Carbon Black Market Growing at a CAGR of 4.6% During 2016 to 2022 - ReportsnReports
PUNE, India, April 24, 2017 /PRNewswire/ --
Carbon Black Market size is projected to reach $13.79 Billion by 2021, at a CAGR of 4.6% between 2016 and 2021. Carbon black products usage in several end-use industries like tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, & paint with Asia-Pacific is estimated to be fastest-growing market
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The carbon black market size is projected to reach USD13.79 billion by 2021, at a CAGR of 4.6% between2016and2021. Carbon black is a para crystalline form of carbon mainly used as reinforcing filler in tires and other rubber products. Additionally, it is used as black pigment in plastic products, printing inks, paints, and toners. Hence, its demand is expected to rise from tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint industries. Emission of CO2 gas during carbon black production may act as restraint for the carbon black market.
The furnace black segment is projected to witness high growth during the forecast period. This segment accounts for almost 80% of the total carbon black produced. It is produced by oil furnace process and is available in particle sizes ranging from 11nm to 500nm. It is used for various applications ranging from rubber reinforcement to coloring. Growth in furnace black consumption is driven by the growing demand from automobile and tire industries.
The market for carbon black in the tire application segment is projected to register the highest growth during the forecast period. The market in this application is growing due to the increasing demand for reinforcing filler from the tire industry. The use of carbon black as a reinforcing agent has gained significant importance as it improves the life span of tires by conducting heat away from the tread and belt area of tires. Furthermore, carbon black enhances the properties of tires such as handling, fuel mileage, tread wear resistance, abrasion resistance, and hysteresis, thereby, improving the overall performance of tires.
Asia-Pacific is estimated to be the fastest-growing market for carbon black. This high growth is owed to the easy availability of feed stock for carbon black production. China is projected to be the fastest-growing market for carbon black in Asia-Pacific, followed by India and Indonesia. China holds the major share of the carbon black market in Asia-Pacific. The expanding tire and rubber industry is driving the carbon black market in this region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub segments and information gathered through secondary research.
The break-up of primary interviews is given below:
- By Company Type - Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
- By Designation - C level - 21%, Director level - 23%, and Others* - 56%
- By Region - North America - 30%, Europe - 18%, Asia-Pacific- 41%, and Others**- 11%
Order a copy of 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 research report at http://www.reportsnreports.com/purchase.aspx?name=966064 .
The companies profiled in this market research report include Cabot Corporation (U.S.), Birla Carbon/Thai Carbon Black Public Company Limited (Thailand), Orion Engineered Carbons SA (Luxembourg), Phillips Carbon Black Limited (India), Tokai Carbon Co., Ltd. (Japan), Omsk Carbon Group OOO (Russia), Jiangxi Black Cat Carbon Black Inc., Ltd. (China), OCI Company Ltd. (South Korea), China Synthetic Rubber Corporation (China), Sid Richardson Carbon & Energy Co. (U.S.), and Mitsubishi Chemical Corporation (Japan).
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