Detonation of carbon-rich high explosives produces significant amounts of carbon soot. This soot consists of nanometer-size carbon particles (e.g., nanodiamonds), often aggregated into large fractal structures. The formation of carbon soot in detonation is typically referred to as carbon condensation or carbon clustering. Modeling the kinetics of carbon condensation has traditionally been done within the paradigm of the Smoluchowski coagulation with two standard approximations: (i) low volume fraction of soot-forming carbon in detonation products, and (ii) infinitely fast coalescence of carbon particles upon collision. In this paper, we consider the implications of lifting these two approximations on modeling of the kinetics of carbon condensation. The results of this work compare favorably to recent experimental observations. [ABSTRACT FROM AUTHOR]