On November 1st, Fortune Business Insights, a world-renowned market research and consulting organization, recently published a market research report titled "Global Carbon Black Market Size and Industry Analysis 2024-2032." The report pointed out that the global carbon black market will reach US$27.44 billion in 2023 and is expected to climb to US$28.76 billion in 2024 and is expected to reach US$41.28 billion by 2032. The compound annual growth rate (CAGR) during the forecast period is 4.6%.
In terms of regional distribution, the size of the Asia-Pacific carbon black market will reach US$15.87 billion in 2023, accounting for 36.2% of the global market share, and is expected to continue to lead the development trend of the global market in the next few years. As a major producer and consumer of carbon black, China's market growth is mainly due to the continued increase in demand for carbon black in the tire and plastic products industries. At the same time, the strengthening of R & D activities and continuous product innovation in China have further promoted the increase in carbon black consumption.
According to the Carbon Black Industry Network, carbon black is produced by incomplete combustion and pyrolysis of heavy oils such as ethylene cracking tar, coal tar or catalytic cracking clarified oil. Carbon black has the characteristics of absorbing ultraviolet light and converting it into heat, improving thermal conductivity, enhancing the wear resistance of tire tread compounds and reducing tire rolling resistance, so it is widely used in various industrial and consumer durables. The production of carbon black mainly adopts processes such as oil furnace method and heat treatment, of which a large amount of carbon black is specially used in tire manufacturing as a reinforcing agent for rubber.
In addition, carbon black is also used as a special colorant and is widely used in printing inks, resin coloring, paints and toners. At the same time, carbon black is also widely used in products such as antistatic films, fibers and floppy disks due to its electrical conductivity. With the increasing demand for carbon black in tire manufacturing and other application areas, the carbon black market has shown strong growth momentum. Especially in the production of plastic products, carbon black is increasingly widely used as a conductive filler, pigment and reinforcing agent, further promoting the growth of the carbon black market.
On the other hand, the rapid development of the rubber industry is also one of the important factors driving the growth of the carbon black market. With the increasing demand for rubber products in the automotive, electronics, consumer goods and construction industries, the rubber industry is showing a rapid growth trend. As an important filler in rubber products, carbon black is used in almost all rubber products, such as wires and cables, tires, hoses, air springs, etc., to enhance and improve their physical properties.
It is worth noting that the increase in demand for special carbon black has also brought new growth points to the market. Special carbon black has a series of unique properties, such as excellent UV protection and electrical conductivity, which can meet the functional needs of specific application areas and the performance requirements of end users. Therefore, special carbon black is widely used in fields such as molded parts, films and plates, wires, cables, and pipes.
