Global Carbon Black Market research report project that the Carbon Black Market is likely to register a healthy CAGR of ~4.59% during the review period from 2017 to 2023 and is estimated attain a market size of USD 17.23 billion by value till 2023.The market is has witnessed yet another significant year with robust growth during 2016-2017 due to revived demand from the major end-use industries such as tire, paints & coatings, and plastics. This growth trajectory is primarily attributed to rising usage of carbon black in tire manufacturing, widening application scope of Carbon Black in plastics and paints & coatings, and increased demand from various end-use industries such as automotive and aerospace.
The tire manufacturing application is the largest consumer of the product, which has been dominating the demand for the product from the last few years. Major emerging countries in Asia Pacific region are the major contributors to the robust growth of the market such as China, India, South Korea, and Brazil. This is mainly attributed to the increasing investment in tire and rubber making industry, and substantial growth of the automotive and construction industries. However, the market is challenged by changing regulations resulting in replacement of Carbon Black with silica as a reinforcing agent in tire manufacturing. Nevertheless, bolstering automotive aftermarket and construction sector in emerging economies is posing as an important opportunity for further growth of the market.
Mitsubishi Chemical Corporation, Cabot Corporation, OCI COMPANY Ltd., Orion Engineered Carbons, Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, JINNENG, Himadri Speciality Chemical Ltd., ChemChina, Sid Richardson Carbon and Energy Co. Ltd., Kremenchug Carbon Black Plant, Shandong Huadong Rubber Materials Co., Ltd., NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., Suzhou Baohua Carbon Black Co., Ltd., and Jiangxi Black Cat Carbon Black Inc., Ltd. are some of the market players.
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The report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives.
The report provides in-depth information on the recent market scenario, historical market trends, and correlations between the market dynamics and forecasts. The market size report covers both the parameters of the market, i.e., market by value and volume. Along with market size, the study segments the Carbon Black Market based on process type, function, end-use, and region, delivering actionable insights. This section helps the report users to identify the segments that are highly lucrative and capitalize on growth opportunities while minimizing risks. The report also explores market dynamics such as drivers, trends, opportunities, and restraints, impacting the growth of the market segments. The section also sheds light on the key micro and macroeconomic factors influencing the growth of the market.
The market by process type is segmented into furnace black, channel black, thermal black, acetylene black, and others. Furthermore, the estimation of the market for the function segment is done through the reinforcement and pigments. The end use taken into consideration in this market includes tire, non-tire, paints & coatings, inks, plastics, and others. All the segments and sub-segments are profiled under five major geographies: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, with the respective country-level market sizes. For the scope of the research, the definition of the product “Carbon Black Market” is also included in the report. The report discusses the current and future prospects of the market and delivers an unbias growth assessment.
MRFR applied an innovative and fail-safe research methodology to compile this market research report. Statistical conclusions drawn in the report are the result of an exhaustive investigation and analysis of the key market elements. A multi-level data collection procedure, which includes both primary and secondary research inputs ensures the delivery of an impactful intelligence. To support the statistical findings and projections, full-scale industry extensive primary research was conducted to gain a deeper insight of the market and industry performance. Primary research includes surveys and interviews with the key personnel from the manufacturers/ supplier (VPs, CEOs, Marketing Directors, Business Development Managers and others) in the market. Additionally, the primary data collected from manufacturers is verified with the primary research information collected from distributors, wholesalers, and end users. Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the Carbon Black Market.
The market size estimation was done using both Top-down and bottom-up approach to estimate market values and volumes for respective segments and countries. Other than this, the market sizes were also calculated based on black carbon consumption by the end-user industry and market share analysis of the most competitive players in the market. Revenue and demand forecasting were done through historical analogy, weighted moving average, time series analysis, panel consensus, and exponential smoothening methods. MRFR is committed to providing market data that is highly relevant and factually correct and helping stakeholders to develop cohesive growth strategies.
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