At 4.7% CAGR, the North America Carbon Black Market is projected to be worth US$ 2,761.87 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America carbon black market was valued at US$ 2,094.67 million in 2022 and is expected to reach US$ 2,761.87 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. Growing automotive tire sector and increasing demand for specialty carbon black are the critical factors attributed to the North America carbon black market expansion.

Specialty carbon black is the purest form of carbon black with a low level of ash, sulfur, metals, and other impurities. It is produced through the partial combustion of hydrocarbons such as oil and gas to meet rigorous specifications and deliver necessary functionality according to end-user requirements. Specialty carbon black is used as a reinforcing agent in hoses, belts, gaskets, vibration isolation devices, diaphragms, bushings, air springs, chassis bumpers, conveyor wheels, and grommets. It is also used in refuse sacks, industrial bags, photographic containers, stretch wrap, agriculture mulch film, thermoplastic molding applications for automotive, electrical/electronics, and blow-molded containers.

The rising demand for conductive specialty carbon black products and conductive additives is creating significant potential in various end-use industries such as transportation, industrial, and building & construction. Conductive carbon black is an extremely versatile substance and used for lithium-ion batteries, fuel cells, and polymer applications. Electric vehicles are a promising option to reduce greenhouse gas emissions and air pollution in densely populated areas and contribute to energy diversification. Increasing preference for electric vehicles is driving the demand for specialty carbon black.

On the contrary, high carbon emission by virgin carbon black hurdles the growth of North America carbon black market.

Based on type, the North America carbon black market is sub segmented into acetylene black, channel black, furnace black, thermal black, and others. The furnace black segment held 82.1% market share in 2022, amassing US$ 1,719.28 million. It is projected to garner US$ 2,285.98 million by 2028 to expand at 4.9% CAGR during 2022–2028.

Based on grade, the North America carbon black market is segmented into standard grade and specialty grade. The standard grade segment held 82.3% market share in 2022, amassing US$ 1,724.60 million. It is projected to garner US$ 2,255.76 million by 2028 to expand at 4.6% CAGR during 2022–2028.  

Based on application, the North America carbon black market is segmented into tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment held 67.9% market share in 2022, amassing US$ 1,422.80 million. It is projected to garner US$ 1,894.99 million by 2028 to expand at 4.9% CAGR during 2022–2028.    

Based on country, the North America carbon black market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 89.3% market share in 2022. It was assessed at US$ 1,871.34 million in 2022 and is likely to hit US$ 2,476.97 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.

Key players dominating the North America carbon black market are Klean Industries Inc; Delta Energy LLC; Imerys SA; Cabot Corp; Tokai Carbon Co Ltd; and Orion Engineered Carbons SA are the leading companies operating in the North America carbon black market.

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