By 2030, the CAGR of China's carbon black market is expected to grow at an astonishing 7.1%
According to StrategyR, a market consulting firm based in San Jose, California, United States, Global Industry Analysts, Inc. published a 178 page market research paper titled "Carbon Black - Global Strategic Business Report" in December 2024. According to the company's estimation, the global carbon black market size is expected to reach $16.1 billion in 2023 and is projected to reach $21.5 billion by 2030; The compound annual growth rate (CAGR) from 2023 to 2030 is 4.2%. This comprehensive report provides in-depth analysis of market trends, market drivers, and market forecasts, which can help readers in the carbon black industry make informed business decisions.
The technological advancement in production processes has promoted the development of high-performance carbon black, enabling it to meet the strict requirements of modern applications such as conductive materials for electronic products and high durability coatings for industrial use. In addition, the increasing popularity of electric vehicles (EVs) has further driven market growth. Environmental regulations and sustainable development issues encourage manufacturers to innovate and develop clean production methods and environmentally friendly carbon black products. The efforts to reduce carbon emissions and improve energy efficiency in the production process are becoming increasingly important, driving the carbon black industry towards a more sustainable direction.
The expansion of infrastructure projects and the growth of the construction industry have also driven an increase in demand for carbon black in coatings, sealants, and other building materials, as these applications benefit from the durability and protection provided by carbon black. From the perspective of different carbon black production methods, the furnace carbon black market is expected to show significant growth during the forecast period, reaching $9.6 billion by 2030 with a compound annual growth rate of 4.8%. The market for slotted carbon black is also expected to grow at a compound annual growth rate of 4.1% during the forecast period. From a global perspective, the US market is expected to reach $4.4 billion by 2023, while the Chinese market is projected to reach $4.5 billion by 2030 with an astonishing compound annual growth rate of 7.1%. In addition, the report predicts growth trends in other major regions, including Japan, Canada, Germany, and the Asia Pacific region.