• DuPont for carbon black and fumed silica.
• Corning for industrial performance materials.
• International Flavors & Fragrances (IFF) for industrial ingredients.

Cabot Corporation (CBT) primarily produces specialty chemicals and performance materials. Its major products include:

• Carbon Black: A reinforcing agent in tires and other rubber products, and a pigment in plastics, inks, and coatings.
• Fumed Silica: An ultrafine, high-purity material used as a thickening, thixotropic, and anti-settling agent in various applications.
• Specialty Compounds & Masterbatches: Concentrated mixtures of pigments or additives in a polymer carrier, used to color or enhance the properties of plastics and fibers.
• Aerogels: Extremely lightweight, porous materials known for their excellent thermal insulation properties and used in high-performance applications.
• Battery Materials: Conductive carbon additives and dispersions specifically designed to improve the performance and longevity of lithium-ion batteries.

Sean Keohane, President & Chief Executive Officer

Sean Keohane became President and Chief Executive Officer of Cabot Corporation in March 2016. He joined Cabot in 2002 and has held numerous key management positions within the company, including president of the Reinforcement Materials segment, president of the Performance Chemicals segment, and president of the Asia Pacific region. Before joining Cabot, Keohane worked for Pratt & Whitney, a division of United Technologies, in various general management positions. He also serves on the Board of Directors of The Chemours Company and the American Chemistry Council.

Erica McLaughlin, Executive Vice President, Chief Financial Officer and Head of Corporate Strategy

Erica McLaughlin joined Cabot in 2002 and was appointed Executive Vice President, Chief Financial Officer and Head of Corporate Strategy in 2022. She has held a variety of roles within Cabot's finance organization and global businesses, including vice president of business operations for the Reinforcement Materials segment and general manager of the tire business, vice president of investor relations and corporate communications, and global director of strategy, planning and finance for Cabot’s core segment. Prior to joining Cabot, McLaughlin worked for KPMG, LLP in their audit services division. She also serves on the Board of Directors of Azenta Life Sciences and the Advisory Board of FM Global.

Patricia Hubbard, Senior Vice President & Chief Technology Officer

Patricia Hubbard has been the Senior Vice President and Chief Technology Officer of Cabot Corporation since February 2018.

Arthur T. Wood, Senior Vice President, Chief Human Resources Officer and President of Americas Region

Arthur T. Wood has been the Senior Vice President, Chief Human Resources Officer, and President of Americas Region of Cabot Corporation since 2017. Prior to joining Cabot, he held several senior human resources leadership roles, including Vice President of Human Resources, Specialty Diagnostics Group for Thermo Fisher Scientific, and also worked at Progress Software and Sun Microsystems.

Bart Kalkstein, Senior Vice President & President, Reinforcement Materials Segment; President, Americas Region

Bart Kalkstein serves as Senior Vice President and President of the Reinforcement Materials Segment, and President, Americas Region, at Cabot Corporation.

The emergence and increasing adoption of Recycled Carbon Black (rCB) derived from end-of-life tires (ELT) via pyrolysis technology. This represents a direct, more sustainable alternative to virgin carbon black, which is Cabot's largest product segment. Major tire manufacturers and other industrial customers are actively pursuing circular economy solutions and setting ambitious targets for incorporating recycled and sustainable materials into their products. The scaling of rCB production capacity and improvements in its quality make it a viable substitute, potentially impacting demand, pricing, and market share for Cabot's virgin carbon black products.

Cabot Corporation (CBT) operates in several specialty chemical markets. The addressable market sizes for its main products are as follows:

• Carbon Black: The global carbon black market is projected to grow from USD 27.88 billion in 2024 to USD 44.77 billion by 2034, expanding at a compound annual growth rate (CAGR) of 4.85% between 2025 and 2034. In terms of volume, the global carbon black market stood at approximately 14 million tonnes in 2024 and is expected to reach approximately 22 million tonnes by 2035, growing at a CAGR of 4.10%. The North American carbon black market is expected to reach USD 3.97 billion in 2025 and grow at a CAGR of 4.33% to reach USD 4.90 billion by 2030. For specialty carbon black, the global market size was estimated at USD 3.0 billion in 2024 and is projected to reach USD 5.40 billion by 2030, growing at a CAGR of 10.3% from 2025 to 2030.
• Fumed Silica: The global fumed silica market was valued at USD 2 billion in 2024 and is estimated to grow at a CAGR of over 5.4% from 2025 to 2034. Another report estimates the global fumed silica market size to be valued at USD 1.22 billion in 2025 and expected to reach USD 1.77 billion by 2032, growing at a CAGR of 5.5% from 2025 to 2032. The demand for fumed silica has risen exponentially to over 285 thousand tonnes in 2024 and is expected to reach approximately 485 thousand tonnes by 2035, growing at a CAGR of 5.01%. North America is expected to hold the largest share of 37.8% in the global fumed silica market outlook in 2025.
• Aerogel Products: The global aerogel market size was estimated at USD 1.38 billion in 2024 and is projected to reach USD 3.49 billion by 2030, growing at a CAGR of 17.0% from 2025 to 2030. Another source indicates the global aerogel market size was valued at USD 1.12 billion in 2024 and is projected to grow from USD 1.27 billion in 2025 to USD 3.03 billion by 2032, exhibiting a CAGR of 13.30% during the forecast period. North America dominated the aerogel market in 2024 with a 42.86% share.
• Inkjet Colorants: The global inkjet colorants market is projected to reach a market value of 3.36 USD billion in 2024 and an anticipated increase to 5.78 USD billion by 2035, with a compound annual growth rate of 5.05% from 2025 to 2035. Another report states the global inkjet colorant market size was valued at USD 3.8 billion in 2022 and is projected to reach a value of USD 6.7 billion by 2031, registering a CAGR of 6.6% during the forecast period (2023-2031). North America is anticipated to exhibit a CAGR of 6.9% over the forecast period for inkjet colorants.

Here are 3-5 expected drivers of future revenue growth for Cabot (CBT) over the next 2-3 years:

1. Volume Growth Across Segments: Cabot anticipates continued volume growth, particularly in its Reinforcement Materials segment, driven by increases in Asia Pacific and Europe. The Performance Chemicals segment is also expected to see improved volumes as it reconnects with underlying demand drivers in key end markets.
2. Improved Pricing and Product Mix: The company expects to benefit from improved pricing and a favorable product mix, especially within its Reinforcement Materials segment, based on customer agreements. In Performance Chemicals, a more favorable product mix from higher sales into automotive and electronics end markets is also a growth factor.
3. Expansion in Battery Materials: Cabot is strategically investing in high-growth areas such as battery materials. This includes new capacity to meet growing customer demand and a significant $50 million award from the U.S. Department of Energy (DOE) to establish the first commercial-scale facility for battery-grade carbon nanotubes (CNTs) and conductive additive dispersions in the U.S., with final terms expected by January 2025. This initiative is considered a significant growth driver.
4. Strategic Investments and Innovation ("Creating for Tomorrow" Strategy): Cabot's overarching "Creating for Tomorrow" strategy emphasizes strategic investments to achieve advantaged growth and the development of innovative products and processes. This strategic pillar is expected to drive overall revenue by focusing on sustainable solutions and operational excellence.

Share Repurchases

• Cabot Corporation executed $168 million in share repurchases during fiscal year 2025.
• In fiscal year 2024, the company repurchased $172 million of shares.
• For fiscal year 2025, Cabot plans $150 million to $200 million in share repurchases.

Outbound Investments

• Cabot Corporation announced an agreement to acquire Bridgestone Corporation's reinforcing carbons plant in Mexico in fiscal year 2025.

Capital Expenditures

• Capital expenditures totaled $274 million in fiscal year 2025. The company expects capital expenditures to be between $200 million and $250 million for fiscal year 2026.
• In fiscal year 2024, capital investments were $241 million, including $156 million for sustaining and compliance projects and $85 million for growth-related investments.
• The primary focus of capital expenditures includes investing in high-growth areas such as battery materials, expanding capacity to meet customer demand, and supporting sustainability initiatives.