carbon black in various products for rubber reinforcement and coloring is estimated to escalate at a healthy CAGR of 5.65% during the forecast period 2019-2025.
According to the International Trade Centre (ITC), the global trade of tires was gauged to be $82.214 billion in 2018, with an annual growth rate of 7% between 2017 and 2018. Carbon black is used as a filler in tires as it is a rubber reinforcing agent.
Carbon Black Market Outlook:
Carbon black that includes acetylene black and a lamp black is a form of para-crystalline carbon that is obtained after incomplete combustion of heavy petroleum products such as coal tar. High-concentration of carbon black can cause health hazards as it is possibly carcinogenic in nature.
Carbon black finds applications in tires, industrial rubber products, plastics, electronic discharge compounds, and high-performance coatings. The key application of carbon black is in automotive tires. As the automotive tire market is growing, the sales of carbon black in the segment is poised to grow at a CAGR of 4.95% through to 2025.
· The Growing Opportunities of the Paints & Coatings Market –
The paints & coatings market was valued to be $127.9 billion as of 2018, and the market size is estimated to expand at a CAGR of 4.69% over the forecast period 2019-2025. Carbon black paint is commonly used in the automotive industry for painting vehicles. Additionally, it is used as a pigment in other coatings and paints. The growing paints & coatings industry is creating opportunities for the vendors in the carbon black market.
The Application in Industrial Rubber –
The industrial rubber market is booming with increasing application of rubber in mechanical rubber goods, vibration control products, molded rubber goods, weather stripping products, wiper blades, and rubber hoses. Carbon black is used as a rubber reinforcing agent in the industrial rubber products, which has become a source of revenue in the carbon black market.
The Plastic Industry Supporting the Carbon Black Market –
Plastic polymers market is a significant marketplace for carbon black. This is majorly attributed to the properties of carbon black that can impart color, opacity, electrical conductivity, and protection from ultra-violet degradation in plastic materials. The growing application of the material in many segments of plastic that include molding, film, pipe, fiber, and cable is expanding the global carbon black market size.
Carbon Black Market Key Players Perspective –
The major players ahead of the curve in the carbon black market are Cabot Corporation, Orion Engineered Carbons, Birla Carbon, Continental Carbon Company, Pyrolyx AG, Nippon Steel & Sumikin Chemical Co., Ltd., Shandong Huadong Rubber Materials Co., Ltd., Black Bear Carbon BV, Mitsubishi Chemical Corporation, Imerys Graphite & Carbon Switzerland SA, OMSK Carbon Group, Longxing Chemical Group Tokai Carbon Co. Ltd., and Phillips Carbon Black Ltd.
Investments and Expansion by the vendors in the carbon black market -
· In May 2018, Phillips Carbon Black Limited (PCBL) planned to invest $127.94 million in order to expand its production facility. The expansion was envisioned to leverage the growing demand for carbon black drive by the tire industry and specialty black end-users.
· Cabot Corporation announced acquisition of NSCC Carbon (Jiangsu) Co. Ltd. carbon plant in China. This will increase the manufacturing capacity of Cabot Corporation and will help the organization to rise above competitors in terms of carbon black market share.
The growing trade of tires worldwide is offering opportunities to the players in the carbon black market that observed a lucrative valuation of $15.56 billion as of 2018. Furthermore, the application of carbon black in various products for rubber reinforcement and coloring is estimated to escalate at a healthy CAGR of 5.65% during the forecast period 2019-2025.
Owing to the growth of the automotive industry in APAC countries such as China, India, and Indonesia, the carbon black market is observing lucrative prospects in the region. China houses the world's largest automotive industry, which becomes a major carbon black marketplace. Furthermore, the construction industry in India is witnessing a demand upsurge and it's quite evident with the fact that the country is anticipating 100 smart cities by the end of 2020. This is again creating a demand for carbon black in the country.
Apart from these, Japan has experienced an upsurge in the construction industry after the 2011 earthquake, which is augmenting the carbon black market demand in the country. APAC had the largest carbon black market share of 49% in 2018.
Carbon Black Market Outlook:
Carbon black that includes acetylene black and a lamp black is a form of para-crystalline carbon that is obtained after incomplete combustion of heavy petroleum products such as coal tar. High-concentration of carbon black can cause health hazards as it is possibly carcinogenic in nature.
Carbon black finds applications in tires, industrial rubber products, plastics, electronic discharge compounds, and high-performance coatings. The key application of carbon black is in automotive tires. As the automotive tire market is growing, the sales of carbon black in the segment is poised to grow at a CAGR of 4.95% through to 2025.
Carbon Black Market Growth Drivers:
· The Growing Opportunities of the Paints & Coatings Market –
The paints & coatings market was valued to be $127.9 billion as of 2018, and the market size is estimated to expand at a CAGR of 4.69% over the forecast period 2019-2025. Carbon black paint is commonly used in the automotive industry for painting vehicles. Additionally, it is used as a pigment in other coatings and paints. The growing paints & coatings industry is creating opportunities for the vendors in the carbon black market.
Apart from paints, the material is also used in toners and printing inks which further increases the carbon black market size.
The Application in Industrial Rubber –
The industrial rubber market is booming with increasing application of rubber in mechanical rubber goods, vibration control products, molded rubber goods, weather stripping products, wiper blades, and rubber hoses. Carbon black is used as a rubber reinforcing agent in the industrial rubber products, which has become a source of revenue in the carbon black market.
The Plastic Industry Supporting the Carbon Black Market –
Plastic polymers market is a significant marketplace for carbon black. This is majorly attributed to the properties of carbon black that can impart color, opacity, electrical conductivity, and protection from ultra-violet degradation in plastic materials. The growing application of the material in many segments of plastic that include molding, film, pipe, fiber, and cable is expanding the global carbon black market size.
Carbon Black Market Key Players Perspective –
The major players ahead of the curve in the carbon black market are Cabot Corporation, Orion Engineered Carbons, Birla Carbon, Continental Carbon Company, Pyrolyx AG, Nippon Steel & Sumikin Chemical Co., Ltd., Shandong Huadong Rubber Materials Co., Ltd., Black Bear Carbon BV, Mitsubishi Chemical Corporation, Imerys Graphite & Carbon Switzerland SA, OMSK Carbon Group, Longxing Chemical Group Tokai Carbon Co. Ltd., and Phillips Carbon Black Ltd.
Investments and Expansion by the vendors in the carbon black market -
· In May 2018, Phillips Carbon Black Limited (PCBL) planned to invest $127.94 million in order to expand its production facility. The expansion was envisioned to leverage the growing demand for carbon black drive by the tire industry and specialty black end-users.
· Cabot Corporation announced acquisition of NSCC Carbon (Jiangsu) Co. Ltd. carbon plant in China. This will increase the manufacturing capacity of Cabot Corporation and will help the organization to rise above competitors in terms of carbon black market share.
Carbon Black Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments.
These provide the key market participants with the necessary business intelligence and help them understand the future of the carbon black market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period.
This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The carbon black market research report also analyses the application of carbon black in tire, plastics, paints & coatings, and ink industries.
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