring Demand from Rubber Manufacturers
Based on process type, the market is categorized into acetylene black, furnace black, thermal black, and others. The furnace black segment is set to lead the market, exhibiting an appreciable CAGR over the projected period. This is due to the growing usage of the product as a strengthening agent by rubber producers.
Standard Grade Segment to Register Notable Growth Impelled by Escalating Industrial Applications
On the basis of grade, the market is segmented into standard grade and specialty grade. The standard grade segment is touted to expand at a considerable rate over the anticipated period. The surge is propelled by the escalating adoption of these products for various industrial applications.
Tire Segment to Exhibit Substantial Surge Driven by Rapid Expansion of the Automotive Sector
By application, the market is classified into non-tire rubber, tire, inks & toners, plastics, and others. The tire segment is poised to exhibit substantial growth, holding a dominating market share, over the analysis period. The expansion is propelled by the rapid expansion in the automotive sector.
Based on geography, the market for carbon black has been studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Report Coverage:
The report gives a comprehensive analysis of the major trends poised to impel the global business scenario throughout the projected period. It further provides an insight into the key driving and restraining factors. Additional components comprise the impact of COVID-19 on industry growth and an account of the pivotal strategies adopted by leading companies for gaining strong industry footings.
Drivers and Restraints:
Expansion of the Rubber Sector to Impel Market Growth
The escalating product demand from the consumer goods, electronics, automotive, and construction sectors is propelling the expansion of the rubber sector. This is set to propel the carbon black market growth over the forecast period.
However, the production of carbon black involves the emission of hazardous gases. This may hinder industry expansion to some extent.
Competitive Landscape:
Leading Companies Undertake Strategic Steps to Strengthen Industry Foothold
Key carbon black players are centered on adopting various strategic deals for strengthening their positions in the market. These comprise merger agreements, partnerships, acquisitions, and the launch of new products. Additional initiatives include collaborations and the formation of alliances.
Key Industry Development:
March 2022 – Cabot Corporation acquired Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group. The deal helped the expansion of the manufacturing capacity of Cabot. The company planned to invest for capacity upgradation for supporting the development of lithium-ion batteries.
List of Key Players Mentioned in the Report:
- Birla Carbon Thailand Public Co. Ltd. (Thailand)
- Cabot Corporation (U.S.)
- Orion Engineered Carbons SA (Germany)
- Phillips Carbon Black Limited (India)
- CSRC Group (Taiwan)
- Omsk Carbon Group (Germany)
- OCI COMPANY Ltd. (South Korea)
- Himadri Speciality Chemicals Ltd. (India)
- Longxing Chemical Industry Co., Ltd. (China)
- Mitsubishi Chemical Holdings Corporation (Japan)
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