The report “Carbon Black Market by Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), Application (Tire, Non-Tire Rubber, Inks & Coating, Plastic), Grade (Standard Grade, Specialty Grade), and Region – Global Forecast to 2021″, The carbon black market is projected to reach USD 13.79 Billion by 2021, at a CAGR of 4.6% between 2016 and 2021.
The carbon black market is driven by the increasing demand for carbon black in tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint industries.
Carbon black is a para crystalline form of carbon, produced by incomplete combustion or thermal decomposition of heavy petroleum products or natural gas in the absence of oxygen. It is majorly used as reinforcing filler in tires and other rubber products and as colour pigments in plastics, paints, and inks. There has been growing demand for carbon black from end-use industries such as tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint.
Download FREE PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=260675017
In 2015, the U.S. Environmental Protection Agency (EPA) presented carbon pollution Standards to cut carbon emissions from new, modified, and reconstructed power plants. These EPA regulations forced several North American manufacturers to shift their manufacturing plants towards Asia-Pacific. The growing demand in end-use industries such as tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint is expected to drive the demand for carbon black, globally. The demand for carbon black is increasing from the tire industry as it improves the life span of tires by conducting heat away from the tread and belt area of tires. In addition, it optimizes the properties of tires such as handling, fuel mileage, tread wear resistance, abrasion resistance, and hysteresis.
Furnace black is the fastest-growing type in the overall carbon black market. The use of furnace black (a type of carbon black) is increasing as its manufacturing process enables mass production with different particle sizes and structures. In addition, furnace black can be used for various applications, ranging from rubber reinforcement to coloring.
Asia-Pacific is the fastest-growing market for carbon black, followed by Europe. The high demand in the Asia-Pacific region can be attributed to the rising consumption of tires, rubber, and plastic products. The carbon black market in Asia-Pacific is projected to witness highest growth during the forecast period due to the easy availability of feedstocks such as petroleum based crude oil, coal tar, mineral/vegetable oils, acetylene gas, and natural gas in the region.
Request FREE Sample Pages @ https://www.marketsandmarkets.com/requestsample.asp?id=260675017
Rising demand for carbon black from Asia-Pacific expected to be a key factor driving the growth of the global carbon black market
Asia-Pacific is estimated to be the leading market for carbon black. China is estimated to be the largest market and is projected to be the fastest-growing market for carbon black during the forecast period. India, Japan, and Thailand are other major countries contributing to the growth of the carbon black market in the region. The increasing demand of carbon black from end-use industries such as tire, rubber, and plastic is expected to drive the carbon black market in these countries.
Expansion was a key strategy adopted by the major players to achieve growth in the global carbon black market between 2014 and 2016. Some of the major players in the carbon black market include Cabot Corporation (U.S.), Thai Carbon Black Public Company Limited (Thailand), Orion Engineered Carbons SA (Luxembourg), Jiangxi Black Cat Carbon Black Inc., Ltd. (China), China Synthetic Rubber Corporation (China), Phillips Carbon Black Limited (India), Tokai Carbon Co., Ltd. (Japan), Sid Richardson Carbon & Energy Co. (U.S.), Omsk Carbon Group OOO (Russia), OCI Company Ltd. (South Korea) and Mitsubishi Chemical Corporation (Japan). Besides expansions, companies also adopted acquisitions and new product developments as strategies to expand their product portfolio, strengthen their distribution network, and extend their reach to their customers.