New York City, 06 February 2019: The
global Carbon Black Market is anticipated to reach USD 17.58 billion by 2026 according
to a new study published by Polaris Market Research.
Increasing
demand for carbon black from the end-use industries has driven the carbon black
market. The primary use of carbon black includes reinforcement agents in rubber
compounds mainly in tires, as black pigment in surface coatings, printing inks,
plastics and paper. The thermal and oil furnace process are primarily the
leading technology types used for manufacturing of carbon black. Product demand
for manufacturing of tires for automobiles has been the largest end use segment
driving the carbon black market. The increasing yearly production of vehicle
units has led to a significantly increasing demand for tires which ultimately
has influenced demand for carbon black. Tire rethreading is yet another
parallel source for increasing demands of tire materials as it uses the same
materials. Innovation and technological developments within the tire
manufacturing industry is likely to impact product quality material
specification as well.
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The other
sectors making use of the product would include printing inks, plastics and
coatings etc. however tough in a comparatively less amount. Paints, coatings,
plastics etc, are some of the most used components in the construction and
infrastructure industry, which has been witnessing strong growth in the
developed countries and above an average growth rate in the emerging nations
especially in Asia Pacific. Latin America’s construction sector is a booming
market for the past three to four years owing to shift in manufacturing base from
the U.S. mainly. These factors are anticipated to eventually impact demand for
the product indirectly as its end-use components finds higher application
within different set of industries.
Competitive Landscape and Key Vendors:
Asia Pacific
carbon black market is expected to account for the maximum demand for these
products in the next eight years. With increasing production of vehicles in the
region especially in China, Japan, India, Korea and even Australia demand for
these products are anticipated to grow even higher. North America was also a
potential market in terms of production of carbon black. Consumption of these
products have been also been seen increasing on a yearly basis.
Some of the
leading industry participants in the carbon black market include Cabot
Corporation, PJSC, Shandong Huadong Rubber Materials Co., Ltd., Asahi Carbon
Co., Ltd., Suzhou Baohua Carbon Black Co., Ltd., Nippon Steel & Sumikin
Chemical Co., Ltd., Shandong Lion King Carbon Black Co., Ltd., Himadri
Chemicals & Industries Ltd., Longxing Chemical Stock Co, Ltd., Ralson
Goodluck , Mitsubishi Chemical Corporation , SID Richardson & Energy
Co. , China Synthetic Rubber Corporation , OCI Company Ltd. ,
Jiangxi Cat Inc., Ltd. , OMSK Group OOO , Tokai Co., Ltd. ,
Phillips Black Limited , Orion Engineered S.A. , Thai Carbon Black
Public Company Limited, and Cabot Corporation.
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