炭黑行业供需失衡加剧 2026年或难缓解

Group 1 - The carbon black industry is experiencing a significant supply-demand imbalance, with supply growth outpacing demand growth over the past two years [1][2] - In 2025, the carbon black market is expected to face downward pressure on prices due to high inventory levels and limited demand growth, particularly in the semi-steel tire sector [2][3] - The average market price of carbon black remained stable at 5833.33 yuan/ton as of November 18, 2025, reflecting ongoing supply-demand mismatches [1][2] Group 2 - The carbon black industry is projected to see a concentrated release of new capacity between 2026 and 2028, with an expected addition of over 142.5 thousand tons, primarily from large enterprises and petroleum-based raw material producers [4] - The industry is likely to face intensified supply-demand conflicts, leading to a potential increase in the elimination rate of small carbon black enterprises and a rise in industry concentration [4] - The regional supply-demand dynamics in 2026 are expected to remain similar to 2025, with East and North China as the main supply areas and East China as the largest demand area [5]