What is the market size of the Carbon Black industry? At present, the global carbon black market will grow from $13.22 billion in 2022 to $18.09 billion in 2029, with a compound annual growth rate (CAGR) of 4.6% during this forecast period.
Compared with the level before the COVID-19 epidemic, the demand for carbon black in all regions of the world is lower than expected. The statistical data analysis of this report shows that the global carbon black market size in 2020 decreased by 11.5% compared to 2019.
Due to the increasing demand in the automotive, electronic, durable consumer goods, and construction industries, the rubber industry is growing rapidly. In the above industries, rubber products are widely used in the production of wires and cables, tires, hoses, air springs, door and window seals, belts and gaskets.
The downstream market demand in the carbon black industry is sluggish, and it is difficult to improve in the short term. The profitability of carbon black enterprises will still be maintained at a relatively low level. At present, although the profitability of the carbon black industry still depends on the upstream face, the downstream technological transformation space is very broad, and leading enterprises are also accelerating their transformation, targeting higher value-added product areas. In recent years, the fields of new energy vehicles, new energy batteries, and new materials have developed rapidly, and the use of high-performance carbon black as a special material for green tires has gradually increased. Recycling high-performance carbon black such as carbon black, green carbon black, and conductive carbon black will become the mainstream direction of future development.
Carbon black is one of the indispensable and important materials in industrial economy. Its upstream is high-temperature coal tar, anthracene oil, ethylene tar, etc; Downstream products include tires, coatings, inks, and other rubber products.
It is understood that the raw materials needed for the production of carbon black include coal tar, anthracene oil, carbon black oil, etc., of which coal tar is the most important part. The changes in supply and demand in the raw oil market and the fluctuations in international crude oil prices will directly affect the production costs of enterprises. In recent years, due to factors such as policy adjustments in the domestic steel and coking industries and fluctuations in international oil prices, the prices of raw materials have fluctuated significantly.
Deep market research on carbon black industry
In 2011-2021, China's new production capacity will continue to rise, with a compound annual growth rate of 4.04%. At present, the Chinese carbon black industry is facing problems such as overcapacity, low industry profits, disorderly market competition, and severe export situation. In 2021, the capacity utilization rate of the Chinese carbon black industry was 59.84%, with a capacity of 8.95 million tons; In 2021, the production of carbon black reached 5.188 million tons, an increase of 8.09% year-on-year.
From January to November 2022, the total export volume of carbon black in China reached 757600 tons, a year-on-year increase of 14.7%; The total import volume of carbon black was 83300 tons, a year-on-year decrease of 11.5%.
In 2022, the overall price of carbon black market will show an upward trend.
Looking back at the carbon black market in 2022, according to the data of the business community, the price of carbon black rose by 31.34% last year, up to 12000 yuan/ton, but at the same time, the main raw materials for carbon black production, such as coal tar, ethylene tar and other raw materials, also experienced a sharp rise.
Based on the calculation of China's carbon black production and import and export situation, the apparent demand for carbon black in China continued to increase from 2016 to 2019, and decreased for the first time in nearly six years in 2020. The compound growth rate of China's carbon black market from 2016 to 2021 was 5.46%. In 2021, the market size of China's carbon black industry was approximately 63 billion yuan.
On the one hand, the rise in raw material prices drives up the price of carbon black; On the other hand, due to changes in the international situation, there is a supply gap in the overseas carbon black supply market, which has been digested by the domestic market and has also provided support for the rise in carbon black prices. Under the combined effect of the above reasons, the carbon black market price in 2022 will maintain an overall growth trend.
From the perspective of industry structure, there is currently a certain structural overcapacity in China's carbon black industry, and homogeneous competition is relatively severe. In the low-end carbon black product market, there is fierce market competition and limited industry profit margin. In the mid to high end product market, such as low rolling resistance carbon black and high-performance carbon black products required for green tires, there is still a significant demand gap, maintaining a high profit level. Therefore, enterprises with innovative capabilities and high cost control levels have significantly higher profitability than the average industry profit level.
The downstream market demand in the carbon black industry is sluggish, and it is difficult to improve in the short term. The profitability of carbon black enterprises will still be maintained at a relatively low level. At present, although the profitability of the carbon black industry still depends on the upstream face, the downstream technological transformation space is very broad, and leading enterprises are also accelerating their transformation, targeting higher value-added product areas.
Market Prospect Analysis of Carbon Black Industry
During the forecast period, the increasing popularity of rubber products, coupled with the rapid growth of the tire industry, will drive the development of the global carbon black market.
According to the application field, the carbon black market can be divided into tires, non tire rubber, ink and coatings, as well as plastics. In the coming years, the tire market may still dominate. Carbon black accounts for approximately 30% of the total weight of tires. In addition, the rapid growth of the automotive industry has stimulated the consumption of tires, which is conducive to the growth of demand for carbon black.
Due to its use as a reinforcement and shock absorber in various industrial rubber products, carbon black is expected to significantly grow in the non tire rubber market. It is used in various industrial rubber products, such as shoe soles, rubber pads, rubber roofing materials, conveyor belts, gaskets, seals, hoses, cables, etc.
In recent years, the fields of new energy vehicles, new energy batteries, and new materials have developed rapidly, and the use of high-performance carbon black as a special material for green tires has gradually increased. Recycling high-performance carbon black such as carbon black, green carbon black, and conductive carbon black will become the mainstream direction of future development. In addition, carbon black can also be used as colorant, UV shielding agent, antistatic agent or conductive agent, and is widely used in many industries such as plastics, chemical fiber, ink, coatings, electronic components, leather chemicals and dry batteries. As a high-purity carbon material, carbon black can also be used in metallurgy and carbon material industries.
The carbon black industry report is a research report approved by investment decision-makers and regulatory authorities in the carbon black industry, which conducts specific investigations, research, and analysis of various factors related to the carbon black industry before engaging in investment, evaluates the feasibility and effectiveness of the project, and proposes constructive suggestions and countermeasures. The main content is to elaborate on the theoretical understanding of the carbon black industry, with a focus on studying the essence and regularity of the carbon black industry. The carbon black industry research report continues to provide high-value services, which are rare high-quality materials for enterprises to understand the latest development trends of various industries, seize market opportunities, make correct investments, and clarify the development direction of enterprises.
