Carbon Black Market Research Report- Forecast to 2023

Posted by Avinash on December 12th, 2019

Market Research Future Has Published a Cooked Research Report on the Global Carbon Black Market - Forecast to 2023

Market Analysis:

The Global Carbon Black Market is predicted to touch USD 17,230.4 Billion at a 4.59% CAGR over the forecast period (2015-2023), states the new Market Research Future (MRFR) report. Carbon Black, simply put, is a rubber-reinforcing additive that is used in various rubber products. In comparison to other colorants, it has higher coloring power, thus is used as an ink-jet toner, printing newspapers, and other similar uses. Carbon Black is also utilized as a pigment for coating electric wires, car fenders, heat-molded plastics, and other products. Owing to its excellent conductive properties, carbon black is also used as a component for semiconductors and magnetic tapes.

Various factors are propelling the Carbon Black Market Growth. These factors, as stated by the latest MRFR report, include increasing use in the production of plastics, rising use of plastics in electronic and electrical components, increase in the refurbishment of automobiles, thriving tire industry, and demand as a pigment in plastics, coatings, and other industries.

On the contrary, volatility in costs of raw materials, presence of carcinogenic content that causes respiratory discomfort and risk of lung cancer, and availability of alternatives such as silica are factors that may impede the Carbon Black Market growth over the forecast period.

Key Players:

Leading Players profiled in the Carbon Black Market report include Jiangxi Black Cat Carbon Black Inc., Ltd, Suzhou Baohua Carbon Black Co., Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Shandong Huadong Rubber Materials Co., Ltd., Kremenchug Carbon Black Plant, Sid Richardson Carbon and Energy Co. Ltd., ChemChina, Himadri Speciality Chemical Ltd., JINNENG, Longxing Chemical, Tokai Carbon Co., Ltd., Phillips Carbon Black Ltd., Orion Engineered Carbons, OCI COMPANY Ltd., Cabot Corporation, and Mitsubishi Chemical Corporation. 

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June 2019: Orion Engineered Carbons SA, leading supplier of high performance and specialty carbon black will soon expand their production capacity for Gas Blacks in Germany.

Market Segmentation:

The MRFR Report Provides a complete Segmental Analysis of the Carbon Black Market report based on Process Type, Function, and End Use.

Based on Process Type, the Carbon Black Market is segmented into acetylene black, thermal black, channel black, furnace black, and others. Of these, the furnace black segment will have the largest share in the market over the forecast period. Furnace black is widely used as its manufacturing technique allows mass production with various particle structures and sizes. Moreover, it is also used in different applications, including coloring and rubber reinforcement.

Based on Function, the Carbon Black Market is segmented into pigments and reinforcement.

Based on End Use, the Carbon Black Market is segmented into plastics, inks, paints and coatings, non-tire, tire, and others. Of these, the tire segment will dominate the market over the forecast period. Carbon Black is widely utilized in tire manufacturing as a filler and strengthening agent. It is also used in sidewalls, treads, inner liners, and carcasses using various types resting on definite performance needs.

Regional Analysis:

By Region, the Carbon Black Market Report covers the latest trends and growth opportunities across North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the APAC region will dominate the market over the forecast period. It is predicted to touch USD 9,242.0 million by 2023. Factors aiding growth in the region include healthy growth of end users in the region, elevated penetration in different end use industries, constant industrialization, and swift urbanization. Moreover, the policymakers in China, India, and South Korea are making good investments for expanding their commercial and residential infrastructure, which is boosting the market growth.

The Global Carbon Black Market in North America is predicted to have favorable growth over the forecast period. Factors aiding growth in the region include growing demand for personal cars, increased production of rubber goods and tire in the region, and the presence of leading end use industries, especially in the US.

The Carbon Black Market in Europe is predicted to have a significant share in the market over the forecast period. Germany is the key contributor in this region due to increased automotive production.

The Carbon Black Market in Latin America and the Middle East and Africa is predicted to have a steady growth over the forecast period.