A study by Triton Market Research with the title ‘Global Carbon Black Market,’ covers the Global Analysis and Forecast for 2019-2028 by Process Type (Thermal Black, Lamp Black, Gas Black, Furnace Black), by Application (Tire & Industrial Rubber, Textile Fiber, Plastic, Paints & Coatings, Toner & Printing Ink, Other Applications), and by Geographical Region (North America, Asia-Pacific, Latin America, Middle East and Africa, Europe).
Carbon black is a product formed by the incomplete burning of hydrocarbons. It is used in different application sectors, including automobiles, construction, electronics, packaging and textiles.
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According to the report, the global carbon black market is expected to generate a revenue of $16.11 billion by the year 2028, showcasing a CAGR of 3.36% over the projected years between 2019 and 2028.
There is an increasing demand for carbon black from different applications, like the tire and plastic industry, which is driving the growth of the global market. Using carbon black in the manufacturing of rubber has been shown to enhance its quality. Due to its characteristics like cost-effectiveness, durability, lightweight, corrosion resistance, flexibility and low maintenance, carbon black is used as a highly versatile component in the plastic industry. However, the growing regulations set by different organizations regarding the production of this substance are hampering the growth of the global market.
The carbon black market is primarily segmented as process type and application. The first segment, process type, divides into thermal black, lamp black, gas black and furnace black. The second segment, application, includes tire & industrial rubber, textile fiber, plastic, paints & coatings, toner & printing ink and other applications.
The Asia-Pacific is speculated to be the fastest-growing region in the global carbon black market in the projected period. The rising application of carbon black in tire production is one of the primary drivers of the market growth. Moreover, South Korea is a leading exporter of tires in the world. The rising exports of tires are leading to the growth of domestic tire manufacturing. Carbon black is used in tire production for enhanced efficiency and increasing tire life. Hence, the increasing production of tires is expected to increase the adoption of carbon black in the country. Moreover, several new synthetic rubber production facilities are being set up in the country, which is likely to create more opportunities for the growth of the carbon black market over the forecast period.
Some of the prominent companies in the carbon black market are Cabot Corporation, Jiangxi Black Cat Carbon Black Co Ltd, Himadri Chemicals Ltd, Atlas Organics Private Limited and Tokai Carbon Co Ltd, Birla Carbon, Asahi Carbon Co Ltd, Mitsubishi Chemical Holdings Corporation, NNPC (Nigerian National Petroleum Corporation), Orion Engineered Carbons GmbH, OCI Company Ltd, Abu Dhabi National Oil Company, Imerys, Omsk Carbon Group and Philips Carbon Black Limited.
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Question & Answer: Carbon Black Market
Question 1: What is driving the growth of the carbon black market?
Answer: There is an increasing demand for carbon black from different applications, like the tire and plastic industry, which is driving the growth of the global market. Using carbon black in the manufacturing of rubber has been shown to enhance its quality. Due to its characteristics like cost-effectiveness, durability, lightweight, corrosion resistance, flexibility and low maintenance, carbon black is used as a highly versatile component in the plastic industry.
Question 2: What factors are hampering the growth of the global carbon black market?
Answer: The growing regulations set by different organizations regarding the production of this substance are hampering the growth of the global market.
Question 3: Which region is likely to be the fastest-growing region in the global carbon black market.?
Answer: The Asia-Pacific is speculated to be the fastest-growing region in the global carbon black market in the projected period. The rising application of carbon black in tire production is one of the primary drivers of the market growth. Moreover, South Korea is a leading exporter of tires in the world. The rising exports of tires are leading to the growth of domestic tire manufacturing.
Carbon black is used in tire production for enhanced efficiency and increasing tire life. Hence, the increasing production of tires is expected to increase the adoption of carbon black in the country. Moreover, several new synthetic rubber production facilities are being set up in the country, which is likely to create more opportunities for the growth of the carbon black market over the forecast period.
Question 4: Which are some of the prominent companies mentioned in the carbon black market report?
Answer: Some of the prominent companies in the carbon black market report are Cabot Corporation, Jiangxi Black Cat Carbon Black Co Ltd, Himadri Chemicals Ltd, Atlas Organics Private Limited and Tokai Carbon Co Ltd, Birla Carbon, Asahi Carbon Co Ltd, Mitsubishi Chemical Holdings Corporation, NNPC (Nigerian National Petroleum Corporation), Orion Engineered Carbons GmbH, OCI Company Ltd, Abu Dhabi National Oil Company, Imerys, Omsk Carbon Group and Philips Carbon Black Limited.
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Original equipment manufacturers offer panoramic and inexpensive pop-up sunroofs or optional sunroof systems in vehicles belonging to both luxury and mid-segment. Polycarbonate glazing materials are applied on the sunroofs of these vehicles, making them weight-saving and scratch-resistant. Therefore, the increasing demand for sunroofs in cars would consequently lead to increased adoption of polycarbonate glazing materials. This is likely to boost the studied market in the projected period.
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