Carbon Black Market Size & Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Carbon Black Market


The global Carbon Black market size is projected to reach US$ 27.45 billion by 2026, from US$ 19.35 billion in 2020, at a CAGR of 6% during 2021-2026. Rising product usage in the production of plastics is anticipated to drive the global market over the forecast period. Moreover, rising usage of these plastics in electrical and electronic components will boost the product demand further. Carbon black is produced either by thermal decomposition or partial combustion method, which includes oil or natural gas as a feedstock. It is produced by four different processes, which are furnace black process, channel process, and acetylene black process, and Lampblack process.

Furnace black is the most commonly used method owing to its maximum production capacity. Industrially, it is produced by the combustion of heavy petroleum products, such as coal tar and Fluid Catalytic Cracking (FCC) tar, with vegetable oil. U.S. tire industry is expected to witness a surge in demand owing to increasing automotive sales in the country. Tire manufacturers in the region are establishing new units in the vicinity of automobile production centers. Moreover, quick adoption of advanced technologies in tire production is further expected to fuel the market growth in the region.

The country has also witnessed a rise in the refurbishing of automobiles, which is anticipated to propel the demand further. The refurbishing trend has resulted in increased demand for high-performance coatings in automotive as well as other industries, such as marine, aerospace, and industrial. The market dynamics are largely dependent on the usage of rubber, electronic discharge compounds, and inks along with several regulations formulated for manufacturing technologies and raw materials used. The market is also influenced by the regulatory laws by major North American and European government bodies. Within this industry, transportation is poised to be the dominant segment over the next seven years owing to increasing demand for tire and rubber.

The product helps improve the strength and longevity of tires by providing better abrasion resistance and tensile strength. In addition, growing construction and manufacturing sectors utilizing industrial rubber and equipment are anticipated to positively impact the product demand. Product prices are majorly based on raw materials, auxiliary materials, and utilities. The crude oil price fluctuation has a major impact on the pricing of carbon black. Some other macro-level factors influencing the price include working capital and pre-operational costs. The installation and setup, capitalized interests, project engineering and management, and commissioning costs are included under the pre-occupational costs.

Market Segmentation, Outlook & Viewpoint: Global Carbon Black Market

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Tires
  
High-performance Coatings
  
Plastics
  
Others

Key Players, Recent Developments & Regional Insights: Global Carbon Black Market

Tires emerged as the leading application segment in 2018. The product is widely used in tire manufacturing by adding it to rubber as a strengthening agent and as a filler. It is used in carcasses, inner liners, treads, and sidewalls utilizing different types based on specific performance requirements. Plastics segment accounted for 7.0% of the overall volume in 2018. Carbon blacks are widely used for films, conductive packaging, moldings, fibers, semi-conductive cable compounds and pipes in products, such as industrial bags, refuse sacks, stretch wraps, agriculture mulch film, and photographic containers. It is used in the production of conductive plastics as it exhibits antistatic and electrical conductivity properties.

Regional Insights

Asia Pacific led the global market followed by Europe and North America. Stringent environmental regulation may have a negative impact on the North America and Europe market. However, owing to the high demand in tire manufacturing is expected to support the market. High economic growth along with rapid industrialization and urbanization in the emerging regions of Asia Pacific have boosted the regional demand for carbon black. Rising foreign investments and favorable regulatory policies are also contributing to the market growth.

The region is rapidly transforming into a manufacturing hub, which has increased the demand for the material over the past few years. Major manufacturers are shifting their manufacturing facilities to countries like India, China, and Vietnam, as they have lower labor costs and support from the respective governments. Rising automotive production is also expected to drive the product demand over the forecast period. Initially, the chemical was exported to developing countries like China, but with a rise in their production capacities, the exports have reduced.

North America market is dominated by U.S., both in terms of product consumption as well as production. The demand for tires in North America has increased with a rise in the number of tires being replaced every year. Moreover, constant recovery of ongoing construction and automobiles industries giving rise to the demand for paints, coatings, and non-tire rubber will drive the market further. Plastics manufactured from carbon black are lightweight and thus help reduce carbon emission and fuel consumption.

Carbon Black Market Share Insights

Some of the key manufacturers and suppliers in the market include Evonik Industries AG, Nippon, Mitsubishi Motors Corp., Jiangxi Black Cat Carbon Black Co. Ltd., Phillips Carbon Black, and China Synthetic Rubber Corp. Most of these industry participants focus on increasing production capacities and on the development of new and sustainable technologies to produce carbon black. For instance, Cabot Corp. has set up manufacturing units in developing countries of Asia for faster and cheaper production. Collaborations with raw material suppliers and end-use manufacturers will help industry participants to gain significant market share over the forecast period.

Key Insights Covered: Global Carbon Black Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Carbon Black industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Carbon Black industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Carbon Black industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Carbon Black industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Carbon Black industry.

Research Methodology: Global Carbon Black Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other