Carbon Black Market Size, Share & Industry Analysis, By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tires, High Performance Coatings, Plastics, Others) and Regional Forecast, 2019-2026
What is Carbon black?
Carbon black (subtypes are acetylene black, channel black, furnace black, lamp black and thermal black) is a material produced by the incomplete combustion of heavy petroleum products such as FCC tar, coal tar, or ethylene cracking tar. Carbon black is a form of paracrystalline carbon that has a high surface-area-to-volume ratio, albeit lower than that of activated carbon.
The increasing demand for carbon black in paints &coatings is one of the key factors driving the carbon black market, says Fortune Business Insights™ in a report, titled “Carbon Black Market Size, Share & Industry Analysis, By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tires, High-Performance Coatings, Plastics, Others) and Regional Forecast, 2019-2026”.
The increasing construction and manufacturing activities is expected to accelerate the growth of the market during the forecast period.
List of the Major Companies in the Carbon Black Market are:
- Birla Carbon
- Cabot corporation
- Tokai Carbon Co. Ltd.
- Himadri Chemicals and Industries Ltd.
- Mitsubishi Chemical Holdings Corporation
- Nippon Steel Carbon
- Asahi Carbon Co. Ltd
- Jiangxi Black Cat Carbon Black Co. Ltd.
- And others.
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According to the report, the market based on application is segmented into tyres, high-performance coatings, plastics, and others. The tire application is predicted to hold a significant share in the market. The tire industry is the largest customer of carbon black due to its longevity and improved strength.
These automotive tires are used to increase tensile strength and resistance. The increasing demand for carbon black in paints & coatings and inks is expected to foster the growth of the market. Also, the growing need for carbon black in the construction and manufacturing sectors to provide strength to industrial rubber compounds is expected to aid the speedy growth of the market.
The report offers valuable insights into all the prevalent trends of carbon black market size. It shares an all-encompassing synopsis of all the segments and provides analytical statistics on the different regions of the market. It is created after extensive research followed by complete analysis to support companies, stakeholders, financers, and potential investors. It is designed to provide a vibrant illustration of the market size. Also, it includes the latest advancement and development, product launches, acquisitions, collaborations & partnerships, and others.
- Furnace Black
- Channel Black
- Thermal Black
- Acetylene Black
- High Performance Coatings
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea and Rest of Asia Pacific)
- Latin America (Brazil, Argentina, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, Saudi Arabia and Rest of the Middle East & Africa)
Escalating demand for Tyres in the Automotive Industry to Create Sale Opportunities in Asia Pacific
Geographically, the global carbon black market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the carbon black market trends. China is the major producer of carbon black in the region.
The growing demand of tires in India and China’s automotive sector will aid the expansion of the market in Asia Pacific. Furthermore, the easy availability of feedstocks such as petroleum-based crude oil, coal tar, acetylene gas and natural gas in the region will accelerate growth in Asia Pacific.
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In North America, the demand for carbon black is expected to grow owing to the surge in the refurbishment of automobiles. Furthermore, the high demand for high-performance coatings in the automotive industry is likely to create business opportunities in North America. Stringent environmental regulations by the European countries is predicted to impact the market in the region negatively. In Latin America, Mexico is predicted to hold considerable share owing to growing oil exploration activities.
Acquisition of Tech Blend by Cabot to Favor Market Growth
Cabot Corporation announced to sign a deal to purchase Tech Blend, a leading North American producer of black masterbatches, for approximately $64 million. The acquisition will help in the expansion of Cabot’s global footprint in black masterbatch and compounds. It will also provide a platform to serve global customers and grow in conductive formulations and offers Tech Blend resources and capabilities. This acquisition deal of Cabot is predicted to create lucrative business opportunities in the forthcoming years.
Furthermore, ADNOC’s new project for carbon black and calcined coke is likely to strengthen the growth of the market in the foreseeable future. For instance, The Abu Dhabi National Oil Company or ADNOC, the state-owned oil company of the United Arab Emirates, appointed a new coker unit coincided with the first production of Green petroleum coke in the UAE. Green petroleum coke will further be processed to produce either fuel oils, or calcine petroleum coke, a raw material used by the aluminum and steel industries.
Also, increasing demand from the tire industry as well as construction and manufacturing sectors to provide strength to industrial rubber compounds are factors predicted to boost the carbon black market share. However, the volatility of raw material prices and environmental concerns along with the substitution of other materials such as Silica, is expected to restrain the growth of the market.
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