Carbon Black Market is expected to reach at a 4.59% CAGR through 2018 to 2023
Highlight: According to Market Research Future Report, The Global 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.
Carbon Black is composed of fine particles produced by thermal decomposition of oils or gases. The particle size, shape and structure decide the characteristics of carbon black. It has excellent mechanical properties and abrasion resistance. The Carbon Black Market globally is demonstrating positively notable growth. The sector is expected to achieve a massive gain in its market share size and will continue its growth trend with a stellar CAGR percentage. This trend is expected to favorably lay down a conducive path for future growth in this sector.
The Carbon Black Market 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.
Relative Industry News: In, Dec 2017 - Orion Engineered Carbons, a supplier of specialty carbon black, completed construction of a new carbon black production line at its plant in Yeosu. The line started production Nov. 23 and has begun commercial sales. The new line will produce specialty carbon black for customer applications such as automotive coatings, engineered plastics, printing inks and adhesives and sealants.
Global Competitors: The prominent key players functioning in the Global Carbon Black Market are; Phillips Carbon Black Limited (India), Tokai Carbon Co. Ltd. (Japan), Cabot Corporation (U.S.), Thai Carbon Black Public Company Limited (Thailand), Orion Engineered Carbons SA (Luxembourg), Jiangxi Black Cat Carbon Black Inc. Ltd. (China), China Synthetic Rubber Corporation (China), Mitsubishi Chemical Corporation (Japan), and Aditya Birla Group (India).
Segmentation: The Carbon Black Market is segmented on the basis of Region, Application, Type, and Grade; By Region, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa, On the basis of application; Polymers, Inks and Paints, Tires, Electrical & Electronics, Automotive, and Aviation. On the basis of type; Furnace Black, Thermal Black, Acetylene Black, and Lampblack. And on the basis of grade; Standard, and Quality.
Regional Analysis: The Carbon Black Market is segmented across five regions in the world namely:
• Asia Pacific,
• Europe,
• North America,
• Latin America,
• the Middle East & Africa.
The Asia Pacific is estimated to hold the major share in the market during the forecast period due to its growing consumption of carbon black in major industries such as inks & paints, electrical & electronics, and others.
The Middle East & Africa is estimated to observe a rapid growth in the market due to its increasing consumption of acetylene black in electrical & electronics industries. A significant growth is predicted in the Latin American region due to growing production of carbon black for aviation, automotive, electrical & electronics industries.
The European region is predicted to witness a rapid growth in the market due to growing usage of the furnace black in the rubber and tires industries. The carbon black market is predicted to observe a significant growth due to its growing popularity of thermal black segment in the polymer industry.
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