The global carbon black market was valued at USD 11.67 billion in 2016 and is projected to reach USD 17.35 billion by 2025, growing at a CAGR of 4.5% from 2017 to 2025. Carbon black is manufactured by incomplete combustion of heavy petroleum products such as coal tar, FCC tar, and ethylene cracking tar and in small quantities from vegetable oil. Their ability to spread on the surface and provide the much needed strength is expected to boost its application in tire and rubber applications.
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1. Market Drivers
1.1 Rising consumption in plastics & coatings industry
1.2 Growth in rubber industry
2. Market Restraints
2.1 Volatility in raw material prices
2.2 Substitution with silica in tires
The global carbon black market is segmented on the basis of product, application, grade and region.
1. By Product:
1.1 Channel Black
1.2 Furnace Black
1.3 Thermal Black
1.4 Acetylene Black
2. By Application:
2.2 Non-tire rubber
2.4 Inks & Coatings
3. By Application:
3.1 Standard Grade
3.2 Specialty Grade
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Thai Carbon Black Public Company Limited
2. Cabot Corporation
3. Orion Engineered Carbons S.A.
4. Phillips Carbon Black Limited
5. Toray Industries
6. Tokai Carbon Co., Ltd.
7. OMSK Carbon Group OOO
8. Jiangxi Black Cat Carbon Black Inc., Ltd.
9. OCI Company Ltd.
10. China Synthetic Rubber Corporation
11. Mitsubishi Chemical Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the global carbon black market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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