Global Carbon Black Market is estimated to grow at a CAGR of 4.51% during 2020-2026 and segmented into Process Type, Application and By Region
SOUTHLAKE, TX, UNITED STATES, November 11, 2019 /EINPresswire.com/ — The Carbon Black Market outlook by OG Analysis forecasts the upcoming trends and drivers with strong influences drawn from innovating automotive and transport industry. Carbon black market growth is estimated to grow at a CAGR of 4.51% during the forecast period 2020-2026 driven by consumption across automotive assembling applications.
Carbon Black market overview and scope
Major OEMs of aerospace and automotive are relying on carbon black market to impart durability and strength to tires and other automotive parts. Carbon black accounts for 80 percent of the cost of every tire manufactured.
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In addition, carbon black is the predominant reinforcing agent used to improve the processing, strength, and durability of elastomer-based composites in most rubber applications.
Globalization, shifts in the manufacturing base for low-cost production and consolidation of key vendors with regional expansion are amidst the emerging market trends contributing towards medium to long term market growth.
Carbon Black market scope is segmented as key process types including Lamp Black, Furnace Black, Gas Black, and Thermal Black and as the key market applications comprising of Tire and Industrial Rubber Product, Paints and Coatings, Toner and Printing Ink, Textile Fiber, Plastic.
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Carbon Black market drivers and challenges
The strong market penetration of specialty carbon blacks from key end-users such as Plastics, Inks, and Paints & Coatings as well as emerging applications in the field of metallurgy is propelling specialty carbon black market growth.
In addition, the OEMs of rubber and motor vehicle industries are increasingly targeting the use of specialty carbon black over benefits of higher profit margins and no cyclical risks.
Recycled carbon black is also entering market share to cater the demand for cost-effective and sustainable alternative to petroleum carbon black. In particular carbon black recycled from pyrolysis is in the range of 30-35% fulfills the demand of tire manufacturers.
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However, the trend of substituting carbon black with silica and other silanes large slows down the market growth. Silica and Silanes are adapted on a larger scale to meet the criteria of green tires production. The reinforcing of tires with silica and silanes reduces fuel consumption by 7-5 % and thus lowers CO2 emissions.
In addition, crude oil price fluctuation has a major impact on the pricing of carbon black market, following this crude oil prices increase the cost of production and reduces the profit margins of manufacturers of carbon black.
By Application, Carbon Black market trends
Tire manufacturing emerges as a leading market shareholder, followed by processing of rubber compounds with high performing properties. The presence of broad portfolio of low carbon black products for conductive, reinforcing and semi-reinforcing to cater the needs of stringent performance specifications and quality certifications creates key market growth opportunities.
Regional Carbon Black market growth opportunities
Based on regional synopsis, Asia Pacific is observed to contribute towards major carbon black market share with China and India as frontier players. The market participants are undergoing strategic changes such as revising product pricing based on sources of carbon black. For instance, in July 2019, Birla Carbon, a leading supplier of carbon and flagship businesses of US$ 48.3 billion changed all North America contract price formulas of carbon black sourced from marine fuel.
Further, continued expansion in the tire and auto locomotive industries, high economic growth along with rapid industrialization in the emerging regions of Asia Pacific is boosting carbon black market growth. The carbon black market is growing at a rapid rate in China with increasing downstream demand across construction, automotive, and industrial sectors during the forecast period.
Whereas, market players in North America are entering into joint ventures to establish new facilities across the region. Recently, Pyrolyx and Reklaim Inc entered into a venture to commercialize Pyrolyxs’ technology on large scale driven by strong consumer base and supportive project financing to built plants.
Competitive landscape of Carbon Black market trends
For sustainable manufacturing and product differentiation market players are investing in M&A activities, for example, recently, Klean acquired Carbon Resources Recovery GmbH to reinforce Klean’s leadership in the production of high-quality recovered carbon black (rCB) and capitalize on market share.
Furthermore, key market players are investing in expanding product portfolio to capitalize on the market share. For instance, Cabot Corporation offers semi-reinforcing products for tire carcass and general-purpose industrial rubber product applications such as Sterling, Spheron and Regal carbon black.
Key carbon black market players include Asahi Carbon Co. Ltd, Birla Carbon (Aditya Birla Group), Phillips Carbon Black Ltd, Orion Engineered Carbon, Cabot Corporation, Jiangxi Black Cat Carbon Black Co. Ltd, Abu Dhabi National Oil Company (ADNOC), Himadri Chemicals and Industries Ltd, Longxing Chemical Stock Co. Ltd, and Nippon Steel Carbon Co. Ltd
• Carbon Black Materials Market
• Specialty Carbon Black Market
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Source: EIN Presswire