Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Specialty Carbon Black Market size was valued at USD 3.1 billion in 2024 and is expected to reach USD 11.1 billion by the end of 2037, growing at a CAGR of 10.9% during the forecast period from 2025-2037. In 2025, the industry size of specialty carbon blacks is estimated at USD 3.3 billion.
The versatility of specialty carbon black drives its applications in several sectors, including electronics and aerospace. The battery manufacturers are leading the sales of specialty carbon black solutions due to their high importance in energy storage system production. According to the U.S. Department of Energy's Critical Minerals and Materials Program, carbon black is identified as a critical material for energy technologies. This directly boost consumption in the transmission, storage, and conservation of energy.
The steady supply of raw materials such as oil and natural gas feedstocks is likely to register healthy growth in the sales of specialty carbon black. The U.S. Bureau of Labor Statistics estimates that the producer price index for carbon black measures the average change in selling prices owing to the strong presence of domestic producers in every region. The consumer price index is influenced by the recent market trend and demand. The widespread application of specialty carbon black is expected to double the revenues of key players in the years ahead.
Specialty Carbon Black Sector: Growth Drivers and Challenges
Growth Drivers
- Rising traction of electric vehicles: The swift rise in the adoption of electric vehicles across the globe is anticipated to fuel the sales of specialty carbon black solutions in the coming years. According to the International Energy Agency (IEA), by 2030, the sales of EVs are expected to cross 20.2 million. This highlights that the trade of EVs is projected to directly influence the consumption of specialty carbon black. EV battery manufacturers are increasingly using specialty carbon black in lithium-ion battery conductive additives to improve conductivity and lifespan.
- Growth in the paints and coatings industry: The paints and coatings are widely demanded by the automotive, construction, and electronics companies. Specialty carbon black is used in paints and coatings for UV protection and pigmentation. The global industrial coatings market is expected to increase at a CAGR of 5.8% through 2030. The booming sales of paints and coatings are set to augment the consumption of specialty carbon black in the years ahead.
Value Of Shipments By Country
The U.S. is expected to register steady demand for specialty carbon black due to its advanced R&D infrastructure and supportive government policies. China, the leading chemical manufacturer, is anticipated to lead the sales of specialty carbon black owing to rapid industrialization and urbanization activities. EU countries, including Germany, focus on sustainable chemical innovation and high-performance materials. Leading companies are concentrated on R&D and product customization to strengthen their market positions. The automotive and conductive plastics sectors mainly offer them high-earning opportunities.
Market Volume and Growth Trends (2023–2031)
|
Region/Country |
2023 Market Insights |
Growth Projections |
Growth Drivers |
|
Global |
USD 2.78 billion |
USD 4.3 billion by 2031 |
Packaging, plastics, electronics, and automotive |
|
United States |
High demand from the automotive & electronics sectors |
Stable growth driven by R&D and regulatory compliance |
Next-gen manufacturing, sustainability initiatives |
|
China |
World’s largest chemicals market |
Swift growth due to industrialization and urbanization |
Auto sector, capacity expansions |
|
Germany |
Emphasis on high-performance materials |
Modest growth due to eco-regulations |
Automotive, innovation in sustainable additives |
|
India |
Shipment growth of 8.7% in 2022 |
Rapid growth through 2028 due to industrial expansion |
Packaging & film industry boom |
|
Southeast Asia |
Swift infrastructure and energy sector expansion |
CAGR: 6.9% through 2028 |
Industrial growth, favorable trade policies |
Competitive Landscape and Strategic Positioning (Top Exporters & Strategies)
|
Company |
Headquarters |
Market Strategy |
Key Initiative |
|
Cabot Corporation |
U.S. |
R&D, product customization |
Improved engineered blacks for automotive and conductive plastics |
|
Orion Engineered Carbons |
Luxembourg |
Capacity expansion in Asia-Pacific |
Built a 66kt capacity facility in China to meet regional demand |
|
Birla Carbon |
India |
Emphasis on sustainability and partnerships |
Announced the circular economy roadmap and sustainable black products |
|
Philips Carbon Black |
India |
Production optimization and global expansion |
High export footprint and domestic investments |
|
Himadri Speciality |
India |
Integrated carbon value chain |
Forward-integrated operations with a focus on battery materials |
|
BASF |
Germany |
Vertical integration in China |
USD 10.3B Verbund site in Zhanjiang, Guangdong for specialty chemicals |
|
Dow Chemical |
U.S. |
Sustainable innovation in packaging |
REVOLOOP recycled plastic resins and partnerships in circular economy initiatives |
Emerging Trade Dynamics & Market Outlook
The global events and evolving trade patterns influenced the sales of specialty carbon black between 2019 to 2024. The COVID-19 pandemic significantly hampered the trade of specialty carbon black. The recovery was observed late 2021 and early 2022 phase. Asia Pacific has led the specialty carbon black trade since then, owing to strategic industrial policies and competitive production costs.
Import & Export Data (2019-2024)
|
Year |
Country |
Exports ($ Billion) |
Imports ($ Billion) |
Key Trade Partners |
|
2019 |
U.S. |
136.5 |
102.4 |
EU, China, Canada |
|
2020 |
U.S. |
124.4 |
96.2 |
EU, China, Canada |
|
2021 |
U.S. |
134.7 |
105.4 |
EU, China, Canada |
|
2022 |
Japan |
- |
- |
China, South Korea |
|
2023 |
Germany |
- |
- |
EU countries, U.S. |
|
2024 |
China |
- |
- |
ASEAN, EU, U.S. |
Japan Specialty Carbon Black Industry
Technological advancements and a shift towards high-performance materials and chemicals are fueling the sales of specialty carbon black in Japan. The versatility of specialty carbon black is fueling its application in semiconductors and electric vehicles. The strong presence of end users and key manufacturers is set to register high trade of specialty carbon black in the country. The supportive government policies and expansion of chemical firms are also contributing to the overall market growth.
Composition of Japan's Chemical Product Shipments (2018–2022)
|
Year |
Petrochemicals |
Polymers |
Specialty Chemicals |
Others |
|
2018 |
45.4% |
30.2% |
20.0% |
5.5% |
|
2019 |
44.3% |
31.8% |
21.5% |
4.0% |
|
2020 |
43.5% |
32.3% |
21.2% |
4.3% |
|
2021 |
42.6% |
33.5% |
21.3% |
4.2% |
|
2022 |
41.1% |
34.4% |
21.1% |
4.5% |
Value of Chemical Shipments by Manufacturing Industry (2018–2023)
|
Industry |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Automotive |
¥2.1T |
¥2.5T |
¥2.5T |
¥2.8T |
¥2.9T |
¥3.3T |
|
Electronics |
¥1.3T |
¥1.4T |
¥1.6T |
¥1.6T |
¥1.8T |
¥2.2T |
|
Pharmaceuticals |
¥1.4T |
¥1.4T |
¥1.3T |
¥1.5T |
¥1.5T |
¥1.5T |
R&D Expenses and Capital Investment Trends
|
Company |
R&D Spending (2022) |
Focus Areas |
|
Mitsubishi Chemical |
¥150.4B |
Bioplastics, sustainable materials |
|
Shin-Etsu Chemical |
¥100.3B |
Semiconductor materials, digitalization |
|
Sumitomo Chemical |
¥90.5B |
Green chemistry, process innovation |
Challenges
- Strict safety standards: The strict safety standards are expected to limit the adoption of specialty carbon black solutions in the coming years. From October 2025, China is set to update its national standards GB 12268-2025 and GB 6944-2025. The continuously evolving regulations necessitate specialty carbon black manufacturers to adapt their safety protocols. This directly delays the product launches and hampers the revenue growth of key players.
- High compliance costs for SME: The strict environmental regulations are hampering the sales of specialty carbon black solutions. The varying policies are challenging new market entries and the expansion of small companies. In the U.S., industry groups estimate that compliance with new EPA air pollution rules is projected to surpass USD 50.5 billion. Such high compliance costs are directly hampering the growth of small and medium enterprises and their ability to compete.
Specialty Carbon Black Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.9% |
|
Base Year Market Size (2024) |
USD 3.1 billion |
|
Forecast Year Market Size (2037) |
USD 11.1 billion |
|
Regional Scope |
|
Specialty Carbon Black Segmentation
Application (Automotive, Consumer Goods, Electronics, Industrial, Packaging)
The automotive segment is projected to hold 39.4% of the global specialty carbon black market share throughout the forecast period. Specialty carbon black solutions are widely demanded for the production of tire treads, inner liners, and under-the-hood components. The need for advanced UV protection is fueling the application of specialty carbon black in automotive manufacturing. According to the U.S. Department of Energy study, continuous investments in EV technology and infrastructure are projected to fuel long-term demand for specialty carbon black. This highlights that the growing adoption of electric vehicles is anticipated to accelerate the consumption of specialty carbon black in batteries.
Type (Conductive Carbon Black, Fiber Grade, Food Contact Grade, Others)
The conductive carbon black segment is poised to capture 30.5% of the global market share by 2037. The conductive carbon black solutions are being widely applied in energy storage systems. Lithium-ion batteries and electronic packaging are expected to lead the sales of conductive carbon black in the years ahead. The National Renewable Energy Laboratory states that conductive additives such as carbon black are essential for enhancing battery efficiency and lifespan. This encourages manufacturers to invest in conductive carbon black for innovation. Furthermore, the miniaturization trend is expected to fuel the application of high-performance conductive carbon black in consumer electronics.
Our in-depth analysis of the specialty carbon black market includes the following segments:
|
Type |
|
|
Application |
|
|
Process |
|
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Customize this ReportSpecialty Carbon Black Industry - Regional Scope
APAC Market Forecast
The Asia Pacific specialty carbon black market is projected to account for 48.1% of the global revenue share through 2037. The swift rise in industrial and urban activities is propelling the sales of specialty carbon black solutions. The supportive government policies aimed at promoting sustainable chemical manufacturing are expected to increase the demand for carbon recycling technologies. Moreover, the strong presence of end users is expected to contribute to the increasing sales of specialty carbon black.
China is expected to lead the sales of specialty carbon black solutions during the study period. The gigantic chemical manufacturing base is supporting the increasing consumption of specialty carbon black. The fueling demand for high-performance materials and chemicals is propelling the demand for specialty carbon black in the automotive and electronics sectors. The country’s Five-Year Plan is also projected to double the revenues of specialty carbon black manufacturers in the coming years.
Sales of specialty carbon black in India are expected to increase at a high pace during the forecast period. The swiftly expanding chemical and petrochemical trade is set to accelerate the consumption of specialty carbon black in the coming years. The Department of Chemicals and Petrochemicals, under the Ministry of Chemicals and Fertilizers, is actively engaged in promoting the production of specialty chemicals. This move is drawing the attention of foreign investors. Furthermore, the favorable government policies and positive foreign direct investments are set to double the revenues of specialty carbon black producers in the years ahead.
North America Market Statistics
The North America specialty carbon black market is estimated to increase at a CAGR of 7.1% from 2025 to 2037. The robust advancements in the automotive and electronics sectors are fueling the sales of specialty carbon black solutions. The increasing demand for high-performance chemicals and materials is opening profitable doors for specialty carbon black manufacturers. The supportive government policies and funding are also aimed at doubling the revenue of specialty carbon black companies in the years ahead.
The U.S. specialty carbon black market is foreseen to reach a valuation of USD 2.8 billion by the end of 2037. The growth in automotive and industrial activities is expected to fuel the demand for specialty carbon black solutions. The sustainable manufacturing practices are likely to drive innovations in specialty carbon black. In 2023, the Environmental Protection Agency’s (EPA) Green Chemistry program led to the adoption of more than 49 new sustainable chemical processes. This highlights that the recycling carbon trends are expected to drive the specialty carbon black sales in the coming years.
The Canada specialty carbon black market is estimated to be valued at USD 1.1 billion during the forecast period. The country’s strong focus on clean energy production and climate commitments is set to accelerate innovations in carbon recycling technologies. This factor is poised to fuel the demand for recycled specialty carbon black solutions in the coming years. The automotive and electronics sectors are also increasing the consumption of specialty carbon black solutions. In FY 2022-2023, the government's spending on environmental protection and sustainable development increased significantly. This directly supports the expansion of specialty carbon black in the country.
Companies Dominating the Specialty Carbon Black Landscape:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The leading companies in the specialty carbon black market are employing several organic and inorganic strategies such as new product launches, technological innovations, and partnerships & collaborations to maximize their revenue shares and reach. Industry giants are strategically collaborating with end users to boost their direct revenue segments. Furthermore, key players are employing mergers, acquisitions, and capacity expansions strategies to boost their position in the global landscape. The organic sales are projected to offer double-digit percent revenue-generating opportunities for leading companies in the coming years.
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Orion Engineered Carbons S.A. |
Germany |
14.6% |
|
Cabot Corporation |
USA |
13.9% |
|
Birla Carbon |
India |
11.8% |
|
Phillips Carbon Black Limited (PCBL) |
India |
6.1% |
|
Himadri Speciality Chemical Ltd |
India |
4.5% |
|
Imerys Graphite & Carbon |
France |
xx% |
|
OMSK Carbon Group |
Russia |
xx% |
|
China Synthetic Rubber Corporation (CSRC) |
Taiwan |
xx% |
|
Denka Performance Elastomer |
USA |
xx% |
|
Korea Carbon Black Co., Ltd. |
South Korea |
xx% |
|
CS Additive GmbH |
Germany |
xx% |
|
Orion Engineered Carbons S.A. |
Germany |
xx% |
|
Cabot Corporation |
USA |
xx% |
|
Birla Carbon |
India |
xx% |
|
Phillips Carbon Black Limited (PCBL) |
India |
xx% |
Below are the areas covered for each company in the specialty carbon black market:
In the News
- In April 2024, Himadri Speciality Chemical Ltd revealed the investment of around USD 2.7 billion for the expansion of its specialty carbon black capacity in Singur, West Bengal. This is set to increase the company’s annual production by 70,000 tonnes.
- In January 2024, Birla Carbon announced the expansion of its carbon black capacity by over 240 kilotons in India and Thailand. This move was executed by the company to meet the increasing demand from the APAC plastics and coatings sectors.
Author Credits: Rajrani Baghel
- Report ID: 4366
- Published Date: Jun 03, 2025
- Report Format: PDF, PPT
