Tire Carbon Black Market is Projected to Hit US$ 16,744.7 Million by 2034, Growing at a 3.9% CAGR | Fact.MR Report

The global tire carbon black market is experiencing sturdy growth with increasing vehicle production, technology improvements, and the pursuit of sustainability at its core with key developments in North America and Asia-Pacific shaping its future

/EIN News/ -- Rockville, MD , Jan. 30, 2025 (GLOBE NEWSWIRE) -- The global tire Carbon Black Market was valued at US$ 11,421.5 million in 2024 and has been forecasted to expand at a noteworthy CAGR of 3.9% to end up at US$ 16,744.7 million by 2034.

The global market for tire carbon black is driven by the production of vehicles, technology improvement, and environment-friendly manufacturing. The need for high-performance tires rises with the enhancement of the automotive sector in North America and Asia-Pacific. Electric vehicles boost the requirement of specific carbon black formulations, which increase durability and enhance tire performance. Besides, strict safety standards and consumer preference for eco-friendly products are pushing manufacturers to innovate, thus the development of bio-based carbon black alternatives.

For instance, on May 2024, Orion S.A. has invested in Alpha Carbone, a French tire recycling company, to support the scale-up of tire pyrolysis oil and recovered carbon black. The agreement encompasses a long-term supply contract, positioning Orion as the sole customer for the pyrolysis oil, which will be used to manufacture circular carbon black for the tire and rubber industries.

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Key Takeaways from Market Study:

• The tire carbon black market is projected to grow at 9% CAGR and reach US$ 16,744.7 million by 2034
• The market created an absolute $ opportunity of US$ 5,323.2 million between 2024 to 2034
• North America is a prominent region that is estimated to hold a market share of 5% in 2034
• Predominating market players include Birla Carbon, Cabot Corporation, China Synthetic Rubber Corporation (CSRC), Continental Carbon Company, Denka Company Limited, Himadri Specialty Chemical Ltd., Mitsubishi Chemical Corporation, Omsk Carbon Group, Orion Engineered Carbons S.A., Phillips Carbon Black Limited (PCBL), Ralson Goodluck Carbon, Sid Richardson Carbon & Energy Co., Tokai Carbon Co., Ltd.
• North America is expected to create an absolute $ opportunity of US$ 2,023.1 million collectively

“Increasing demand for high-performance tires, growing environmental regulations, expansion of the automotive sector, and increased emphasis on sustainable and eco-friendly production technologies will drive the market” says a Fact.MR analyst.

Leading Players Driving Innovation in the Tire Carbon Black Market:

Birla Carbon; Cabot Corporation; China Synthetic Rubber Corporation (CSRC); Continental Carbon Company; Denka Company Limited; Himadri Specialty Chemical Ltd.; Mitsubishi Chemical Corporation; Omsk Carbon Group; Orion Engineered Carbons S.A.; Phillips Carbon Black Limited (PCBL); Ralson Goodluck Carbon; Sid Richardson Carbon & Energy Co.; Tokai Carbon Co., Ltd.; Other key players

Market Development:

The tire carbon black market will undertake a strategic growth plan with focused targets. It has expansion activities in high-growth markets like China, India, and Southeast Asia, where the automotive industry is growing at a rapid rate. Also, market share gains through the launch of new, environment-friendly carbon black products will be made.

For example, on September 2024, Phillips Carbon Black Ltd plans to spend around US$ 150 million in the next two years as a way of expanding carbon black capacity. Some of these investment includes green field US$ 90 Mn at near chennai and the other US$ 35 Mn as an expansion for the special carbon product and also R&D for US$ 1 Mn. PCBL investment aims to build it to an unshakeable global position on carbon black markets.

Tire Carbon Black Industry News:

• On September 2023, Birla Carbon declared a major investment in sustainable technology to improve the production process for carbon black. The company would introduce new techniques of manufacturing with reduced carbon emission and improved energy efficiency. The move is a part of the overall commitment towards sustainability by Birla Carbon, which fits into the larger global trend toward greener manufacturing. This investment will further strengthen the company's hold in the market, as this demand for environment-friendly products increases.
• On June 2024, CSRC and Sheico will construct the biggest rCB plant in North America. It is situated in the United States, where it will be built with an annual capacity to produce 30,000 tons of rCB, 35,000 tons of tyre pyrolysis oil, and 2,300 tons of steel wire per year. This significant investment is expected to improve the recycling capacity in the region and support sustainability in the tire industry. The plant is also expected to play an important role in waste reduction and to assist the circular economy by providing good-quality recovered material for various applications.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the The tire carbon black market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights on the basis of the product types (Thermal Black, Furnace Black, Channel Black, Acetylene Black, Lamp Black), Function (Reinforcement, Pigmentation, Conductivity), Tire Type (Passenger Car Tires, Commercial Vehicle Tires, Two-Wheeler Tires, Off-The-Road (OTR) Tires, Specialty Tires), Grade (Standard Grade, High-Performance Grade, Specialty Grade), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

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