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Vietnam Carbon Black Market

Vietnam Carbon Black Market

Vietnam Carbon Black Market, By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black, Lamp Black); By Grade (Standard Grade, Specialty Grade); By Application (Tires, Rubber Types, Paints & Coatings, Inks & Toners, Electronics & Batteries); By End User (Automotive, Industrial, Consumer Goods, Electronics, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2031

  • Published Date: January 2025
  • Report ID: BWC25061
  • Available Format: PDF
  • Page: 121

Report Overview

Rapid industrialization and automotive production driving the demand for rubber and tires, growing manufacturing sector, and adoption of sustainability initiatives are expected to drive Vietnam Carbon Black Market during the forecast period between 2025 and 2031.

Vietnam Carbon Black Market – Industry Trends & Forecast Report, 2031

Vietnam Carbon Black Market size was estimated at USD 250.1 million in 2024. During the forecast period between 2025 and 2031, Vietnam Carbon Black Market size is projected to grow at a CAGR of 8.70% reaching a value of USD 442.6 million by 2031. The Carbon Black Market in Vietnam is driven by industrialization, automotive production, rubber and tire demand, manufacturing growth, sustainability initiatives, and environmental regulations. The expanding automotive sector requires carbon black for tire production, while the growing manufacturing industry boosts demand for rubber and plastic products. Additionally, Vietnam's commitment to sustainability and reducing carbon emissions is fostering innovations in carbon black production methods.

Vietnam Carbon Black Market

Carbon Black – Overview

Carbon black is a fine, black powder composed primarily of elemental carbon. Produced by the incomplete combustion of heavy petroleum products like coal tar and ethylene cracking tar, it has a high surface-area-to-volume ratio. Carbon black is widely used as a reinforcing filler in tires and rubber products, enhancing durability and performance. Additionally, carbon black is employed as a pigment in plastics, paints, and inks. Its high electrical conductivity makes it valuable in lithium-ion batteries, and its absorbent properties are utilized in radar absorbent materials and other applications. Environmental regulations and sustainability efforts are influencing its production and usage.

Vietnam Carbon Black Market

Growth Drivers

Increasing Applications of Polyamide in Electrical and Electronics Industries

The increasing applications of polyamide in Vietnam's electrical and electronics industries significantly boost the growth of carbon black market. Polyamide's versatility and durability make it ideal for producing components like flexible circuitry and robust wiring. The growing demand for high-performance materials in these industries drives the need for carbon black, enhancing product longevity and performance.

Challenges

Volatility in Raw Material Prices

Volatility in raw material prices poses a significant restraint on the growth of Vietnam Carbon Black Market. The production of carbon black relies heavily on feedstock like crude oil and natural gas. Variations in these prices can lead to unstable production costs, affecting profitability and market growth. Additionally, economic factors and supply chain disruptions can exacerbate these fluctuations, making it challenging for manufacturers to maintain consistent pricing and output levels.

Impact of Escalating Geopolitical Tensions on Vietnam Carbon Black Market

Intensifying geopolitical tensions among countries and further spreading across the regions could significantly impact the growth of Vietnam Carbon Black Market. Political, economic, military, and trade tensions could lead to supply chain disruptions, volatility in crude oil prices, and uncertainty in trade relations. Such instability could affect the production costs and availability of raw materials, ultimately hindering market growth. Additionally, geopolitical conflicts could deter foreign investments and partnerships, further constraining the expansion of Vietnam Carbon Black Market.

Vietnam Carbon Black Market

Segmental Coverage

Vietnam Carbon Black Market – By Type

Based on type, Vietnam Carbon Black Market is divided into Furnace Black, Channel Black, Thermal Black, Acetylene Black, Lamp Black, and other types segments. The furnace black segment is the largest type in Vietnam Carbon Black Market, due to its extensive use in manufacturing rubber products, especially tires, which are integral to Vietnam's growing automotive industry. The country's manufacturing sector, particularly in rubber and tire production, heavily relies on carbon black, further emphasizing the significance of the furnace black segment.

Vietnam Carbon Black Market Size

Vietnam Carbon Black Market – By Grade

Vietnam Carbon Black Market by grade is split into Standard Grade and Specialty Grade segments. The standard grade segment emerges as a larger grade than that of specialty grade in Vietnam Carbon Black Market. Standard grade black carbon is widely used in tire manufacturing, which dominates the demand for carbon black due to Vietnam's growing automotive and transportation industries. Standard grade carbon black is also integral to producing industrial rubber products, including belts, hoses, and gaskets, further driving its prominence. Its cost effectiveness, superior reinforcing properties, and extensive application in traditional rubber and plastic industries make it the preferred choice. Meanwhile, the specialty grade segment caters to niche markets like coatings, inks, and advanced polymers, experiencing steady but comparatively lower demand.

Vietnam Carbon Black Market – By Application

Based on application, Vietnam Carbon Black Market is divided into Tire, Non-tire Rubber, Plastics, Inks & Coatings, and other application segments. The tire segment holds the largest share of Vietnam Carbon Black Market by application. Carbon black is a critical ingredient in tire manufacturing, enhancing the strength, durability, and performance of tires. It serves as a reinforcing agent and provides resistance to wear and abrasion, making it essential for the production of passenger cars, trucks, and industrial tires. Vietnam's growing automotive industry and increasing demand for vehicles drive the dominance of this segment. Additionally, the expanding export of tires from Vietnam to international markets further bolsters the demand for carbon black in tire production, solidifying its position as the leading segment.

Vietnam Carbon Black Market Share

Vietnam Carbon Black Market – By End User

On the basis of end user, Vietnam Carbon Black Market is divided into Automotive, Industrial, Consumer Goods, Electronics, and other end users segments. The automotive segment is the largest end user in Vietnam Carbon Black Market, due to an increasing demand for carbon black in tire manufacturing, a critical component for enhancing tire durability, strength, and performance. The growing automotive industry in Vietnam, supported by rising vehicle production and ownership rates, further fuels this segment’s expansion. Additionally, carbon black is widely used in automotive rubber parts like belts, hoses, and seals, which are essential for vehicle functionality. The segment benefits from the industry's focus on high-quality materials to meet global standards and cater to both domestic and export markets.

Competitive Landscape

Major companies operating in Vietnam Carbon Black Market include Cabot Corporation, Phillips Carbon Black Vietnam Joint Stock Company, Vietnam National Chemical Corporation, Orion Engineered Carbons, Birla Carbon, and Binh Son Petrochemical Refinery Company Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2031

Base Year – 2024

Estimated Year – 2025

Forecast Period – 2025–2031

Facts Covered

Revenue in USD Million

Market Coverage

Vietnam  

Product/ Service Segmentation

Type, Grade, Application, End User

Key Players

Cabot Corporation, Phillips Carbon Black Vietnam Joint Stock Company, Vietnam National Chemical Corporation, Orion Engineered Carbons, Birla Carbon, Vietnam National Chemical Corporation, Binh Son Petrochemical Refinery Company Limited

 

By Type

  • Furnace Black

  • Channel Black

  • Thermal Black

  • Acetylene Black

  • Lamp Black

By Grade

  • Standard Grade

  • Specialty Grade

By Application    

  • Tires

  • Rubber Types

  • Paints & Coatings

  • Inks & Toners

  • Electronics & Batteries

By End User

  • Automotive

  • Industrial

  • Consumer Goods

  • Electronics

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Vietnam Carbon Black Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growth in the automotive sector
        2. Increasing applications of polyamide in electrical and electronics industries
        3. Rising investments in infrastructure and construction projects
      2. Restraints
        1. Volatility in raw material prices
        2. Competition from alternative materials like polypropylene and polycarbonate
      3. Opportunities
        1. Advancements in bio-based and recycled polyamide Typeion technologies
        2. Growing demand for high-performance engineering plastics
      4. Challenges
        1. Dependency on imports for raw materials and advanced technologies.
        2. Environmental concerns regarding polyamide manufacturing processes
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Vietnam Carbon Black Market: Marketing Strategies
  5. Vietnam Carbon Black Market: Pricing Analysis
  6. Vietnam Carbon Black Market Overview
    1. Market Size & Forecast, 2019–2031
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
        1. Furnace Black
        2. Channel Black
        3. Thermal Black
        4. Acetylene Black
        5. Lamp Black
      2. By Grade
        1. Standard Grade
        2. Specialty Grade
      3. By Application    
        1. Tires
        2. Rubber Types
        3. Paints & Coatings
        4. Inks & Toners
        5. Electronics & Batteries
      4. By End User
        1. Automotive
        2. Industrial
        3. Consumer Goods
        4. Electronics
        5. Others
  7. Competitive Landscape
    1. List of Key Players and Their End Users
    2. Vietnam Carbon Black Company Market Share Analysis, 2024
    3. Competitive Benchmarking, By Oping Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
  8. Impact of Escalating Geopolitical Tensions on Vietnam Carbon Black Market
  9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Cabot Corporation
    2. Phillips Carbon Black Vietnam Joint Stock Company
    3. Vietnam National Chemical Corporation
    4. Orion Engineered Carbons
    5. Birla Carbon
    6. Vietnam National Chemical Corporation
    7. Binh Son Petrochemical Refinery Company Limited
    8. Other Prominent Players
  10. Key Strategic Recommendations
  11. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

 

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1   Vietnam Carbon Black Market Segmentation

Figure 2   Vietnam Carbon Black Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2024

Figure 4   Vietnam Carbon Black Market Size, By Value (USD Million), 2019–2031

Figure 5   Vietnam Carbon Black Market Size, By Volume (Million Tons), 2019–2031

Figure 6   Vietnam Carbon Black Market Share, By Type, By Value (USD Million) 2019–2031

Figure 7   Vietnam Carbon Black Market Share, By Type, By Volume (Million Tons), 2019–2031

Figure 8   Vietnam Carbon Black Market Share, By Grade, By Value (USD Million) 2019–2031

Figure 9   Vietnam Carbon Black Market Share, By Grade, By Volume (Million Tons), 2019–2031

Figure 10    Vietnam Carbon Black Market Share, By Application, By Value (USD Million) 2019–2031

Figure 11    Vietnam Carbon Black Market Share, By Application, By Volume (Million Tons), 2019–2031

Figure 12    Vietnam Carbon Black Market Share, By End User, By Value (USD Million) 2019–2031

Figure 13    Vietnam Carbon Black Market Share, By End User, By Volume (Million Tons), 2019–2031

 

List of Tables

 

Table 1      Vietnam Carbon Black Market Size, By Value (USD Million), 2019–2031

Table 2      Vietnam Carbon Black Market Size, By Volume (Million Tons), 2019–2031

Table 3      Vietnam Carbon Black Market Share, By Type, By Value (USD Million) 2019–2031

Table 4      Vietnam Carbon Black Market Share, By Type, By Volume (Million Tons), 2019–2031

Table 5      Vietnam Carbon Black Market Share, By Grade, By Value (USD Million) 2019–2031

Table 6      Vietnam Carbon Black Market Share, By Grade, By Volume (Million Tons), 2019–2031

Table 7      Vietnam Carbon Black Market Share, By Application, By Value (USD Million) 2019–2031

Table 8      Vietnam Carbon Black Market Share, By Application, By Volume (Million Tons), 2019–2031

Table 9      Vietnam Carbon Black Market Share, By End User, By Value (USD Million) 2019–2031

Table 10    Vietnam Carbon Black Market Share, By End User, By Volume (Million Tons), 2019–2031

Table 11    Cabot Corporation Company Overview

Table 12    Cabot Corporation Financial Overview

Table 13    Phillips Carbon Black Vietnam Joint Stock Company: Company Overview

Table 14    Phillips Carbon Black Vietnam Joint Stock Company Financial Overview

Table 15    Vietnam National Chemical Corporation Company Overview

Table 16    Vietnam National Chemical Corporation Financial Overview

Table 17    Orion Engineered Carbons Company Overview

Table 18    Orion Engineered Carbons Financial Overview

Table 19    Birla Carbon Company Overview

Table 20    Birla Carbon Financial Overview

Table 21    Vietnam National Chemical Corporation Company Overview

Table 22    Vietnam National Chemical Corporation Financial Overview

Table 23    Binh Son Petrochemical Refinery Company Limited Company Overview

Table 24    Binh Son Petrochemical Refinery Company Limited Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Vietnam Carbon Black Market size by value was estimated at USD 250.1 million in 2024.
Ans: Vietnam Carbon Black Market is expected to grow at a CAGR of 8.70% during the forecast period between 2025 and 2031.
Ans: By 2031, Vietnam Carbon Black Market size is forecast to reach a value of USD 442.6 million.
Ans: The growth of Vietnam Carbon Black Market is primarily driven by industrialization, automotive production, rubber and tire demand, manufacturing growth, and sustainability initiatives.
Ans: Key players in Vietnam Carbon Black Market include Cabot Corporation, Phillips Carbon Black Vietnam Joint Stock Company, Vietnam National Chemical Corporation, Orion Engineered Carbons, Birla Carbon, and Binh Son Petrochemical Refinery Company Limited.
Ans: The automotive segment is expected to grow at the fastest CAGR in Vietnam Carbon Black Market by end user during the forecast period between 2025 and 2031.
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