2019 Carbon Black Market - Latest trends, Growth and Forecast up to 2025
The Global Carbon Black Market is
expected to grow steadily during the forecast time span. Carbon black primarily
contains over 95% of pure carbon along with oxygen, nitrogen and hydrogen, and
these particles usually range from 10 nm to 500 nm in terms of size. It is
produced by partial combustion or thermal decomposition of liquid or gaseous hydrocarbons
under organized conditions.
Carbon black market will be driven
by thriving tire industry which is boosted by rising automobile sales. The
automobile sales will continue to remain on higher side due to increasing
population and higher disposable income levels. Such trends along with
supportive investments will propel the tire industry, thereby bolstering the
carbon black market in near future. Rising global rubber production will
positively influence the production of rubber goods. According to Malaysian
Rubber Board, worldwide rubber production has increased by approximately 21%
from 2010 to 2017.
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Large
scale investments in construction industry is another key factor contributing
to the market growth all over the world. The positive outlook of construction
industry will bolster the paints and coatings market. The global coatings
market witnessed growth by around 4% in 2017 and such growth trends will remain
solid in future. These factors will trigger the carbon black market within the
forecast period.
The market
growth will be affected by carcinogenic content present in carbon black. It
poses risk of lung cancer and respiratory discomfort due to high concentration
exposures. The other factor hindering its market growth is the availability of
substitutes such as silica and food waste. The usage of food waste
significantly reduces the environmental concerns.
Based on type,
carbon black is classified into furnace black, thermal black, acetylene black,
lamp black and channel black. Furnace black is produced by partial combustion
of petroleum oil or coal oil in refractory chambers. Thermal black is produced
by decomposition of hydrocarbons in heated refractories in absence of air.
Acetylene black is produced by thermal decomposition of acetylene gas in
refractory chambers without any involvement of air. Lamp black is produced by
soot collection obtained from fumes of pine wood or burning oils. Channel black
is produced by combining partially combusted fuel with channel steel.
Based on
application, the market is segmented into tires and rubber goods, coatings,
polymers, printing, and electronics. In tire, carbon black is used as a
reinforcing agent in various components such as inner liners, sidewalls and
treads. Moreover, it is used in membrane roofing, industrial rubber goods,
automotive rubber parts including sealing systems, anti-vibration parts and
hoses, and general rubber goods including belts, gaskets, seals and hoses. It
is used as a pigment in coatings and plastic manufacturing, while enhancing the
performance of materials in terms of viscosity, conductivity, static charge
control and UV protection. It is used in electronic equipment such as display
components, OA rolls and magnetic recording materials for provision of stable
resistance.
Asia Pacific
will capture significant market share in global carbon black market owing to
growing tire and construction industry. Developing economies such as China and
India are spending huge amounts of money for the development of residential,
commercial and infrastructure buildings. North America and Europe will witness
steady growth due to increased production of tire and rubber goods. Increasing
demand for personal vehicles in this region will propel the tire and rubber
goods industry as well as paints and coatings industry. Such trends will
catapult the demand of carbon black over the forecast period.
Some of the key players in carbon
black market are Orion Engineered Carbons, Birla Carbon, Cabot Corporation,
Philips Carbon Black Ltd., Tokai Carbon Co., Ltd., Continental Carbon Company,
Black Bear Carbon B.V., Longxing Chemical Group, Shandong Huadong Rubber
Materials Co., Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Mitsubishi
Chemical Corporation, OMSK Carbon Group, and Imerys Graphite & Carbon
Switzerland SA.
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2019 Carbon Black Market - Latest trends, Growth and Forecast up to 2025
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Reviewed by GMI
on
July 15, 2019
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