Carbon Black Market to Cross Market Value of $17,230.4 Million at a CAGR of 4.59% during 2017 to 2023 | Market Research Future

Carbon Black Market Report Information by Process Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), Function (Reinforcement, Pigments), End Use (Tire, Non-tire, Paints & Coatings, Inks, Plastics, and others), and Region, Competitive Market Share, Trends, and Forecast, 2017- 2023

Pune, India, Aug. 09, 2018 (GLOBE NEWSWIRE) -- In a report recently published by Market Research Future, the firm stated that the Carbon Black Market would expand its revenues from USD 13,164.6 million in 2017 to USD 17,230.4 million by the close of the forecast period in 2023. The market for carbon black is anticipated to earn a CAGR of 4.59% from 2017 to 2023.

Market Highlights

The rising demand from end-use industries has played a substantial role in the expansion of the carbon black market globally. The amorphous nature of carbon black material has chiefly influenced its applications such as that of a reinforcing agent for tires.

The demand for carbon black is largely motivated by the robust growth being observed in the transportation and infrastructure sectors in the emerging economies globally. The incremental rise in the use of carbon black in tires is increasing the growth potential of the market greatly. The rising usage of plastics globally has also influenced the market’s growth and thereby affected the expansion of the market size considerably. Due to these factors, various market contenders are seriously focusing on the expansion of the production capacity which is propelling the growth pace of the market. The escalating demand from industries such as automotive and aerospace is anticipated to fuel the expansion of the market majorly over the forecast period.

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Latest News

• Cabot Corp. is launching a major extensive program that will expand or upgrade its production facilities in order to meaningfully increase the company's global carbon black capacity by an additional 300,000 metric tons. A bulk of the increased capacity is directed at the tire, industrial rubber, and specialty products segments.
• Himadri Speciality Chemical Ltd which is regarded as a major vertically integrated specialty carbon company in India with a market capitalization exceeding $ 1 Bn, will be devoting Rs 1000 crore to increase its carbon black business. The company will be establishing a new carbon black line in its existing integrated plant in West Bengal for making specialty carbon black.

Key Players Profiles

MRFR Recognizes some of the main Carbon Black Market contenders as Cabot Corporation, OCI Company Ltd., Orion Engineered Carbons, Phillips Carbon Black Ltd., Mitsubishi Chemical Corporation, Kremenchug Carbon Black Plant, Tokai Carbon Co., Ltd., Longxing Chemical, JINNENG, Sid Richardson Carbon and Energy Co. Ltd., ChemChina, Nippon Steel & Sumikin Chemical Co., LTD., Himadri Speciality Chemical Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Suzhou Baohua Carbon Black Co., Ltd., Shandong Huadong Rubber Materials Co., Ltd., and Jiangxi Black Cat Carbon Black Inc., Ltd.

Market Segmentation

As per the basis of segmentation identified by MRFR, the market for carbon black has been segmented on the basis of function, application, process type, and region.

On the basis of function, the segments comprise of reinforcement and pigments. The reinforcement segment is projected to control at least an 81.14 percent share of the market in 2017. This is largely accredited to the advantages offered by carbon black reinforcement to the substrate material, particularly rubber. The key benefits made accessible by the black carbon reinforcement are enhanced resilience of the material, superior wear & tear resistance, improved conductivity where required, and other significant physical properties. Furthermore, carbon black is the also the most frequently used, efficient, and cost-effective reinforcing agent as compared to silica. Thus far, the pigment segment is likely to observe a peak CAGR over the forecast period from 2017 to 2023.

By process type, the segments included are furnace black, channel black, thermal black, acetylene black and others. The furnace black is observed to be attributed with the major market share in 2017 and is expected to develop at a peak CAGR to achieve a market size of USD 10.42 billion by the year 2023. The channel black segment is another significant process type segment, which has the next largest share of the global market.

Browse the market data and information spread across 134 pages with 209 data tables and 27 figures of the report “Carbon Black Market Report - Forecast 2017-2023” in-depth alongside in-depth table of content (TOC) at: https://www.marketresearchfuture.com/reports/carbon-black-market-4701

On the basis of application, the segments involved are non-tire, tire, paints & coatings, inks, plastics and others. The tire segment is directing the market with the principal share of the carbon black market globally and is anticipated to develop at healthy CAGR through the forecast period. The healthy growth of the transportation sector overall across the globe against the setting of the revitalization of global trade is projected to favor the development of this segment.

The region-based segmentation of the market to gain a better insight into the regional market comprises of Latin America, Europe, Asia Pacific, North America, Middle East & Africa.

Regional Analysis

The major developing nations in the Asia Pacific region are the chief contributors to the healthy development of the market such as India, China, South Korea, and Japan.  The region is projected to achieve revenues worth USD 9,242.0 million by the end of 2023. The development scope of this region is primarily credited to the high penetration of the product in numerous end-use industries, speedy development and constant industrialization, and strong progress of key end users in this market. Moreover, the mounting investment in rubber making and tire industry, and the extensive growth of the automotive and construction industries are fuelling the market’s growth. Nevertheless, the market is being challenged by altering regulations resulting in substitution of carbon black with silica as a strengthening agent in tire manufacturing sector. However, the bolstering construction sector and automotive aftermarket in emerging economies are creating significant opportunities for further development of the market. Besides, the policymakers of key economies in this region are making massive investments to recover their residential and commercial infrastructure. North America is the subsequent leading region in the market, in terms of market size, in which the U.S is holding a key share of the market. The European region is a sizable region in this market in which Germany is controlling the market share due to the massive automotive production capabilities of the region. The Middle East & Africa and Latin American region are projected to grow at a modest CAGR through the forecast period.

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