The carbon black market is anticipated to witness considerable growth owing to the increasing disposable income, rising demand for automobiles, high demand for rubber goods, and high product adoption across other application avenues like electronics, printing, coatings, and polymers among many others. Carbon black is one of the vital components used in making numerous products for everyday use.

It is often stronger, deeper in color and last for a longer period. In its purest form, the component is a fine black powder, fundamentally composed of elemental carbon. The carbon black market is bifurcated into many segments in terms of process, grade, application, and regional landscape.

With respect to process, the market for carbon black is classified into channel black, lamp black, acetylene black, thermal black, and furnace black. In 2019, the channel black segment held around 5.36% demand share and is expected to register more than 5.1% CAGR over the forecast time period up to 2027. This process has numerous challenges with yield and its environment impact.

Due to aforementioned factors, channel black has lost its leading position to the furnace black process. The product obtained from this method has various functional groups on the surface, being efficiently used in some painting applications.

In terms of grade, the overall carbon black market is segmented into N-991, N-990, N-774, N-772, N-762, N-660, N-550, and others. Among these, N-774 grade segment is a semi reinforcing black with a very low surface area as well as structure. In comparison to N-772, its structure is slightly higher. This grade is also used in manufacturing tires. The rising demand for tires from passenger vehicles will propel the demand for N-774 in the coming years.

N-990 grade segment is basically a thermal carbon black with the smallest surface area of all carbon blacks. This grade type provides low compound viscosity and is commonly used in manufacturing of rubber goods including sponge rubber, gaskets, and wiper blades.

Likewise, N-991 grade segment is a thermal black having low values of dispersion and structural features. This particular grade is used in manufacturing of rubber goods. It allows to obtain a balanced combination of high performance of rubbers with a good processing of mixtures. The growing demand for rubber goods will drive market growth of N-991 over the forecast time period.

The other grades segment includes N-115, N-121, N-134, N-220, N-234, N-326, and N-339. Different grades are used for various other purposes as per that grades’ characteristics. However, the tire and rubber goods industry is the one of the largest end users of these carbon black grades. Rubber goods are witnessing healthy growth in end user industries, which will fuel the element consumption.

From a regional frame of reference, in 2019, the carbon black market in Asia Pacific accounted close to half of the global market share. The region is also the largest carbon black producer and the largest consumer due to presence of two of the largest domestic markets, that is China and India.

The demand for automobiles is rapidly rising in Asia Pacific owing to increasing disposable income. Besides, the demand for rubber goods for industrial and general-purpose application is also rising, thus aiding the industry consumption of carbon black.