Carbon Black Market 2019 Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2023

21/gen/2019 12:03:06 Market Research Future Contatta l'autore

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Market Overview

Global sales of Carbon Black have witnessed higher growth as the demand for tire and rubber manufacturing continues to reach new heights in major emerging markets across the globe. According to the study conducted by Market Research Future (MRFR), the Global Carbon Black Market is set to expand at a robust CAGR of 4.59% over the forecast period (2017-2023). The demand for the product in advanced economies has been observed to reach a maturity level. The countries such as China, India, South Korea, and Brazil have emerged as the new growth avenues for major industry players. The substantial boost to construction activities in recent years, particularly in Asia Pacific, Latin America, and the Middle East is expected to fuel the growth of the market during the years to follow.

The protuberant factor favoring the growth of the Global Carbon Black Market is the surging the use of Carbon Black in tire manufacturing and rubber reinforcement. Additionally, widening application scope for Carbon Black in rapidly emerging industries such as plastics and paints & coatings is likely to propel the market growth. Moreover, the increased demand in major end-use industries such as automotive and aerospace is anticipated to fuel demand for the product during the forecast period. However, the major bottleneck in the growth trajectory of the market is that the market is challenged with the changing regulations resulting in replacement of Carbon Black with silica as a reinforcing agent in tire manufacturing. Nevertheless, bolstering automotive aftermarket & construction sector in emerging economies is posing as an important opportunity for further growth of the market.

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Global Market for Carbon Black: Competitive Dashboard

Some of the key players profiled in the report include Mitsubishi Chemical Corporation, Cabot Corporation, OCI COMPANY Ltd., Orion Engineered Carbons, Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, JINNENG, Himadri Speciality Chemical Ltd., ChemChina, Sid Richardson Carbon and Energy Co. Ltd., Kremenchug Carbon Black Plant, Shandong Huadong Rubber Materials Co., Ltd., NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., Suzhou Baohua Carbon Black Co., Ltd., and Jiangxi Black Cat Carbon Black Inc., Ltd.

Global Market for Carbon Black: Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market based on process Type, Function, End-Use, and Region. By Process Type, the market is segregated into furnace black, channel black, thermal black, acetylene black, and others. Among them, the furnace black segment dominated the market with 81.14% share of the market and is projected to retain its dominance throughout the review period. By Function, the market is divided into reinforcement and pigments. In 2017, the reinforcement segment was valued at USD 11,329.3 million and is projected to maintain a healthy growth rate during the forecast period. By End-Use, the market is bifurcated into tire, non-tire, paints & coatings, inks, plastics, and others. The tire segment, among them, is estimated to remain dominant towards the end of the assessment period.

Regional Outlook:

On the basis of Region, the global market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Asia Pacific accounted for the largest market share in 2017, and the region is most likely to remain dominant during the years to follow. This is due to the high demand for the product from leading end-use industries such as tire making, rubber, plastics, and ink in this region. Moreover, changing lifestyle, rising standards of living, and increasing disposable income have enhanced dynamism of major emerging economies in this region such as India, South Korea, China, and ASEAN countries. North America and Europe are expected to be other substantial growth pockets in the global Carbon Black Market during the assessment period. Both the regions collectively account for over 35% share of the global market. The Middle East & Africa and Latin America are also important regions in this market, which are growing at moderate CAGR and are expected to gain momentum during the forecast period.

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