New York, NY, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Carbon Black Market By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tire, Non-Tire Rubber, Inks & Coating, Plastic), By Grade (Standard Grade, Specialty Grade): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Carbon Black Market was estimated at USD 18 billion in 2019 and is expected to reach USD 22.5 billion by 2026. The global Carbon Black Market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2020 to 2027.
Global Carbon Black Market is Drive by Surging Demand for Carbon Black in Tire and Plastic Industry. Growing Adoption of Carbon Black in Coating Application is expected to drive the Market Development.
Carbon black is the result of insufficient oxidation in the processing of petroleum. It is usually used in the manufacture of tires, plastics, and rubber goods throughout production. Black carbon absorbs UV light and turns it into heat. Due to its UV safety and conductive properties in plastics, increased demand for carbon black is estimated to contribute to a new potential for market development.
The tires application segment was the largest contributor to the industry, but during the forthcoming years, the plastics segment is expected to rise with the highest CAGR. The most well-known utilization of dark carbon is in vehicle tires as a pigment and strengthening process. Carbon black allows heat to be carried away from the tire’s tread and belt area and helps to minimize thermal damage and improve tire service life. As vehicle demand increases, the automotive industry is projected to grow significantly. In particular, this aspect is expected to fuel the market for carbon black in tires and seat belts. Carbon black is used as it reveals antistatic and electrical conductivity characteristics in the manufacture of conductive plastics.
Browse through 59 Tables & 122 Figures spread over 225+ Pages and in-depth TOC on “Global Carbon Black Market: Industry Size, Share, Demand, Applications, Trends, Analysis and Forecasts, 2020–2026”.
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The global carbon black market is primarily driven by the growing demand from the construction and tire industry. As the reinforcing agent, the tire manufacturers use carbon black. Carbon black is used in the rubber industry as a coloring agent. In the forecast era, the increase in the use of carbon black as a coloring agent is expected to propel the market. Because of its competitive cost, the carbon black industry also faces difficulties during raw material procurement. Owing to the harmful effects of carbon black production, tire makers are increasingly switching as a reinforcing agent to the silica used. In the atmosphere, carbon dioxide is emitted during the processing of black carbon. A carbon black production may be hampered by tight control on carbon dioxide emissions. It is projected that an increase in the demand for UV protection and conductive plastic would stimulate a carbon black industry.
Top Market Players:
Some of the leading and top carbon black companies in the global carbon black market include China Synthetic Rubber Corporation, Cabot Corporation, Orion Engineered Carbons SA, Sid Richardson Carbon & Energy Co., Tokai Carbon Co., Ltd., Birla Carbon Black Public Company Limited, OCI, Omsk Carbon Group, Jiangxi Black Cat Carbon Black Inc., Ltd., Phillips Carbon Black Limited, and Mitsubishi Chemical Corporation, among others.
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Due to its use as a coloring agent and reinforcing agent, it is estimated that the furnace black market leads the market. The market is divided into tires, non-tire rubber plastics, and inks & coatings, according to usage. Carbon black is commonly used as a reinforcing agent in the tire industry. It is used in the inner lining, carcasses, sidewall tires, and tires' treads. The use of carbon black is expected to propel a carbon black industry in the tire industry. In addition to this, the second-largest market is expected to demand the use of carbon black for plastic black. The sector is bifurcated as a regular grade and a specialty grade, according to the grade. Because of the higher demand for the standard grade carbon black from the end-user sector, the standard grade is expected to gain the largest market share in the forthcoming years.
The demand for carbon black market size from the tyre manufacturers is estimated to drive a carbon black industry in the forthcoming time. The tire manufacturers use carbon black as the reinforcement agent. In the rubber industry, carbon black used as a coloring agent. The rise in the use of carbon black as a coloring agent is projected to propel the market in the forecasted period. A carbon black industry often faces challenges while procurement of raw material owing to its volatile pricing. Due to the hazardous effects of carbon black manufacturing, tyre manufacturers are slowly shifting to the used silica as a reinforcement agent.
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Carbon dioxide is released in the environment while the production of carbon black. The stringent regulation on carbon dioxide emission may become hinder carbon black growth. Increasing the requirement of UV protection and conductive plastic is estimated to spur a carbon black industry.
According to the type, the market is segmented as acetylene black channel black, furnace black, and thermal black. The furnace black market is estimated to lead the market owing to its use as a coloring agent and reinforcement agent. According to an application, the market is bifurcated as tyre, non-tyre rubber plastic, and inks & coating. Carbon black is widely used in the tyre industry as a strengthening agent. It is used in the inner liners, sidewalls, carcasses, and treads. The use of carbon black in the tyre industry is projected to spur a carbon black industry. Apart from this the use of carbon black for plastic black is projected to consume the second-largest market. According to the grade, the market is bifurcated as standard grade and specialty grade. Standard grade is estimated to gain the highest market share in the forecasted period due to the higher demand for the standard grade carbon black from the end-user industry.
Also, Read Carbon Black Market Press Release
Browse the full “Carbon Black Market By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tire, Non-Tire Rubber, Inks & Coating, Plastic), By Grade (Standard Grade, Specialty Grade): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/carbon-black-market-by-type-furnace-black-channel-541
The U.S. dominates the North American economy, both in terms of commodity demand as well as output. With a rise in the number of tires being manufactured every year, demand for tires in North America has risen. In addition, the continuous recovery of the continuing construction and automotive industries will further drive the market, potentially leading to the potential for paints, coatings, and non-tire rubber. Carbon-black plastics are lightweight and thus help to minimize carbon consumption of fuel. It is projected that the Asia Pacific region is leading the market. The Asia Pacific is expected to rise in demand for carbon black from tire manufacturers. The productivity of tire manufacturers is expected to be effective in the growth of demand. Over the forecast era, increasing automotive output is also set to propel product demand. Initially, chemicals were exported to developing countries such as China, yet exports declined as their total production grew.
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This report segments a Carbon Black Market as follows:
Global Carbon Black Market: By Type Segmentation Analysis
- Furnace Black
- Channel Black
- Thermal Black
- Acetylene Black
Global Carbon Black Market: By Application Segmentation Analysis
- Tire
- Non-Tire Rubber
- Inks & Coating
- Plastic
Global Carbon Black Market: By Grade Segmentation Analysis
- Standard Grade
- Specialty Grade
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