Carbon black is a material produced by the partial combustion of heavy petroleum products such as ethylene cracking tar, coal tar, or FCC tar. Traditionally it is produced from burning organic materials such as bone or wood. It looks black as it imitates very little light in the visible part of the spectrum. It has strong tint properties, it is heat stable and ideal for film and plastic coloring. It is widely used as a reinforcing filler in tires and other rubber products. In inks, paints, and plastics it is used as a color pigment.
Growing application of carbon black in coating and plastics industries, rapid growth in the global rubber industry, increased demand for carbon black in the Asia-Pacific region, and a surge in the demand for conductive properties and UV protection in plastics are some of the major driving factors behind the growth of the market. Likewise, factors such as increasing production and sales of automotive vehicles, rising demand for carbon black from construction and manufacturing industry, and rising significance of carbon black in electric equipment and conducting components such as magnetic tapes and semiconductors are expected to improve growth of the market during the forecast period.
However, volatility in raw material prices and rising emission of CO2 in the production carbon black are some of the major factors that could hamper the growth of the market.
The study analyses global carbon black market based on type, application, grade and geography.
Based on type, the market is segmented into acetylene black, channel black, furnace black, thermal black, and others. Furnace black segment is projected to witness fast growth during the estimated timeframe. Furnace black is made by the incomplete combustion of gaseous and liquid hydrocarbons such as refinery residues or petroleum distillates, natural gas, or a mixture of oil and gas in a closed furnace or retort. It is most widely used carbon black owing to its maximum production capacity.
Based on application, tire segment dominated the market in past few years and is likely to maintain its dominance during the forecast period. An increasing adoption of carbon black as a reinforcing filler and pigment in automobile tires is major driving factors attributed to the segment growth. It helps keep heat away from the belt and tread area of the tire, which increases tire life and reduces thermal damage. In addition, rising production and adoption of automotive vehicles across the globe is expanding the growth of the market.
Based on grade, the market is segmented into standard grade and specialty grade. Specialty grade segment is expected to witness fast growth during the projection period. An increasing demand for specialty grade carbon black owing to its properties such as its ability to absorb UV light and convert it to heat is accredited to the growth of the segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific held the largest market share of global carbon black market and is likely to dominate the market over the estimated time frame. Rapid growth in the automotive, ink and coating, and rubber industry across the region is major factor behind the market growth across the region. Likewise, factors such as increasing adoption of automotive vehicles, thus surged demand in tire manufacturing is expected to contribute to the market growth in the APAC region.
The major key players of market includes Asahi Carbon Co., Ltd, Cabot Corporation, China Synthetic Rubber Corporation, Himadri Chemicals & Industries Ltd, Jiangxi Black Cat Carbon Black Inc., Ltd, Longxing Chemical Stock Co, Ltd, Mitsubishi Chemical Corporation, Nippon Steel & Sumikin Chemical Co., Ltd, OCI Company Ltd, OMSK Carbon Group OOO, Orion Engineered Carbons S.A, Phillips Carbon Black Limited, Ralson Goodluck Carbon, Shandong Huadong Rubber Materials Co., Ltd, Shandong Lion King Carbon Black Co., Ltd, SID Richardson Carbon & Energy Co, Suzhou Baohua Carbon Black Co., Ltd, Thai Carbon Black Public Company Limited (Birla Carbon), and Tokai Carbon Co., Ltd among others.
The study analyses global Carbon Black market based on type, application, grade and geography. Carbon Black market by type is segmented into acetylene black, channel black, furnace black, thermal black, and others. The furnace black segment is likely to dominate the market over the forecast period. Increased adoption of furnace carbon black material owing to its several properties is attributed to the market growth. The market finds application in tire, non-tire rubber, inks and coating, plastic, and others. The tire segment is likely to register fastest growth in years to come owing to the growing adoption of carbon black in manufacturing of tires across the globe. By grade, the market is segmented into standard grade, and specialty grade.Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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