#US Carbon Black market share

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The Growing Prominence of the Carbon Black Market fueled by Rising Automotive Industry

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What is the Size of US Carbon Black Industry?

US Carbon Black Market is expected to grow at a CAGR of ~ % between 2017-2022 and is expected to reach ~USD Mn by 2028.  The Carbon Black Market is majorly driven by increasing automotive industry, tire replacement demand, urbanization and renewable energy needs, fueled by rising middle-class populations and technological advancements.

The automotive industry is a major consumer of carbon black, using it in tire manufacturing to improve tire strength, durability, and overall performance. As the global demand for vehicles increases, particularly in emerging economies, the demand for carbon black in tire production grows as well.

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n mature markets, there is a continuous demand for tire replacements due to wear and tear. This consistent need for replacement tires drives demand for carbon black to be used in new tire production.

Carbon black is used as a pigment and colorant in various products like inks, paints, and coatings. The growing use of these products in diverse industries such as construction, packaging, and consumer goods drives demand for carbon black.

Ongoing research and development in carbon black production techniques can lead to improvements in quality, efficiency, and cost-effectiveness. These advancements stimulate the market growth by making carbon black more accessible to various industries.

US Carbon Black Market by loan Process

In terms of loan type, the market is segmented into Furnace Black and Gas Black. Furnace Black is seen dominant in the US Carbon Black market in 2022. Furnace Black is a type of Carbon Black produced through the incomplete combustion of hydrocarbons. It finds extensive applications in the production of rubber, tires, plastics, inks, coatings, and other industrial products due to its reinforcing and coloring properties. This ubiquity across multiple sectors positions Furnace Black as a central component in various manufacturing supply chains.

Moreover, the versatility of Furnace Black has allowed industries to find innovative applications beyond traditional uses, such as in renewable energy technologies, specialty materials, and advanced composites. This adaptability has expanded its market reach and influence.

US Carbon Black Market by end Application

The market is segmented by Tires and Rubber products, Plastic, Toners and Printing inks, Coatings and Others. Among these, Tires and Rubber products is majorly the dominant end users in the US Carbon Black market as noted in 2022. As vehicles move, friction between tires and roads generates Carbon Black particles that contribute to air pollution and pose health and environmental risks.

Amid growing concerns about air quality and environmental impact, the Tires and Rubber products sector has faced increased pressure to mitigate its emissions. Regulatory agencies and consumer demand for eco-friendly products have prompted manufacturers to adopt strategies that reduce Carbon Black emissions.

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US Carbon Black market by Region

The US Carbon Black market is segmented by Region into North, South, East, West and central. In 2022, South region is more dominate in US Carbon Black Market.  The South region has witnessed a growing emphasis on environmental sustainability and air quality improvement. Cities within this region, such as Houston and Atlanta, have grappled with significant air pollution challenges, spurring local governments and industries to address Carbon Black emissions more aggressively.

Competition Scenario in US Carbon Black Market

The competition scenario in the US Carbon Black market was characterized by a mix of companies and organizations focused on reducing Carbon Black emissions and promoting cleaner technologies.

Prominent players in this market included environmental consulting firms such as Aether, Abt Associates, and ICF International. These companies provided expertise in air quality monitoring, emission inventories, and policy analysis, assisting industries and governments in devising strategies to mitigate Carbon Black emissions.

In addition to consulting firms, technology providers played a crucial role. Companies like Cleaire Advanced Emission Controls and Johnson Matthey offered emission control solutions, including diesel particulate filters and catalytic converters, designed to reduce Carbon Black emissions from vehicles and industrial sources.

What is the Expected Future Outlook for the Overall US Carbon Black Market?

The US Carbon Black market was valued at USD ~Million in 2022 and is anticipated to reach USD ~ Million by the end of 2022, witnessing a CAGR of ~% during the forecast period 2022- 2028. The US Carbon black market is driven by increasing urbanization, rising automotive industry and rising demand for consumer goods. Carbon black is integral to tire production, enhancing tire strength and performance. As vehicle demand increases, particularly in electric and autonomous segments, the need for quality tires will drive carbon black demand.

The shift toward sustainability will influence the market. Manufacturers seeking eco-friendly alternatives will drive demand for sustainable carbon black, derived from sources like pyrolysis of waste tires. This aligns with green initiatives and offers growth potential. Increasing number of applications, the market's expansion will be fueled by innovative applications beyond tires. Carbon black finds use in conductive plastics, battery components, and aerospace materials, benefiting from technology-driven trends in electronics, energy storage, and aviation.

The growing renewable energy sector presents opportunities. Carbon black enhances wind turbine blade strength, crucial for wind energy expansion. As the US emphasizes clean energy, carbon black's contributions to wind power will drive its demand. Urban development will also fuel the demand for carbon black in construction materials, coatings, and sealants. As US cities evolve, the construction industry's steady growth will sustain the market's need for these applications.

Furthermore, Carbon black's role in plastics, packaging, and consumer goods will experience growth as US consumer preferences evolve. The trend toward durable, UV-resistant products will drive manufacturers to incorporate carbon black for enhanced performance. Carbon black's diverse applications contribute to its resilience during economic fluctuations. Industries ranging from automotive to construction rely on its properties, ensuring a steady demand even amidst changing economic conditions, securing future market growth.

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Top 4 players in US Black Carbon market

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STORY OUTLINE

Cabot Corporation: A leading contributor of US Black Carbon market since 1882. Their products are known to provide UV protection and conductivity.

Birla Carbon: An Indian flagship business with more than 160 years of experience in the Black Carbon business.

Continental Carbon Company: Providing Black Carbon products in lines of Industrial Rubber Carbon Black, Tire Rubber Carbon Black, and Specialty Carbon Black since 1936.

Orion Engineered Carbons: Providing Black carbon products majorly in two areas, i.e., Rubber Black Carbon and Specialty Black Carbon for more than 160 years.

According to Ken Research, the United States Black Carbon market is anticipated to become a ~USD 3 Bn. industry by 2028 by growing at a CAGR of ~2.5%.

The US Carbon Black market is rapidly growing and is anticipated to attain a significant level of growth in the upcoming years.

There are many reasons behind the growth of US Carbon Black market. Some of these reasons include increasing automotive sales, industrial growth and increase in urbanization rates, along with rise in the demand for rubber goods.

Various companies and players are contributing to their best efforts in the growth of the US Black Carbon market.

This article aims to put light on the contributions done by the major players towards the growth of the US Black Carbon market.

1.Cabot Corporation

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Founded in 1882, headquartered in Boston, Massachusetts, having more than 4000 employees worldwide, and presence in more than 20 countries along with a total revenue of USD 4 Bn. in 2022, this chemical company is a leading contributor of US Black Carbon market.

During 1993, their team was successful in developing a method or process of modifying carbon’s surface, which in turn allowed people to be able to change or modify the carbon surface with other chemicals.

This discovery also led to the development of various other technologies such as printer ink and inject colorants.

The products made by this organization has various applications in various fields such as consumer rubber products, adhesives & sealants, construction, digitalization, inject technology, oil, gas & mining, digitalization, fiber, plastics, tires, etc.

When it comes to Black Caron, this chemical company happens to be the largest producer of it. Some of the popular Black Carbon products offered by this organization include VULCAN, BLACK PEARLS, REGAL, MOGUL, ELFTEX, STERLING, MONARCH, etc.

One of the most amazing feature of their specialty carbons is that they are known to provide ultraviolet protection, and conductivity. Furthermore, these carbons are generally used in the areas of coatings, plastics, printing and packaging.

2.Birla Carbon

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Birla Carbon is one of the flagship business of the parent company Aditya Birla Group. This flagship business is the largest producer of carbon black and is a well-established business not only in the US Carbon Black but in the whole world when it comes to black carbon.

One of the interesting facts about this organization is that it has more than 160 years of experience when it comes to the Carbon industry. Moreover, this organization has 16 manufacturing sites, 2 corporate offices, 2 technology centers, and 8 offices situated in the whole world.

Their manufactured Black Carbon is primarily used in areas of Tires, Specialty Blacks, plastics, electronic products, and mechanical rubber goods.

Last year, they also have opened their remote black carbon showroom which is primarily done to get a knowledge of benefits along with applications of black carbon products.

Their black carbon primarily come in two types, i.e., Industrial and Rubber. Former’s products include COPEBLACK, RAVEN, and CONDUCTEX. While the latter’s products include STATEX and FURNEX.

Recently, they also announced that they aspire to achieve zero carbon emissions by the year 2050.

To achieve this aspiration, they are also following the Green Finance framework. Birla Carbon is also keen to achieve sustainability excellence. In fact, last year the celebrations for their decade of sustainable excellence were also done.

3.Continental Carbon Company

Headquartered in Houston, Texas; with more than 500 employees and presence in almost 15 countries, the Continental Carbon Company is a leading American company in the US Black Carbon market. This company has been in this market since 1936.

They have various lines of work within their Black Carbon range. Industrial Rubber Carbon Black, Tire Rubber Carbon Black, and Specialty Carbon Black are primarily the three of their product lines.

Their Industrial Rubber Carbon Black is suitable for many things such as flex strength for belts & hoses, weather stripping, abrasion resistance for footwear, and commercial roofing. The products in this line include N550, N650, N660, N683, N762 and N774.

Their Tire Rubber Carbon Black is primarily provides fuel mileage, abrasion resistance, treadwear, hysteresis. The products in this category include N234, N326, N330, N351, LH30, N550, N650 and N660.

Their Specialty Carbon Black typically provides conductivity, UV protection, and pigmentation. The products in this category primarily include SBX152, SBX252, SBX352, SBX452, SBX552, SBX652, SBX256, SBX656, SBX 251, and SBX351.

4.Orion Engineered Carbons

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Operating in the Black Carbon market for more than 160 years, this German company is a well-established company in the US Black Carbon market. It has its headquarters situated in Luxembourg, Europe. On the other hand, its executive offices are situated in Houston, Texas, US.

This company was formed in the year 2011 when the Evonik Industries decided to sell off their Black Carbon business. Now this chemical company is known to be the pigment black’s largest producer, and rubber blacks’ third largest producer in the world.

Their product lines can be broadly divided into two categories: Rubber Black Carbon and Specialty Black Carbon. The former is primarily used in the tire industry while the latter is typically used paints, coatings, and lithium-ion batteries.

Footwear, Wiper Blades, Gaskets, Seals, Extruded Profiles, Tubes, Rubber flooring, Anti-vibration engine mounts, Seals, Belts, etc. are the primary applications of their Black Carbon products.

Their Black Carbon products primarily include Thermal Blacks, Furnace Blacks, Specialty Gas Blacks, Lamp Blacks, Acetylene Blacks, etc.

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The US Carbon Black Market is anticipated to reach ~USD 3 Bn. market by 2028

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The United States Carbon Black Market which currently has a market size of ~USD 2.7 Bn. is projected to grow at a CAGR of 2.5% during the time period 2022-2028 as per the findings of Ken Research.

STORY OUTLINE

Rising sales of automotive industry accelerate the US Carbon Black market as Carbon Black is widely used in automotive vehicles.

Urbanization also pump the US Carbon Black market as the high prevalence of Urbanization leads to transportation and construction processes which use Carbon Black.

Industrial growth also make use of Carbon Black and related products thereby contributing to the growth of the US Carbon Black market.

Increase in demands of Rubber goods is also a major factor responsible for the growth of US Carbon Black market as most of the rubber goods have Carbon Black.

A fast growing industry, increasing automotive sales, industrial growth and increase in urbanization rates, along with rise in the demand for rubber goods are the various reasons contributing to the growth of US Carbon Black Market. As per Ken Research, this market is expected to become a ~USD 3 Bn. industry by 2028.

1.Rising sales of Automotive: accelerating the US Carbon Black market

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Carbon Black is widely used in the automotive vehicles primarily in their tires. The main purpose of usage of this product is to ensure the good strength of the tires. As the sales of automotive vehicles rises, the demand for Carbon Black also rises which ultimately results in the growth of US Carbon Black Market.

Automotive vehicles have always been sold widely in the US. In 2018 and 2019, approximately 17.3 million and 17 million vehicles were sold.

However, the US witnessed a sharp decline in the sales of automotive vehicles after the arrival of Covid-19. In 2020, only 14.5 million automotive vehicles were sold. Speaking of 2022, approximately 15 million vehicles were sold.

Despite the pandemic, it is still a large number and it is only expected to further rise in the upcoming years.

As per the data of 2020, almost 92% households in the United States have at least one automotive vehicle.

Moreover, in 2020, globally approximately 77 million vehicles were manufactured. US happens to be the second largest producer of these vehicles, being only after China and producing almost ~9 million vehicles.

When there are such high number of automotive vehicles being sold and made, the demand for Carbon Black also rises as the Carbon Black is required in strengthening of tires which are a key element in any vehicle. This way, the automotive vehicles help in the growth of US Carbon Black market.

2.Rising Urbanization: pumping the US Carbon Black Market

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Urbanization has been rapidly growing in the United States. Urbanization is also a key contributor of US Carbon Black market as the urbanization rise, the construction processes, and transportation also rise in the country, all of which requires the use of Carbon Black.

In the 2000s, 79% of people were living in urban areas and the rest 21% were living in rural areas. During the 2010s, the percentage of people living in urban areas rose to 81 and rest 19% people were still in rural areas.

During the 2020s, 83% of people are living in urban areas and the 17% of people are still living in rural areas.

This number is projected to become 85% people living in urban areas during the 2030s. During the 2040s, it is anticipated that 87% of people would be living in urban areas and the rest 13% of people would be living in rural areas.

By 2050s, 89% of people would be living in urban areas and just 11% of people would be living in rural areas.

When such high percentage of US population is living in urban areas, the number of automotive vehicles, transportation processes, and construction processes also happen to be happening at large. All of these things require the use of Carbon Black which ultimately drives the US Carbon Black market.

3.Rising demand for Rubber products which also make use of Carbon Black:

The rising demands of Rubber is another factor that is majorly contributing to the growth of US Carbon Black market. Many rubber products such as tires, belts, rubber gloves, hoses, shoe soles, gaskets, etc. make use of Carbon Black.

In 2021, the United States exported approximately USD 73 Mn. worth of rubber. The country is known to be the 19th largest exporter of rubber in the world which primarily exports it to Brazil, Netherlands, Canada, Mexico and Germany.

Speaking of their imports, US imported about USD 200 bn. worth of rubber in 2021. The nation happens to be 2nd largest importer of rubber which mainly imports from Indonesia, Vietnam, and Thailand.

The high number of US’ imports depict nothing but the demand for rubber and rubber products in the country. Many rubber products make use of Carbon Black. Thus, as the demand for rubber rises, the demand for Carbon Black also rises which in turn helps in the growth of the US Carbon Black market.

4.Industrial growth in the country: pumping the US Carbon Black market

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Industrial growth in the country also results in generating the demand for Carbon Black as it is widely used in manufacturing and construction processes.

The United States witnessed approximately 2.3% of industrial growth in 2019. This number decreased down to -2.6% and -3.2% in the years 2020 and 2021 respectively primarily due to the negative effect of Covi-19. Due to the pandemic, all the construction and manufacturing processes were frozen.

However, in the 2022, the industrial growth made a strong come back. The US witnessed an industrial growth of 3.8%.

Now as the industrial growth increases, the construction and manufacturing processes also increase which ultimately generate the demand for Carbon Black, thereby contributing to the growth of US Carbon Black Market.

CONCLUSION

There are various reasons responsible for the growth of US Carbon Black market. Some of the major reasons behind the growth of US Carbon Black market include rise in automotive vehicle sales, industrial growth, increase in demands for rubber goods and increase in urbanization rates. As per Ken Research, this market is anticipated to grow at a CAGR of ~2.5% in the next five years.