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    Asia Pacific Carbon Black Market By Grade (N-660, N-550, N-762, N-774, N-772, 991, N-990, N-Others), By Process (Thermal black, Furnace black, Acetylene black, Channel black, Lamp black), By Application (Tires & rubber goods, Graphite manufacturing, Coatings, Polymers, Electronics, Printing), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027
    Published Date: April 2021   |   Report ID: GR1742   |   Delivery: PDF  Request Free Sample

    Asia Pacific Carbon Black Market size exceeded USD 7,817 million in 2020 and is anticipated to showcase a CAGR of 6.5% between 2021 and 2027. Increasing tire manufacturing owing to the expanding automotive industry, especially in developing nations, such as China, India, Indonesia, Philippines, etc.

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    Carbon black is utilized as an additive in a multitude of rubber-based products to reinforce the structure. The product is usually manufactured with the help of partial combustion of higher carbon petroleum products, for instance, FCC tar, ethylene cracking tar, and coal tar. In the case of automobiles, a large quantity of carbon black is consumed for tire manufacturing. Additionally, due to the high coloring capability of carbon black, it is widely used in inks for newspaper printing.

    APAC Market, By Application

    Rubber goods & tire manufacturing industries being the largest consumer of carbon black have a direct impact on the development of the market. In 2020, the tires and rubber goods segment dominated over 74% of the market share and is expected to witness over 6.6% growth rate through 2027. The rapid adoption of electric vehicles and increasing sales of luxury automobiles is substantially driving the automotive industry growth, and hence augment the demand for carbon black. Additionally, product manufacturers are focusing on the development of specialty carbon to achieve unmatching performance. Furthermore, a surge in the production of electric vehicles and other electric equipment is substantially fueling the need for li-ion batteries, which is creating new growth prospects for industry expansion.

    The APAC carbon black industry sustained heavy damage in recent times on account of the health crisis caused by the spread of novel coronavirus. The imposed lockdowns and restricted trade operations resulted in the slowdown of economic activities, which significantly affected consumer spending power. The reduced spending and alleviated automobile demand led to the downfall in the consumption of carbon black. In 2020, the market observed around 8% decline in revenue generation.

    APAC Market, By Process

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    Based on process, the furnace black segment is anticipated to acquire over 70% market share by 2027. On the other hand, the thermal black process is expected to observe substantial growth in the future and will emerge as the fastest-growing segment in the market during the assessment timespan. It is estimated to expand at over 7.8% CAGR till 2027.

    APAC Market, By Grade

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    Lower-grade carbon blacks, including N-550, N-660, and N-762 have witnessed more demand than the high-grade materials. For instance, N-550 recorded consumption of 2,579kilo tonnes in 2020, which was highest among other grades of carbon black. N-550 grade is a cost-effective product and finds major applications in rubber goods & tire manufacturing. It possesses impressive dimensional solidity for products like extruded profiles, belts, shoes, plastic piping, and brake diaphragms. Whereas, a relatively higher grade, N-660 has a low-medium structure and lower surface area. N-660 is an all-purpose grade carbon black and contributed over 25% revenue to the overall market in 2020.

    APAC Market, By Country

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    China carbon black market accounted for over 33% revenue share in 2020 attributed to increasing investments in the automotive sector and a large population is significantly fueling the sales of automobiles in the country, especially the sales of electric vehicles. As per the China Association of Automobile Manufacturers (CAAM), sales of plug-in vehicles and electric vehicles reached 0.25 and 1 million in 2020 respectively, making China the leading electric vehicle market in the regions and around the world. The accelerating vehicle demand is fueling the manufacturing of tire & rubber-based products, augmenting the demand for carbon black.

    Competitive Industry Landscape

    Some of the major manufacturers of carbon black having presence in the Asia Pacific region are HEG Ltd., Cabot Corp., Showa Denko K. K., Phillips Carbon Black Limited, Bridgestone Corp., Birla Carbon, Lianyungang Jinli Carbon Co., Ltd., OCI Company Ltd., Orion Engineered Carbons, Tokai Carbon, Syrah Resources Limited, and BTR New Material Group Co., Ltd.

    Frequently Asked Question(FAQ) :

    What was the size of the Asia Pacific carbon black market in 2020?
    The industry for carbon black in Asia Pacific was valued at USD 7,817 million during 2020 and will observe a CAGR of 6.5% up to 2027 with expanding automotive sectors in China, India, Indonesia, and the Philippines.
    How is the carbon black industry impacted by tire and rubber applications in Asia Pacific?
    The tires & rubber goods application segment was responsible for more than 74% of the regional market share in 2020 and will expand at 6.6% CAGR through 2027 with higher adoption of electric vehicles and growing sales of luxury automobiles.
    What is the expected growth trend for furnace black processes in Asia Pacific carbon black sector?
    The furnace black process segment is expected to hold over 70% of the market share in Asia Pacific by 2027.
    Why will China emerge as a key market for carbon black in Asia Pacific?
    China contributed nearly 33% of the regional overall carbon black revenue share in 2020 and will witness significant expansion with higher investments in the automotive sector.

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