Carbon Black Market Research Report- Opportunities & Challenges With Totally Different Segments, Forecast- 2030

 

Overview:

The carbon black market is gaining pace in sync with the burgeoning industries such as plastics and paints & coatings. The manufacturing sector is also playing a crucial role in taking the carbon black market forward. The market has evolved as happening with the growing investment in industrial sectors in developing countries to revamp their financial structure. A type of paracrystalline carbon, it has a high surface-area-to-volume ratio and is used mainly in model compounds for diesel soot in various experiments. The global carbon black market is set to achieve a valuation of USD 17.23 billion by 2023 at a CAGR of 4.59% during the forecast period (2017-2023). Reports published recently by Market Research Future (MRFR) incorporates segmental analysis and possible drivers for the market’s growth in the coming years for a good grasp over the market.

Among the various industries, carbon black market finds significant traction from the tire manufacturing industry. With the automotive sector gaining prominence across the globe due to the increasing disposable income, carbon black market is going to score big as an associated industry. Construction industry holds much promise as well which can be cashed in during the forecast period. In addition, increasing investment in developing countries to have a robust carbon black market infrastructure is bound to take the market forward.

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However, silica is getting promoted as an alternative in the tire manufacturing industry. This can be a possible detractor for the carbon black market. Massive use of carbon black has been deemed carcinogenic recently which is pushing manufacturers to rethink their strategy. At the same time, controlled application in the construction sector is hogging the light which can steer away from the carbon black market from any continuing plummets in the foreseeable future.

Segmentation:

The global carbon black market, as discussed in the report, can be segmented by type, function, and end-user.

Based on the type, the carbon black market can be segmented by furnace black, channel black, thermal black, acetylene black, and others. Furnace black segment is the dominant one.

Based on the function, the carbon black comprises reinforcement and pigments. Reinforcement segment is helming the market and is expected to that with the highest CAGR during the forecast period.

Based on the end-user, the carbon black market can be segmented into tire, non-tire, paints & coatings, inks, plastics, and others. Tire segment is getting maximum focus at present.

Regional Analysis:

Based on a region-specific analysis of the carbon black market, the report reveals namely North America, Asia Pacific (APAC), Europe, Latin America, and Middle East & Africa (MEA).

The APAC is accounted for the maximum market revenue, and its dominance is expected to remain the same during the forecast period. The region has several manufacturing companies devoted to the production of tire, rubber, plastics, and ink which are fueling the demand for the carbon black. At the same time, an increasing amount of disposable income has ensured further growth. India, China, South Korea, and other countries from the region are creating a safe passage for the market’s future growth.

North America and Europe are also making significant progress. Their combined effort yields 35% of the entire market revenue. The MEA market and the LATAM market are also recording significant growth due to which the prospects for the global market are looking brighter.

Competitive Analysis:

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

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In November 2018, Orion Engineered Carbons announced that they had reached an agreement in their bid to buy acetylene carbon black manufacturer Société du Noir d'Acétylène de l'Aubette. The company is also planning to extend their business capacity to Ravenna, Italy which would give them a considerable edge over their peers.

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 In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.

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