Japan's 2024 Carbon Black Demand Adjusted: Slight Decline Expected in Key Sectors

　The Japan Carbon Black Association initially published its 2024 forecast for the carbon black market on February 15, predicting a total demand of 685,900 tons (domestic and export combined), which was expected to grow by 1.2% compared to 2023. However, due to adjustments in market forecasts from both the Japan Automobile Tire Association and the Japan Rubber Industry Association, as well as the global market outlook, the association revised its expectations in August.

　　On August 15, the updated forecast was released, with the total demand for carbon black in 2024 now projected to be 659,500 tons, representing a 1.6% decline from 2023. Specifically, the demand for carbon black used in tires was lowered from 450,800 tons to 432,500 tons, while demand for general rubber products decreased from 146,700 tons to 138,900 tons. Conversely, the demand for non-rubber applications saw a slight increase, rising from 39,200 tons to 39,600 tons. The expected export volume was adjusted from 49,200 tons to 48,500 tons, while the import forecast was reduced from 111,500 tons to 111,000 tons.