Exceeding revenues of US$17 Bn in 2018, global carbon black market is all set for a strong growth outlook between 2021 and 2025. While worldwide carbon black production volume was recorded to be around 15 MT, its adoption for a wide range of rubber and non-rubber applications is likely to boost both production and demand. Fairfield Market Research in its latest published report forecasts a healthy 6.5% CAGR for global carbon black market during the period of assessment. Carbon black is typically derived from coal, or crude oils, and serves as a crucial additive for manufacturers of a spectrum of products across industries worldwide.

Increasing preference for carbon black as a performance-enhancing additive is expected to drive the growth of carbon black market, says the report. It plays an important role in boosting viscosity, conductivity, and static charge control of a range of materials, which sustains demand. Regional analysis suggests continued primacy of Asia Pacific, led by China, with over 3/5^th of global demand generation. China alone has more than 40% contribution to worldwide carbon black production.

For More Industry Insight Read: https://www.fairfieldmarketresearch.com/report/carbon-black-market

MRG Dominant, Speciality Carbon Black Set for Faster Growth

The report reveals that in 2019, more than 13.9 MT carbon black was globally consumed, and speciality carbon black accounted for approximately 8% of it. Although 8% seems negligible in terms of market share, speciality carbon black is expected to exhibit exceptional performance in the near future on account of growing preference as a UV stabilising agent, and potential applicability in Li-ion batteries. When compared to other commodity grade counterparts like rubber carbon black, and mechanical rubber goods (MRG), speciality carbon black is all set to grow faster over the next few years. MRG however remains dominant with more than 90% of overall consumption, clearly attributing to its cost efficiency.

Carbon Black Consumption Upbeat in Tyres Industry

Rubber tyres has been among the key consumer segments of carbon black and the trend will prevail through the forecast period as well. In 2019, over 70% of total carbon black consumption was registered by tyres industry alone. While sales will be upheld by steadfast rate of tyre replacement, the report also highlights the fact that demand growth is pushed significantly by the swelling market for tyre pressure monitoring systems. Carbon black consumption is likely to be on an upswing on account of the growing market potential of industrial rubber goods, and rubber auto parts. Growth of high-performance high-end vehicles consequently pushes demand for premium automobile tyres. In addition, application areas like wires and cables, paints and coatings, sealants, batteries, printing inks, and plastics will continue to present steady streams of revenue generation to carbon black manufacturers. Carbon black adoption in these categories is projected to remain sustained as it continues to be a preferred pigmenting, colouring, and reinforcing agent.

Key Market Players in Carbon Black Landscape

Orion Engineered Carbons, Cabot Corporation, Tokai Carbon Co., Ltd., Jiangxi Black Cat Carbon, and Birla Carbon are some of the prominent competitors leading global carbon black market space. There has been a lot of competition in terms of carbon black production technologies as industry demands more effort toward sustainability. This will continue to compel key manufacturers to explore innovative technologies that would help them comply with industry’s sustainability goals.

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