Carbon Black Market by End-use Industry (Rubber, Plastics, Coatings, Printing Inks, Construction & Others) and Region - Analysis & Forecast 2019-2030
Report ID : 53 | Published Date : Apr 2019 | Pages : 150 | Region : Global | Report Code : CM-2
Carbon Black Market Overview and Introduction
The global carbon black market was valued at over US$ 14.0 Mn in 2018 and is anticipated to grow at a CAGR of 6.7% from 2019 to 2030.
Carbon black is pure elemental carbon in the form of colloidal particles. Carbon black is manufactured by four different process such as furnace black process, fabrication of gas blacks, acetylene black process and lampblack process. Furnace black process is the most widely used process. Carbon black is used in various materials to enhance the electrical, optical and physical properties of the final product. It is widely used in manufacturing of rubber products as reinforcement and performance additives.
The global market is witnessing growth owing to rise in demand from tires and construction end use industry. However, stringent government regulation and environmental concerns are the factors hampering the market growth. Moreover, volatility in prices of raw materials is another factor restraining the growth of the overall market. Rise in requirement for UV protective properties in plastics is anticipated to offer immense market potential.
Carbon Black Market by End Users
By end use industry, rubber accounted for the largest share of the market in 2018 in terms, of volume and value as well. This growth is attributed towards the rising demand of tires from the automotive industry. Carbon black is use as filler in tires and mechanical rubber components. It is used in varied formulations with different rubber type to customize the properties of tires. This segment is anticipated to maintain its hold on the market throughout the forecast period of 2019-2030. Plastics and printing inks segments are another most attractive segment. It is anticipated that these two segments will account for significant share of the black carbon demand over the forecast period.
Carbon Black Market by Regions
In 2018, Asia Pacific holds the significant share of the carbon black market. It is also projected to be the fastest growing region. India and China are the two major regions contributing towards the growth of this market in Asia Pacific region. Rapid industrialization, favorable government policies, rising automotive production along with infrastructural developments are some of the factors propelling the market growth. Moreover, major manufacturers of tires are shifting their manufacturing base to these countries owing to low labor cost. Increasing foreign investments is another factor anticipated to boost the market demand over the forecast period. Stringent government regulations in North America and Europe are projected to hamper the carbon black market growth to some extent in these regions. However, rising demand from various end-use industries is projected to provide support to the market growth.
Carbon Black Market Prominent Players
Technological advancement and increasing production capacities are the two major strategies adopted by the market players. Birla Carbon, Orion Engineered Carbons, Jiangxi Black Cat Carbon Black Co. Ltd. and Cabot Corporation are the largest players present in this market. Collaborations with raw materials suppliers and shifting their base to more economic regions are some of other strategies adopted by players present in this market. Some of the other players present in this market are Phillips Carbon Black Ltd, China Synthetic Rubber Corporation, Mitsubishi Chemical Corporation, and OMSK Carbon Group among others.