Carbon Black Market - Overview Cost Structure Analysis Growth Opportunities and Forecast to 2023
Posted: Nov 03, 2018
The global carbon black market is expected to grow from USD 11.11 billion in 2017 to USD 17.58 billion by 2026, at a CAGR of 5.2% during the forecast period acording to a study published by Polaris Market Research.
Carbon black finds its applications as majority of it is reinforced material into vulcanized rubber components, which is nearly over sixty percent devoted only for manufacturing of tires for motor vehicles only. The special blacks introduced in the Carbon Black Market in the last decade command for significantly higher prices per kilogram as compared to the commodity blacks. The special blacks are still in their developing stage of product cycle and manufacturers have been investing considerably on research and development activities.
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Inks, paints, coatings, plastics etc, are some of the most used components in the construction and infrastructure industry, which has been witnessing strong growth for Carbon Black Market in the developed countries and above an average growth rate in the emerging nations especially in Asia Pacific. Latin America’s construction sector is a booming market for the past three to four years owing to shift in manufacturing base from the U.S. mainly. The Asia Pacific region has been developing itself as a manufacturing hub with certain economic efforts from countries such as India, Japan, South Korea and the South East Asia countries.
Presence globally leading car manufacturers such as Japan and South Korea in the region has led to the development of the rubber and especially tire manufacturing base in the region. India and China’s tire manufacturing industry has witnessed significant growth since 2010. Both the countries has been a major exporter not only within the region but also to other geographies worldwide. Owing to these factors demand for carbon black has also experienced significant growth in terms of consumption. Production of carbon black India is also growing.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Carbon Black Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Competitive Landscape and Key Vendors
Asia Pacific Carbon Black Market is expected to emerge as the largest regional market by 2026. Presence of a fairly established automobile manufacturing base in many nations of the region along with India’s increasing automobile production along with the other Southeast Asian countries are the major factors driving the tire industry and hence demand for carbon black.
Several research and development projects undertaken by many industry participants along with universities have been the major factors for the developing enhanced quality carbon black market of the region. Presence of a well established automobile and tire manufacturing base in the U.S. and significantly growing automobile production especially in Mexico and Canada apart from the U.S. are the major factors driving the North American industry.
Some of the leading industry participants in the Carbon Black Market include Cabot Corporation, PJSC, Shandong Huadong Rubber Materials Co., Ltd., Asahi Carbon Co., Ltd., Suzhou Baohua Carbon Black Co., Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Shandong Lion King Carbon Black Co., Ltd., Himadri Chemicals & Industries Ltd., Longxing Chemical Stock Co, Ltd., Ralson Goodluck, Mitsubishi Chemical Corporation, SID Richardson & Energy Co., China Synthetic Rubber Corporation, OCI Company Ltd., Jiangxi Cat Inc., Ltd., OMSK Group OOO, Tokai Co., Ltd., Phillips Black Limited, Orion Engineered S.A., Thai Carbon Black Public Company Limited, and Cabot Corporation.
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.