Global Carbon Black market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 22.5 Billion by 2026.
NEW YORK, UNITED STATES, June 24, 2020 /EINPresswire.com/ — Facts and Factors report “Carbon Black Market By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tire, Non-Tire Rubber, Inks & Coating, Plastic), By Grade (Standard Grade, Specialty Grade): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Carbon Black market in 2019 was approximately USD 18 Billion. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 22.5 Billion by 2026.
Carbon black is formed by the incomplete combustion of petroleum production. It is typically used in while carrying out the production of the tyres, plastics and rubber products.
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The demand for carbon black from the tyre manufacturers is estimated to drive a carbon black industry in the forthcoming time. The tyre manufacturers use carbon black as the reinforcement agent. In the rubber industry, carbon black used as a coloring agent. The rise in the use of carbon black as a coloring agent is projected to propel the market in the forecasted period. A carbon black industry often faces challenges while procurement of raw material owing to its volatile pricing. Due to the hazardous effects of carbon black manufacturing, tyre manufacturers are slowly shifting to the used silica as a reinforcement agent.
Carbon dioxide is released in the environment while the production of carbon black. The stringent regulation on carbon dioxide emission may become hinder A carbon black growth. Increasing the requirement of UV protection and conductive plastic is estimated to spur a carbon black industry.
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According to the type, the market is segmented as acetylene black channel black, furnace black, and thermal black. The furnace black market is estimated to lead the market owing to its use as a coloring agent and reinforcement agent. According to an application, the market is bifurcated as tyre, non-tyre rubber plastic, and inks & coating. Carbon black is widely used in the tyre industry as a strengthening agent. It is used in the inner liners, sidewalls, carcasses, and treads. The use of carbon black in the tyre industry is projected to spur a carbon black industry. Apart from this the use of carbon black for the plastic black is projected to consume the second-largest market. According to the grade, the market is bifurcated as standard grade and specialty grade. Standard grade is estimated to gain the highest market share in the forecasted period due to the higher demand for the standard grade carbon black from the end-user industry.
According to the region, the market is classified into regions such as North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific region is estimated to lead the market. The demand for carbon black from tyre manufacturers is projected to s Asia Pacific growth. The competitiveness within the tyre manufacturers is estimated to thrive in the growth of production.
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The stringent government regulation by the European and North American governments is projected to suppress the growth of the regions in the forecasted period.
The leading players in the market include China Synthetic Rubber Corporation, Cabot Corporation, Orion Engineered Carbons SA, Sid Richardson Carbon & Energy Co., Tokai Carbon Co., Ltd., Birla Carbon Black Public Company Limited, OCI, Omsk Carbon Group, Jiangxi Black Cat Carbon Black Inc., Ltd., Phillips Carbon Black Limited, and Mitsubishi Chemical Corporation.
This report segments a Carbon Black Market as follows:
Global Carbon Black Market: By Type Segmentation Analysis
Global Carbon Black Market: By Application Segmentation Analysis
Inks & Coating
Global Carbon Black Market: By Grade Segmentation Analysis
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Source: EIN Presswire