Market Research Report
Carbon Black Market by Process, Grade, and Application : Global Opportunity Analysis and Industry Forecast, 2019-2026
|Published by||Allied Market Research||Product code||936090|
|Published||Content info||300 Pages
Delivery time: 2-3 business days
|Carbon Black Market by Process, Grade, and Application : Global Opportunity Analysis and Industry Forecast, 2019-2026|
|Published: February 5, 2020||Content info: 300 Pages||
The global carbon black market was valued at $17.5 billion in 2018, and is projected to reach $23.0 billion by 2026, growing at a CAGR of 3.5% from 2019 to 2026.
Carbon black is a form of para crystalline carbon, which contains 95% of pure carbon and enhances the physical and mechanical properties of material, making the end product more effective. Carbon black is widely used in manufacturing tires, plastics, mechanical rubber goods, printing inks, toners, rubber products, and pigments. It can absorb UV light and converts it into heat; hence, it finds its major application in the insulating wires and cables. In addition, it serves as a cost-effective rubber reinforcing agent.
Surge in demand for carbon black in tire and construction & manufacturing industries is expected to drive the growth of the global carbon black market. In addition, the demand for carbon black in the automotive industry is increasing, where it is used to provide strength to industrial rubber compounds and other equipment Moreover, it possesses physical properties such as high stability, solvent resistance, thermal stability, owing to which it is widely used in the paints and coating industries. However, fluctuations in raw material prices, increase in use of silica as a substitute, and environmental concerns associated with the manufacturing of carbon black are some of the factors that are expected to restrain the market growth in the upcoming years. On the contrary, increase in demand for carbon black due to its UV protection and conductive properties in plastics is expected to create lucrative opportunities for the growth of the market.
The global carbon black market is segmented into process, grade, application, and region. By process, the market is classified into furnace black, channel, acetylene black, and lampblack. Depending on grade, it is divided into specialty and conductive. On the basis of application, it is categorized into tires, coatings, plastics, printing inks, and toners. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major market players operating in the global carbon black market are BASF SE, Dow Inc., Mitsubishi Chemical Holdings, Nouryon, Dominion Colour Corporation, Asahi Carbon Co., Ltd., Birla Carbon Public Company Limited, Phillips Carbon Black Limited, Cabot Corporation, and SABIC.
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