Vietnam Carbon Black Market Assessment, By Type [Furnace Black, Acetylene Black, Thermal Black, Channel Black, Others], By Functionality [Tire improvement, Conductivity, Surface enhancement, Others], By Application [Tire, Footwear, Belts, Tubes and hoses, Extruded profiles, Printing Inks, Battery electrodes, Others], By End-use [Textile, Automotive, Construction, Manufacturing, Plastics, Others], By Region, Opportunities and Forecast, 2016-2030F

Vietnam Carbon Black Market size was valued at USD 210.27 million in 2022 which is expected to reach USD 389.48 million in 2030 with a CAGR of 8.01% for the forecast period between 2023 and 2030.

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Vietnam Carbon Black Market size was valued at USD 210.27 million in 2022 which is expected to reach USD 389.48 million in 2030 with a CAGR of 8.01% for the forecast period between 2023 and 2030. The automobile industry is the largest consumer of carbon black. The sales of automobiles are growing due to an increase in disposable income across the middle-class population in Vietnam. Thus, with the rise in sales of cars, the requirement for tire replacement rates is increasing which is in turn expected to drive the carbon black market. Additionally, the nation is undertaking large infrastructure projects, such as bridge development and road building among others. These activities require huge amounts of supplies like asphalt and concrete, both of which utilizes carbon black.  

Carbon black is a key component in the manufacturing of rubber goods, and Vietnam is one of the world's top producers of natural rubber. Carbon black has a reinforcing effect on rubber, making it stronger, more resistant to wear, and more durable. According to the Vietnam Rubber Industry Group (VRG), Vietnam's output of rubber increased by 7% from 2021 to 2022, reaching 429,852 tons in 2022. The demand for carbon black rises in the country as the rubber industry expands owing to the demand from both the domestic and export sector. The expansion of the manufacturing industry in the country further fuels Vietnam's demand for carbon black. Carbon black is utilized in manufacturing products across several sectors such as plastics, coatings, inks, and pigments. As manufacturing activities grow and diversify, carbon black is witnessing significant demand in Vietnam carbon black market.

Rising Renewable Energy Projects

The construction and maintenance of Vietnam's renewable energy projects, including wind farms and solar power plants, require durable and weather-resistant materials. Rubber seals, gaskets, and rotors among others are some of the renewable energy infrastructure components that benefit from the reinforcing qualities of carbon black to increase their toughness and resistance to the elements. As a result, when renewable energy project increases, so does the demand for carbon black.

Vietnam has put in various strategies to improve its power sector. Vietnam has made plans to move away from the coal usage sector while increasing opportunities for wind and gas energy sector.  Vietnam aims to secure its energy supply through Power Development Plan 8 (PDP8) by 2030, targeting a minimum of 30.9% renewable energy consumption by that year.

Thus, owing to the usage and government approvals of renewable energy projects and the need to meet its objectives, the demand for carbon black is expected to increase in the Vietnamese market.

Strong Infrastructure Developments

In asphalt and concrete formulations, carbon black is used to increase the strength and durability of infrastructure projects. The demand for construction materials containing carbon black is driven by ongoing infrastructure investments in Vietnam, which include projects for roads, bridges, and urban development.

For instance, several large-scale transportation infrastructure projects got sanctioned in Vietnam during 2023. Vietnam's transportation department is expected to develop its North-South Expressway, between 2021 and 2025. The 121 km Dong Dang - Tra Linh Expressway, the 76 km Ring Road 3 project, the Tan Phu to Bao Loc Expressway, the Chau Doc - Can Tho - Soc Trang Expressway and the Bao Loc to Lien Khuong Expressway are some of the major Vietnamese construction initiatives, which is likely to contribute to the Carbon Black demand in the country.

Increasing Electrical Manufacturing

Vietnam's strategic emphasis on expanding its export capacities and developing its manufacturing sector, especially the Electrical industry has a direct impact on the country’s carbon black market. The development of export-focused industries and the expansion of manufacturing activities both necessitate a steady supply of carbon black, which in turn increases demand.

One-third of all exports from Vietnam are now made up of electronics, which have steadily increased year over year. With exports of electronics reaching more than USD 108 billion in 2021, according to the International Labours Organization (ILO). The electronics and electrical sector in Vietnam are expanding quickly due to the rising demand for consumer electronics, smartphones, and electrical appliances, the expansion of electronic manufacturing in Vietnam is also a major factor driving up the demand for Carbon Black.

Improving Tyre Market

As rising disposable incomes and improved road systems in Vietnam contribute to increasing demand for vehicles, the frequency of tyre replacement has surged. This, coupled with a growing middle-class population, has led to a significant sales hike. Consequently, there is a corresponding surge in demand for carbon black, an essential component in tyre manufacturing.

For instance, in October 2022, South Korea-based industrial material and chemical manufacturer Kolon expanded its tyre cord facility in Vietnam. Due to this expansion, the facility capacity increased to 19,200 metric tons per year from 16,800 metric tons per year to meet the growing demand for tyres in Vietnam. Thus, the capacity expansion for tyre production in Vietnam is further expected to drive the carbon black market in Vietnam.

Impact of COVID-19

One of the nations where COVID-19 had a protracted and damaging effect was China. Vietnam greatly depends on China for its carbon black imports. Therefore, China imposing lockdowns on its major manufacturers and ports due to COVID-19 led to production cuts or halts in China which significantly impacted the supply of carbon black in Vietnam. On the demand side, the construction sector, and the automotive sector, both crucial consumers of carbon black experienced a slowdown due to numerous projects being postponed or delayed, ultimately decreasing the demand for carbon black in Vietnam.

Impact of Russia-Ukraine War

Since Vietnam is highly reliant on Asian nations for carbon black the ongoing conflict between Russia and Ukraine has little impact on the market for carbon black in Vietnam. However, Russia being one of the largest exporters of upstream crude oil along with several bans placed on Russian imports by various nations during the war have tightened the supply scenario of carbon black in Vietnam. Geopolitical uncertainty may have a negative impact on confidence among foreign investors in the Vietnamese carbon black market which may lead to cautious business decisions and even the postponement of investment plans. Owing to these factors the growth and expansion could be hindered for the Vietnam Carbon Black market.

Vietnam Carbon Black Market: Report Scope

“Vietnam Black Market Assessment, Opportunities and Forecast, 2016-2030F”, is a comprehensive report by Market Xcel, providing in-depth analysis and qualitative & quantitative assessment of the current state of the Carbon Black market in Vietnam, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities and forecast between 2023 and 2030. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute

Details

Base Year of the Analysis

2022

Historical Period

2016-2021

Forecast Period

2023-2030

Projected Growth Rate

CAGR of 8.01% between 2023 and 2030

Revenue Forecast in 2030

USD 389.48 million

Units

Revenue in USD million

Segments Covered

Type, Functionality, Application and End-user

Regions Covered

Northern, Central and Southern.

Key Companies Profiled

Cabot Corporation, Phillips Carbon Black Vietnam Joint Stock Company, Birla Carbon (Thailand) Public Company Limited, Vietnam National Chemical Corporation, Binh Son Petrochemical Refinery Company Limited, Orion Engineered Carbons, Jiangxi Black Cat Carbon Black Co., Ltd, Tokai Carbon Co., Ltd, Himadri Speciality Chemical Limited, Evonik Vietnam LLC.

Customization Scope

15% free report customization with purchase

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

 

In this report, Vietnam Carbon Black Market has been segmented into the following categories: 

1.       By Type

1.1.    Furnace Black

1.2.    Acetylene Black

1.3.    Thermal Black

1.4.    Channel Black

1.5.    Others

2.       By Functionality 

2.1.    Tire improvement 

2.2.    Conductivity  

2.3.    Surface enhancement 

2.4.    Others 

3.       By Application

3.1.    Tyre 

3.2.    Footwear

3.3.    Belts 

3.4.    Tubes and hoses 

3.5.    Extruded profiles 

3.6.    Printing Inks 

3.7.    Battery electrodes 

3.8.    Others  

4.       By End-user 

4.1.    Textile 

4.2.    Automotive 

4.2.1.Passenger Cars (PCs)

4.2.2.Light Commercial Vehicles (LCVs)

4.2.3.Heavy Commercial Vehicle (HCVs)

4.2.4.Others

4.3.    Construction 

4.3.1.Residential

4.3.2.Commercial

4.3.3.Industrial

4.4.    Manufacturing 

4.4.1.Electrical 

4.4.2.Auto parts 

4.4.3.Colorants 

4.4.4.Rubber goods 

4.4.5.Others

4.5.    Plastics 

4.6.    Others

5.       By Region  

5.1.    Northern

5.2.    Central

5.3.    Southern

Key Players Landscape and Outlook

Since the Vietnam market is likely to witness increased demand due to the rising automotive sales have led to key players rising their capacity in Vietnam to cater to the growing demand.

For instance, The Dung Quat refinery of Vietnam's Binh Son Refining and Petrochemical (BSR.HNO) is being upgraded and expanded as part of a USD 1.2 billion plan started in 2022, increasing its processing capacity from 6.5 million tonnes of crude oil annually to 7.6 million tonnes.

The country's expanding automotive industry, rising manufacturing activity, and several infrastructure developments all contribute to the positive outlook for Vietnam's carbon black market. Due to its strategic geographic location and emphasis on industrialization, Vietnam offers opportunities for carbon black manufacturers to satisfy both domestic and export demand. The outlook for the carbon black market in Vietnam is further driven by the government's support for the domestic manufacturing sector.

Key Players Operating in Vietnam Carbon Black Market are:

·         Cabot Corporation

·         Phillips Carbon Black Vietnam Joint Stock Company 

·         Birla Carbon (Thailand) Public Company Limited

·         Vietnam National Chemical Corporation

·         Binh Son Petrochemical Refinery Company Limited

·         Orion Engineered Carbons

·         Jiangxi Black Cat Carbon Black Co., Ltd

·         Tokai Carbon Co., Ltd

·         Himadri Speciality Chemical Limited

·         Evonik Vietnam LLC

Markets and Data’s reports answer the following questions:

•    What is the current and future market size of the product/service in question globally or specific to different countries?
•    How are the markets divided into different product/service segments and the market size and growth of each segment? 
•    What is the market potential of different product segments and their investment case?
•    How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
•    What is the business environment and regulatory landscape specific to the product/service?

If you can't find what you're searching for or have any custom requirements for Vietnam carbon black market, you may approach our team at report@market-xcel.com

Table of Contents

1.       Research Methodology

2.       Project Scope & Definitions

3.       Impact of COVID-19 on Vietnam Carbon Black Market

4.       Impact of Russia-Ukraine War

5.       Executive Summary

6.       Voice of Customer

6.1.    Market Awareness and Product Information

6.2.    Brand Awareness and Loyalty

6.3.    Factors Considered in Purchase Decision

6.3.1.Brand Name

6.3.2.Quality/Grade

6.3.3.Pricing

6.3.4.Quantity

6.3.5.Price

6.3.6.Product Specification

6.3.7.Ease of Use

6.3.8.Packaging/Supply Form

6.4.    Frequency of Purchase

6.5.    Medium of Purchase

7.       Vietnam Carbon Black Market Outlook, 2016-2030F

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    By Type

7.2.1.Furnace Black

7.2.2.Acetylene Black

7.2.3.Thermal Black

7.2.4.Channel Black

7.2.5.Others

7.3.    By Functionality  

7.3.1.Tire improvement  

7.3.2.Conductivity   

7.3.3.Surface enhancement  

7.3.4.Others  

7.4.    By Application 

7.4.1.Tyre  

7.4.2.Footwear 

7.4.3.Belts  

7.4.4.Tubes and hoses  

7.4.5.Extruded profiles  

7.4.6.Printing Inks  

7.4.7.Battery electrodes  

7.4.8.Others   

7.5.    By End-user  

7.5.1.Textile  

7.5.2.Automotive  

7.5.2.1.              Passenger Cars (PCs) 

7.5.2.2.              Light Commercial Vehicles (LCVs) 

7.5.2.3.              Heavy Commercial Vehicle (HCVs) 

7.5.2.4.              Others 

7.5.3.Construction  

7.5.3.1.              Residential 

7.5.3.2.              Commercial 

7.5.3.3.              Industrial 

7.5.4.Manufacturing  

7.5.4.1.              Electrical  

7.5.4.2.              Auto parts  

7.5.4.3.              Colorants  

7.5.4.4.              Rubber goods  

7.5.4.5.              Others 

7.5.5.Plastics  

7.5.6.Others 

7.6.    By Region

7.6.1.Northern

7.6.2.Central

7.6.3.Southern

7.7.    South By Company Market Share (%), 2022

8.       Supply Side Analysis

8.1.    Capacity, By Company

8.2.    Production, By Company

8.3.    Operating Efficiency, By Company

8.4.    Key Plant Locations (Up to 25)

9.       Market Mapping, 2022

9.1.    By Type

9.2.    By Functionality

9.3.    By Application

9.4.    By End-user

9.5.    By Region

10.   Macro Environment and Industry Structure

10.1.                     Supply Demand Analysis

10.2.                     Import Export Analysis – Volume and Value

10.3.                     Supply/Value Chain Analysis

10.4.                     PESTEL Analysis

10.4.1.    Political Factors

10.4.2.    Economic System

10.4.3.    Social Implications

10.4.4.    Technological Advancements

10.4.5.    Environmental Impacts

10.4.6.    Legal Compliances and Regulatory Policies (Statutory Bodies Included)

10.5.                     Porter’s Five Forces Analysis

10.5.1.    Supplier Power

10.5.2.    Buyer Power

10.5.3.    Substitution Threat

10.5.4.    Threat from New Entrant

10.5.5.    Competitive Rivalry

11.   Market Dynamics

11.1.                     Growth Drivers

11.2.                     Growth Inhibitors (Challenges, Restraints)

12.   Key Players Landscape

12.1.                     Competition Matrix of Top Five Market Leaders

12.2.                     Market Revenue Analysis of Top Five Market Leaders (in %, 2022)

12.3.                     Mergers and Acquisitions/Joint Ventures (If Applicable)

12.4.                     SWOT Analysis (For Five Market Players)

12.5.                     Patent Analysis (If Applicable)

13.   Pricing Analysis

14.   Case Studies

15.   Key Players Outlook

15.1.                     Cabot Corporation

15.1.1.    Company Details

15.1.2.    Key Management Personnel

15.1.3.    Products & Services

15.1.4.    Financials (As reported)

15.1.5.    Key Market Focus & Geographical Presence

15.1.6.    Recent Developments

15.2.                     Phillips Carbon Black Vietnam Joint Stock Company  

15.3.                     Birla Carbon (Thailand) Public Company Limited

15.4.                     Vietnam National Chemical Corporation

15.5.                     Binh Son Petrochemical Refinery Company Limited

15.6.                     Orion Engineered Carbons

15.7.                     Jiangxi Black Cat Carbon Black Co., Ltd

15.8.                     Tokai Carbon Co., Ltd

15.9.                     Himadri Speciality Chemical Limited

15.10.                  Evonik Vietnam LLC

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

16.   Strategic Recommendations

17.   About Us & Disclaimer

List of Figures: Vietnam Carbon Black Market

Figure 1. Vietnam Carbon Black Market, By Value, In USD Million, 2016-2030F

Figure 2. Vietnam Carbon Black Market, By Volume, In Tons, 2016-2030F

Figure 3. Vietnam Carbon Black Market Share, By Type, In USD Million, 2016-2030F

Figure 4. Vietnam Carbon Black Market Share, By Functionality, In USD Million, 2016-2030F

Figure 5. Vietnam Carbon Black Market Share, By End-user Industry, In USD Million, 2016-2030F

Figure 6. Vietnam Carbon Black Market Share, By Application, In USD Million, 2016-2030F

Figure 7. Vietnam Carbon Black Market Share, By Region, In USD Million, 2016-2030F

Figure 8. By Type Map-Market Size (USD Million) & Growth Rate (%), 2022

Figure 9. By Functionality Map-Market Size (USD Million) & Growth Rate (%), 2022

Figure 10. By End-user Industry Map-Market Size (USD Million) & Growth Rate (%), 2022

Figure 11. By Application Map-Market Size (USD Million) & Growth Rate (%), 2022

Figure 12. By Region Map-Market Size (USD Million) & Growth Rate (%), 2022

List of Tables: Vietnam Carbon Black Market

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Region and Countries Where We Have Executed Client Projects

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