At 5.7% CAGR, the Asia Pacific Carbon Black Market is projected to be worth US$ 10,859.51 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific carbon black market was valued at US$ 7,800.23 million in 2022 and is expected to reach US$ 10,859.51 million by 2028, registering a CAGR of 5.7% from 2022 to 2028. Growing automotive tire sector and emphasis on waste tire management are the critical factors attributed to the Asia Pacific carbon black market expansion.

Waste tires are becoming a major environmental, economic, and technical challenge as they have a high content of combustible components and the potential to offer valuable materials and energy resources. In recent years, a variety of waste tire management methods have been adopted and applied across the world, including other important alternative methods for end-of-life tire management defined in 3R: reduction, reuse, and recycling to minimize damage. In addition to petroleum, natural gas, and steel, recycled carbon black is used as a key material in the production of tires, conveyor belts, and rubber parts; it is also used in the production of paints in some cases. By reusing tires, it is possible to reduce CO2 emissions, thereby aiding in adoption of waste tire management. Thus, emphasis on waste tire management is expected to give rise to several key trends bound to impact the carbon black market growth in the coming years.

On the contrary, high carbon emission by virgin carbon black hurdles the growth of Asia Pacific carbon black market.

Based on type, the Asia Pacific carbon black market is sub segmented into acetylene black, channel black, furnace black, thermal black, and others. The furnace black segment held 86.6% market share in 2022, amassing US$ 6,748.72 million. It is projected to garner US$ 9,452.66 million by 2028 to expand at 5.8% CAGR during 2022–2028.

Based on grade, the Asia Pacific carbon black market is segmented into standard grade and specialty grade. The standard grade segment held 84.9% market share in 2022, amassing US$ 6,624.58 million. It is projected to garner US$ 9,154.54 million by 2028 to expand at 5.5% CAGR during 2022–2028.  

Based on application, the Asia Pacific carbon black market is segmented into tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment held 68.5% market share in 2022, amassing US$ 5,343.23 million. It is projected to garner US$ 7,509.09 million by 2028 to expand at 5.8% CAGR during 2022–2028.     

Based on country, the Asia Pacific carbon black market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the China captured 61.3% market share in 2022. It was assessed at US$ 4,783.89 million in 2022 and is likely to hit US$ 6,790.49 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.   

Key players dominating the Asia Pacific carbon black market are Klean Industries Inc; Imerys SA; Tokai Carbon Co Ltd; Orion Engineered Carbons SA; Cabot Corp; and China Synthetic Rubber Corp are the leading companies operating in the Asia Pacific carbon black market.

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