The global Carbon Black market is forecast to reach USD 27.43 Billion by 2030, according to a new report by Reports and Data. Carbon black is increasingly being used in tires, rubber and plastic products, printing inks, and coatings, owing to these properties. It is used in tires as it provides excellent rubber reinforcement. Though primarily used for strengthening rubber in tires, the product can also act as a pigment, UV stabilizer, and conductive or insulating agent in a variety of rubber, plastic, ink, and coating applications. Apart from tires, other everyday uses of carbon black are seen in objects like hoses, conveyor belts, plastics, printing inks, and automotive coatings.
Carbon black is one of the most commonly used conductive additive used for these batteries due to low weight, low cost, and high chemical inertness. Furthermore, it also provides higher battery capacity and rate capability and is non-toxic. Several studies have successfully shown that the adoption of the product improves the battery cycle life. For instance, Berkeley Lab researchers led by Robert Kostecki used carbon black additive for manufacturing composite cathodes for lithium-ion batteries. The resulting lithium-ion cells were found to last one-third longer and deliver more energy, at no significant increase in cost.
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Top Lading Players: Phillips Carbon Black Limited, Cabot Corporation, OCI Company Ltd., Birla Carbon, Omsk Carbon Group, Orion Engineered Carbons SA, Mitsubishi Chemical Corporation and Tokai Carbon Co., Ltd. Tokai Carbon, a Japanese chemical company is major global manufacturer. The company offers a wide variety of products, including SEAST, TOKABLACK, Aqua Black, and Thermal Black, for applications ranging from the automotive industry to electrical and electronics.
Carbon Black Market Growth and Demand:
The carbon black market has experienced steady growth in recent years, driven by increasing demand from end-use industries such as tire manufacturing, plastics, and coatings. Carbon black is a form of carbon that is produced by the incomplete combustion of heavy petroleum products. It is commonly used as a reinforcing agent in rubber products such as tires, as well as a pigment in plastics and coatings.
Some Key Highlights from the Report:
- Resins manufactured using carbon black are widely used in automobile bumpers, steel pipe linings, and wire coverings. When mixed with resins in a small amount, the product can absorb ultraviolet light, providing excellent resistance against ultraviolet rays and coloring.
- The graphite-type crystalline structure of the product ensures excellent electric conductivity. Thus, the product is widely used as conductive filler, being mixed in plastics, elastomer, paints, adhesives, films, and pastes.
- Carbon black has witnessed an increased adoption for the production of molded parts using injection and blow molding. The product is widely used in the automotive, consumer, and industrial markets. Consumers demand deep black color balance in the case of consumer goods such as appliances and electronics equipment and packaging.
- The increasing demand for lithium-ion batteries is projected to influence the market in the forecast period. Several companies have been offering carbon black to meet the growing demand for lithium-ion batteries. For instance, the LITX conductive additives by Cabot Corporation offer low-temperature performance and higher energy density with extended cycle life for electronics, electric vehicles, and energy storage systems.
- Asia-Pacific is projected to dominate the market in the forecast period. Increasing adoption of the product in end-use industries, including automobiles, paints, and coatings, and rubber is expected to boost the market growth. Moreover, the adoption of expansion strategies by market players operating in the region would also influence growth.
Segments covered in the report:
Process Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Furnace Black Process
- Channel Black Process
- Thermal Black Process
- Acetylene Black Process
Grade Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Standard Grade
- Specialty Grade
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Tires and Industrial Rubber
- High Performance Coating
- Films and Sheets
- Pressure Pipes
- Molded Parts
- Toners and Printing Inks
- Wires and Cables
- Paints and Coatings
- Textile Fibers
End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)
- Consumer Goods
- Automotive & Transportation
- Fuel Systems
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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