Carbon Black Market Worth 13.79 Billion USD by 2021
PUNE, India, April 19, 2017 /PRNewswire/ --
The report "Carbon Black Market by Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), Application (Tire, Non-Tire Rubber, Inks & Coating, Plastic), Grade (Standard Grade, Specialty Grade), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to reach USD 13.79 Billion by 2021, at a CAGR of 4.6% between 2016 and 2021.
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Browse 171 market data Tables and 68 Figures spread through 226 Pages and in-depth TOC on "Carbon Black Market"
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The Carbon Black Market is driven by the increasing demand for carbon black in tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint industries.
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Furnace black segment estimated to lead overall Carbon Black Market
Furnace black is produced from heavy aromatic hydrocarbon oils such as petroleum oil and coal oil using the oil furnace process. It is estimated to be the leading type of carbon black in the overall market as its manufacturing process enables mass production of carbon black with different particle sizes and structures. In addition, furnace black can be used for various applications, ranging from rubber reinforcement to coloring.
Tire application accounted for largest share of Carbon Black Market
Tire application accounted for the major share of the overall Carbon Black Market, followed by non-tire rubber application. Carbon black is majorly used as reinforcing filler in tires. It improves life span of tires as it conducts heat away from the tread and belt area of tires. Additionally, carbon black optimizes the properties of tires such as handling, fuel mileage, tread wear resistance, abrasion resistance, and hysteresis, thereby, improving the overall performance of tires.
Rising demand for carbon black from Asia-Pacific expected to be a key factor driving the growth of the global Carbon Black Market
Asia-Pacific is estimated to be the leading market for carbon black. China is estimated to be the largest market and is projected to be the fastest-growing market for carbon black during the forecast period. India, Japan, and Thailand are other major countries contributing to the growth of the Carbon Black Market in the region. The increasing demand of carbon black from end-use industries such as tire, rubber, and plastic is expected to drive the Carbon Black Market in these countries.
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The key companies profiled in the Carbon Black Market research report are Cabot Corporation (U.S.), Thai Carbon Black Public Company Limited (Thailand), Orion Engineered Carbons SA (Luxembourg), Jiangxi Black Cat Carbon Black Inc., Ltd. (China), China Synthetic Rubber Corporation (China), Phillips Carbon Black Limited (India), Tokai Carbon Co., Ltd. (Japan), Sid Richardson Carbon & Energy Co. (U.S.), Omsk Carbon Group OOO (Russia), OCI Company Ltd. (South Korea), and Mitsubishi Chemical Corporation (Japan).
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