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The global carbon black market reached a value of US$ 18.2 Billion in 2020. Carbon black is elemental carbon that is produced by partial combustion or decomposition of hydrocarbons such as oil and natural gas under controlled temperature and pressure. It mainly consists of carbon along with small amounts of hydrogen, oxygen, sulfur and nitrogen. Carbon black is most commonly produced by the furnace method that provides high yield and substantial control over the particle structure and size of the output, making it ideal for mass production. It finds wide application across various industries such as automotive and paint. It is also used as a filler and a strengthening agent in tires and several rubber products.
The growing automotive industry is one of the key factors driving the market growth. Carbon black is extensively used in the inner liners, sidewalls and treads of tires as it increases their strength and longevity. It is also applied in various extruded and molded industrial rubber products such as air springs, belts, hoses, gaskets and types of conveyor wheels and grommets. Furthermore, the flourishing construction and manufacturing sectors are also driving the market growth. These sectors extensively utilize industrial rubber and other related equipment, in which carbon black forms an integral part. Moreover, in the paints and coatings industry, it is used in jet black paints which act as a protective coating to various products. Apart from this, as the mixture of carbon black and cement results in an enhanced uniformity, surface hardness, tensile strength and compressive strength, there has been an increase in the demand for carbon black in the construction industry. Looking forward, IMARC Group expects the global carbon black market to exhibit moderate growth during the next five years.
The report has also analysed the competitive landscape of the global carbon black market with some of the key players being Cabot Corporation, Thai Carbon Black Public Company Limited (Birla Carbon), Orion Engineered Carbons S.A., Phillips Carbon Black Limited, Tokai Carbon Co., Ltd., Omsk Carbon Group OOO, Jiangxi Black Cat Carbon Black Inc., Ltd., OCI Company Ltd., China Synthetic Rubber Corporation, SID Richardson Carbon & Energy Co., etc.
Key Questions Answered in This Report:
The global carbon black market was valued at US$ 18.2 Billion in 2020.
The growing automotive industry has led to an extensive use of carbon black in the inner liners, sidewalls, treads of tires, etc., thereby representing one of the factors driving the global carbon black market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in a temporary closure of numerous automobile manufacturing units, thereby limiting the demand for carbon black.
Based on the type, the global carbon black market has been segmented into furnace black, channel black, thermal black, acetylene black, and others. Currently, furnace black holds the majority of the market share.
Based on the application, the global carbon black market can be divided into tire, non-tire rubber, plastics, inks and coatings, and others. Among these, tire represents the largest application.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global carbon black market include Cabot Corporation, Thai Carbon Black Public Company Limited (Birla Carbon), Orion Engineered Carbons S.A., Phillips Carbon Black Limited, Tokai Carbon Co., Ltd., Omsk Carbon Group OOO, Jiangxi Black Cat Carbon Black Inc., Ltd., OCI Company Ltd., China Synthetic Rubber Corporation, SID Richardson Carbon & Energy Co., etc.
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