NEW YORK, Aug. 4, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of carbon black for the global tire market looks good with opportunities in the passenger car, commercial vehicles, and others tire applications. Carbon black for the global tire market is forecast to grow at a CAGR of 5.6% from 2015 to 2020. The major drivers of growth for this market are strong demand for tires from passenger cars and commercial vehicles.
In this market, carbon black is used in the tires for the passenger cars, commercial vehicles and others applications. Lucintel predicts that the demand for carbon black in commercial vehicles is likely to experience the significant growth in the forecast period supported by rapid development of the transportation infrastructure in emerging nation and recovery in global economy.
Within the carbon black for the global tire market, the replacement tire industry is expected to remain the largest segment over the forecast period. Rising average vehicle life and continuous expansion of automotive vehicle fleet is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the increase in production of passenger cars and light commercial vehicles in China and India. Asia Pacific and the Rest of the World are expected to witness good growth over the forecast period because of growth in automotive demand and increasing investment in tire production facilities in low cost countries.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of carbon black can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
Emerging trends, which have a direct impact on the dynamics of the industry, include the shift from commodity to more specialize grade carbon black, growing usage of recycled and bio-based carbon black and increasing merger and acquisition activities to consolidate the market. Cabot Corporation, Birla Carbon, Orion Engineered Carbons, Sid Richardson Carbon & Energy Co and Philips Carbon Black are among the major suppliers of carbon black for tire market. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed carbon black in the global tire industry by application, end use industry and region, and has come up with a comprehensive research report, "Carbon Black in the Global Tire Industry 2015-2020: Trends, Forecast, and Opportunity Analysis". The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of carbon black in the global tire industry through 2021, segmented by application, end use industry and region as follows:
By Application [volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
• Passenger Car Tire
• Commercial Vehicles Tire
By end user industry volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
By region [volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
• North America
• Asia Pacific
• Rest of World
This report answers following 11 key questions:
Q.1: What are some of the potential, high-growth opportunities for carbon black in the global tire market by end user industry and regions?
Q.2: Which segments will grow at a faster pace and why?
Q.3: Which regions will grow at a faster pace and why?
Q.4: What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5: What are the business risks and threats to the market?
Q.6: What are emerging trends in this market and reasons behind them?
Q.7: What are some changing demands of customers in the market?
Q.8: What are the new developments in the market? Which companies are leading these developments?
Q.9: Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10: What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via materials / product substitution
Q.11: What are M & A activities in the last 5 years in this market? What reasons can be attributed to these activities and how have they impacted the industry?
Read the full report: http://www.reportlinker.com/p03871135-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/carbon-black-in-the-global-tire-industry-2015-2020-trends-forecast-and-opportunity-analysis-may-2016-300309447.html