The external substitution of carbon black by other materials is a restraint to t
Posted by rohan on July 25th, 2019
The global carbon black market is estimated to reach a total of 15.12 billion by the end of 2023 with a growth rate of 4.63% due to the demand from end-use industries.Carbon black is a pure elemental carbon that is in the form of fine or aggregate particles which are formed by incomplete combustion or decomposition of hydrocarbons under controlled temperature and pressure. Furnace black, thermal black, acetylene black, and gas black are major types of carbon black. Furnace black is generally produced by using heavy aromatic oils as feedstock. Carbon black is used in a broad range of materials in order to improve their performance in terms of physical, electric, and optical properties.
Market drivers and restraints:
Rising demand for specialty-grade carbon black for use as a pigment in coatings, plastics, and other industries has prompted leading carbon black manufacturers to escalate their production capacity for specialty–grade carbon black. Volatility in prices of raw materials (like carbon black oil and carbon black feedstock) and hazardous gases emitted into the atmosphere throughout the manufacture of carbon black are key restraining factors for the world carbon black market. The external substitution of carbon black by other materials such as precipitated silica or nano silica is another restraint of the carbon black market.
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Report segmented as:
By pigment source:
On the basis of geography, Asia Pacific had the biggest global market share in the year 2018 and is estimated to be quickest growing market in the projected period, owing to its high CAGR and increasing demand for growing industries.
Important market players:
The key companies operating in the carbon black market 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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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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