What make Carbon Black Market Boom, Resulting in Growth of the Market 2024 Worldwide | Some of the major players are Phillips Carbon Black Limited, Cabot Corporation, Sid Richardson Carbon and Energy

Globally, the largest sales market for carbon black is the automotive industry. Carbon black is produced by partial combustion of heavy petroleum products like coal tar, FCC tar and ethylene cracking tar. It is a black colored powder in its physical state. It has variants such as thermal black, acetylene black, channel black, furnace black and lampblack. Carbon black is used as a tincture and finds application in plastics and automotive sector. It is crucial for tire manufacturing companies and is used as a reinforcing agent in rubber goods.

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The global carbon black market can be categorized on the basis of application into Rubber applications and other applications. The market can also be categorized on the basis of end user into tire industry, rubber goods industry and other non-rubber goods industry. The major restraint to the market includes pricing of raw materials and crude oil. Production costs and prices of Carbon Black are mainly influenced by the prices for raw materials and vary greatly due to fluctuating prices for crude oil.

Competitive scenario related to pricing of carbon black is witnessing to lower the carbon black business by many companies in North America and Europe as countries in Asia-Pacific region is producing carbon black at relatively lower prices. This has led to migration of production facilities of producers to Asia-Pacific in order to remain competitive in market by minimizing production cost.

One of the segments of the global carbon black market is specialty carbon black which finds application in printing inks, metallurgy and plastics. Specialty carbon black is conductive and reduces the electrical resistivity by forming a conductive network through the rubber or polymer matrix. The key division in specialty carbon black market includes low pellet, softer pellet, low sieve residue low and poly-nuclear aromatics (PNA). Some carbon black manufacturers are expanding their business and entering into specialty carbon market that is likely to increase the rivalry in the industry to some level.

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Some of the major industry players include Phillips Carbon Black Limited, Cabot Corporation, Aditya Birla Group, Omsktechuglerod OOO, OCI Company Ltd., China Synthetic Rubber Corporation (CSRC), Orion Engineered Carbons GmbH, Sid Richardson Carbon Co., Shandong Huadong Rubber Materials Co., Ltd. and Jiangxi Black Cat Carbon Black Co., Ltd among others.

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