Global Carbon Black Market Segmented By Type, Application
The global carbon black market is expected to surpass $25 billion by 2020, growing at a CAGR of over 4%. It is driven by rising demand from the tyre industry and the construction and manufacturing sectors, which use carbon black to strengthen
industrial rubber compounds and other equipment. The global carbon black market is highly competitive, with all major players investing heavily in R&D to improve the quality of their products.
The three most prominent players in the market are Birla Carbon, Cabot Corporation, and Orion Engineered Carbons. Asia-Pacific represents the largest market for carbon black in the world, with a stronghold of 37% share, wherein the majority of the demand emanates from emerging economies such as China and India because of expanding tire manufacturing facilities and growth in the construction sector. Asia-Pacific is anticipated to maintain its dominance in the market through 2020, with tire manufacturers shifting their production base to developing countries in the region. Developed economies such as the US and Western Europe are expected to display flat demand through the
The use of specialty blacks is likely to pick up faster in these regions.
Carbon black is a deep black-colored powder with reinforcing, tinting, and conductive properties utilized across various sectors. The Tyre industry is the largest customer of carbon black, which is used to improve the strength and longevity of automotive tires by increasing tensile strength and abrasion resistance. However, the global carbon black market is witnessing increased penetration of specialty carbon black, which provides sharp color and enhanced conductivity, viscosity, and UV protection.
Demand for carbon black in paints, coatings, and inks is expected to show an increase over the next five years. Demand for non-rubber applications that mainly use specialty blacks will significantly increase. Plastic and printing inks likely account for a substantial share of the demand for specialty blacks. Another emerging application area for specialty carbon black is metallurgy. Moreover, as unique blacks command higher prices than the widely used furnace blacks, they offer higher margins to suppliers. Furthermore, the demand for notable blacks is not influenced by the cyclicality in the rubber and motor vehicle industries.
The carbon black market report profiles companies such as Birla Carbon, Bridgestone Corporation, Cabot Corporation, China Synthetic Rubber Corporation, Columbian Chemicals Co., Continental Carbon Company, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Orion Engineered Carbons, Phillips Carbon Black Ltd., Sid Richardson Carbon& Energy Co., and Tokai Carbon Co. Ltd.
Drivers
Driven by rising demand from the tire industry, construction and manufacturing sectors use carbon black to strengthen industrial rubber compounds and other equipment.
Increasing demand for specialty carbon black has prompted leading manufacturers to either increase their production capacity in the segment or convert the production line from standard carbon black to specialty carbon black. Increasing investment in the tyre industry and rising demand for specialty products are anticipated to propel growth in the global carbon black market through 2020.
Challenges
Volatility in raw material prices and environmental concerns will pose significant challenges to the global carbon black market by 2020. Substitution by other materials, such as Silica, is another major restraint for the market.
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