Based on a report published by Grand View Research, Inc.; the global carbon black market is anticipated to achieve around USD 253.1 million by 2020. Increasing demand for synthetic textile fiber due to decreasing cotton production can propel the market during the forecast period (2012 to 2020). Rising usage of carbon black in rubbers and tires can further boost the product demand in the forthcoming years.
Applications of carbon black as a coloring agent in textile manufacturing is projected to have a positive impact on the growth of the market. Carbon black enables high color fatness and consistent appearance for the fibers. It also enables pigmentation and ultraviolet (UV) protection for coating applications used in aerospace, marine, decorative, and wood among other industries. Carbon black is used as a pigment in auto-parts. This factor is expected to reduce the product demand over the forecast period.
Rising importance for high tensile strength, minimum color migration, and less environmental impact in textile manufacturing fiber can drive the carbon black market. The product improves tensile strengths and reduces wear and tear degradation in textile fibers. Demand for high quality fabrics in defense, sports, and industrial clothing is expected to further boost the market. The military application segment is expected to register high demand for carbon black due to its ability to improve color requirements, decrease infrared radiation criteria, and improve serviceability. This trend is likely to impel the market growth during the forecast period.
Full Research Report On Carbon Black Market Analysis: https://www.grandviewresearch.com/industry-analysis/carbon-black-market
Tire manufacturers are constantly engaging in product developments to meet regulatory norms, environmental safety standards, and evolving requirements of the consumers. Carbon black is added to rubber as a filler and strengthening agent. It helps to increase the life of tires by dissipating the heat away from the tread and belt area. The material is also used in the electronics industry owing to its exceptional electricity conducting properties. Carbon black is also used as an antistatic agent which is used as an additive for fuel caps and pipes for automobiles. This wide range of applications is anticipate dot propel the market for carbon black during the forecast period.
However, the International Agency for Research on Cancer (IARC) has recognized that carbon black affects human health and environment. This is expected to restrain the market growth in near future. The material is manufacture through partial combustion of hydrocarbons. So, growing concerns about exhausting the crude oil reserves coupled with instable prices of petrochemicals can also challenge the pricing and profitability in the years to come. In addition, Silica and other silanes are developed as the main replacements for carbon black due to their environmentally friendly nature and better performance. This has increased the use of silica in the making of tire.
The worldwide carbon black market can be segmented on the basis of product, end-use, and regions. Based on product, the market can be categorized into polyester, nylon, acrylic, and others. As per end-use, the market can be classified into home textiles, apparels, and others. The polyester textile fiber segment is likely to grow at a CAGR of around 6.2% from 2014 to 2020. Growth of textile sector in developing regions like Asia Pacific and Latin America can impel this growth.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, and rest of the world (RoW). In 2013, Asia Pacific held the largest market share with over 57.6%. The region is expected to showcase rapid growth at around 6.3% CAGR during the forecast period. Improving income levels in developing countries like China and India can be associated with the growth of the textile industry, driving the regional market in the forthcoming years.
The Europe market for carbon black is anticipated to grow at a projected CAGR of around 5.5% through 2020. This growth can be accredited to growing demand for synthetic textile for the production of military clothing, apparel, and home textiles like rugs, bedding, and carpets.
The North American carbon black market is expected to grow at a steady CAGR on account of high demand for synthetic fibers in clothing, military clothing, and in-home textiles including bedding, mats, and rugs.
Some of the top players operating in the global carbon black market include Birla Carbon, Sid Richardson Carbon & Energy Co., Mitsubishi Chemical Corp., Orion Engineered Carbons, and Phillips Carbon Black Ltd., among others. The market is extremely competitive and most manufacturers are making high investments in research and development to produce high-quality products.
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