Market Size of Asia-Pacific Carbon Black Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 3.40 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Carbon Black Market Analysis
The Asia-Pacific Carbon Black Market size is estimated at 9.41 Million tons in 2024, and is expected to reach 11.12 Million tons by 2029, growing at a CAGR of 3.40% during the forecast period (2024-2029).
The market was negatively impacted due to COVID-19. Owing to the pandemic scenario, several countries in Asia-Pacific went into lockdown to curb the spread of the virus. The shutdown of numerous companies and factories disrupted worldwide supply networks and harmed production, delivery schedules, and product sales. Currently, the market recovered from the COVID-19 pandemic and is increasing significantly.
- Major factors driving the market studied are growing application in fiber and textile industries, increasing market penetration of specialty black, and surge in demand from the tire industry.
- Volatile raw material prices and the rising prominence of green tires are expected to hinder the studied market's growth.
- Growth in the adoption of electric and self-driving cars and the surge in demand for carbon black in printing applications will likely create opportunities for the market in the coming years.
Asia-Pacific Carbon Black Industry Segmentation
Carbon black is a fine carbon powder made by incomplete combustion or thermal decomposition of gaseous or liquid hydrocarbons under controlled conditions. It is extensively used as a color pigment in paints and inks and as a reinforcing filler in rubber products.
The Asia-Pacific carbon black market is segmented by process type, application, and geography. The market is segmented by process type into furnace black, gas black, lamp black, and thermal black. The market is segmented by application into tires and industrial rubber products, plastics, toners and printing inks, coatings, textile fibers, and other applications (power, insulation, construction, etc.) The report also covers the market size and forecasts across 5 countries in the Asia-Pacific region. The market sizing and forecasts are provided in volume (tons) for each segment.
| Process Type | |
| Furnace Black | |
| Gas Black | |
| Lamp Black | |
| Thermal Black |
| Application | |
| Tires and Industrial Rubber Products | |
| Plastics | |
| Toners and Printing Inks | |
| Coatings | |
| Textile Fibers | |
| Other Applications (Power, Insulation, Construction, etc.) |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
Asia-Pacific Carbon Black Market Size Summary
The Asia-Pacific carbon black market is poised for significant growth, driven by its expanding applications in the fiber, textile, and tire industries. The market has shown resilience and recovery post-COVID-19 disruptions, with increasing demand from the automotive sector, particularly in China and India, which are dominant players in the region's rubber and tire industry. The automotive industry's performance, coupled with the rise in electric and self-driving cars, presents new opportunities for carbon black demand. However, challenges such as volatile raw material prices and the growing emphasis on green tires may impact market growth. The market's consolidated nature sees major players like Cabot Corporation, Mitsubishi Chemical Group Corporation, and Orion Engineered Carbons actively expanding their production capabilities to meet the rising demand.
China stands out as the largest consumer and producer of carbon black in the Asia-Pacific region, with the tire application holding the largest market share. Despite a recent decline in tire production due to reduced export demand, the country's automotive production has seen a rise, supporting domestic tire demand. The coatings market in China is also experiencing rapid growth, driven by the construction, automotive, and industrial sectors, which is expected to further boost carbon black demand. The presence of numerous coatings manufacturers and investments from global companies in China underscore the region's strategic importance. As carbon black manufacturers expand their facilities to cater to various end-user industries, the market is set to witness increased demand in the coming years.
Asia-Pacific Carbon Black Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Application in Fiber and Textile Industries
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1.1.2 Increasing Market Penetration of Specialty Black
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1.1.3 Surge in Demand from Tire Industry
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1.2 Restraints
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1.2.1 Volatile Raw Material Prices
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1.2.2 Rising Prominence of Green Tires
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Process Type
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2.1.1 Furnace Black
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2.1.2 Gas Black
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2.1.3 Lamp Black
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2.1.4 Thermal Black
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2.2 Application
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2.2.1 Tires and Industrial Rubber Products
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2.2.2 Plastics
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2.2.3 Toners and Printing Inks
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2.2.4 Coatings
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2.2.5 Textile Fibers
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2.2.6 Other Applications (Power, Insulation, Construction, etc.)
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 ASEAN Countries
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Carbon Black Market Size FAQs
How big is the Asia-Pacific Carbon Black Market?
The Asia-Pacific Carbon Black Market size is expected to reach 9.41 million tons in 2024 and grow at a CAGR of 3.40% to reach 11.12 million tons by 2029.
What is the current Asia-Pacific Carbon Black Market size?
In 2024, the Asia-Pacific Carbon Black Market size is expected to reach 9.41 million tons.
