According to a report from the Japan Carbon Black Association on February 15, the association initially forecasted Japan's total carbon black demand (including domestic and export) for 2024 to be 685,900 tons, representing a slight 1.2% increase over the actual demand in 2023. However, with changes in market expectations, especially from the Japan Automobile Tire Association and the Japan Rubber Industry Association, the forecast was later revised.
On August 15, the Japan Carbon Black Association released the updated figures, showing that the total demand for 2024 is now expected to be 659,500 tons, a slight 1.6% decline compared to 2023. The demand for tire-grade carbon black was adjusted down from 450,800 tons to 432,500 tons, while general rubber product demand was reduced from 146,700 tons to 138,900 tons. However, demand for non-rubber carbon black slightly increased from 39,200 tons to 39,600 tons. Export volumes were revised from 49,200 tons to 48,500 tons, and import volumes from 111,500 tons to 111,000 tons.