iCrowdNewswire Mar 4, 2021 3:10 PM ET
According to the latest report by IMARC Group, titled “Global Carbon Black Market Analysis Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global carbon black market size reached US$ 12.1 Billion in 2019. Carbon black refers to a material that is composed of fine particles comprising primarily of carbon, along with small amounts of hydrogen, oxygen, sulfur and nitrogen. It is produced by extremely controlled processes of thermal decomposition or partial combustion of oil and gases. Characterized by heat stability and strong tint properties, it is widely utilized for numerous applications across diverse industry verticals. It is used as a rubber-reinforcing additive in the production of numerous rubber products to dampen earthquake vibration and as ink for printing newspaper and as ink-jet toner owing to its high coloring power. Apart from this, it is also used in the manufacturing of car fenders, magnetic tapes, semiconductors, heat-molded plastics, and coating for electric wires.
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Global Carbon Black Market Trends:
The global market is primarily driven by the escalating demand for high-performance rubber products in the automotive industry. Carbon black is widely used, along with different types of rubber, for customizing the performance of tires. It is also employed for providing strength and offering longevity to various extruded and molded industrial rubber products, including springs, belts, hoses and gaskets. Additionally, considerable growth in the construction sector, owing to the growing population, has led to the rising demand for industrial rubber and other related equipment. Furthermore, manufacturers are continually engaging in the development of specialty-grade carbon black using sustainable manufacturing methods. For instance, post-industrial carbon black and recycled polymers have been extensively utilized by the US-based Cabot Corporation in their recently launched new black masterbatch series. This is expected to aid plastic producers in meeting sustainability targets and lower their carbon footprint. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 14.9 Billion by 2025, expanding at a CAGR of 3.5% during the forecast period (2020-2025).
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Key Market Segmentation:
Market Breakup by Type:
1. Furnace Black
2. Channel Black
3. Thermal Black
4. Acetylene Black
On the basis of the type, the market has been divided into furnace black, channel black, thermal black, acetylene black and others. Among these, furnace black represents the largest segment in the market.
Market Breakup by Grade:
1. Standard Grade
2. Specialty Grade
Based on the grade, the market has been bifurcated into standard and specialty grades.
Market Breakup by Application:
2. Non-Tire Rubber
4. Inks and Coatings
On the basis of the application, the market has been categorized into tire, non-tire rubber, plastics, inks and coatings, and others. Among these, tire represents the largest segment in the market.
Market Breakup by Region:
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
On the geographical front, Asia Pacific holds the leading position in the market. Other regions include Europe, North America, Middle East and Africa, and Latin America.
The competitive landscape of the market has been analyzed with the detailed profiles of the key players operating in the market. Some of these key players include Cabot Corporation, Thai Carbon Black Public Company Limited (Birla Carbon), Orion Engineered Carbons GmbH, Phillips Carbon Black Limited, TOKAI CARBON CO., LTD., Omsk Carbon Group OOO, Jiangxi Blackcat Carbon Black Inc., Ltd., OCI COMPANY Ltd., China Synthetic Rubber Corporation, and SID Richardson Carbon & Energy Co.
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