Published on Monday, January 11, 2016
Carbon Black Market Report — Industry Growth, Size & Forecast (2025-2030)
The report covers global carbon black market production by country, segmented by process type (Furnace, Gas, Lamp and Thermal Black), application (Tires and Industrial Rubber Products, Plastics, Toners and Printing Inks, Coatings, Textile Fibers and Other) and geography.
Carbon Black Market Analysis
The carbon black market size is estimated at USD 24.10 billion in 2025 and is expected to reach USD 31.87 billion by 2030, at a CAGR of 5.75% during the forecast period (2025-2030).
The carbon black industry is experiencing significant transformation driven by evolving automotive and manufacturing sectors. Vehicle production has shown a remarkable recovery, with European production reaching over 9 million units in the first three quarters of 2023, marking a 14% increase compared to the previous year. This surge in automotive manufacturing has directly influenced the demand for carbon black, particularly in tire manufacturing and automotive components.
The plastics and polymer sector has emerged as a crucial growth driver, with China continuing to dominate global plastics industry, accounting for 32% of global plastic production in 2022. Major carbon black companies are responding through strategic expansions, exemplified by PCBL's commissioning of its first phase specialty black expansion at Mundra, Gujarat, in July 2023, adding 20,000 MTPA capacity.
The electric vehicle revolution creates new opportunities for carbon black manufacturers, particularly in battery and specialized component applications. Global EV sales demonstrated remarkable growth, with over 2.3 million units sold in Q1 2023, a 25% increase year-over-year.
Carbon Black Market Trends
Increasing Market Penetration of Specialty Black. Specialty carbon black, also known as pigment black, is witnessing significant market penetration due to its superior properties — sharp color, improved viscosity, conductivity and superior UV protection — with growing adoption in plastics, lithium-ion batteries and agricultural applications.
Growing Applications in Battery Segment. Conductive carbon black serves as a crucial conductive additive in lithium-ion battery cathodes. According to the IEA, lithium-ion battery demand increased approximately 65% to reach 550 GWh in 2022, driven by growth in electric passenger car sales.
Segment Analysis
Furnace Black dominates the market, commanding approximately 77% of market share, while the Tires and Industrial Rubber Products application represents approximately 75% of total market share. China dominates the Asia-Pacific market with approximately 54% share, and Germany leads Europe with approximately 36% of Europe's market.
Carbon Black Market Leaders
- Cabot Corporation
- Birla Carbon (Aditya Birla Group)
- Orion Engineered Carbons SA
- Jiangxi HEIMAO Carbon Black Co. Ltd
- International CSRC Investment Holdings Co., Ltd.