Carbon Black Market Expected to Dominate Worldwide by 2023

Carbon black can be defined as refined high-end chemical which is produced by burning of hydrocarbons in partial air supply. Carbon black is the purest form of carbon black possessing lower level of sulfur, ash, and metals in combination with other impurities. There are some different parts,which has four processes that can be used to produce carbon black include acetylene black, thermal black, furnace black, and lampblack. carbon black forms a component of carbon black.This is called the Furnace black is the most commonly used type of manufacturing process that helps in the mass production with various particle sizes as well as structures. Also, furnace black can be utilized for different applications such as coloring and rubber reinforcement.

The global carbon black market divided it on the basis of type, application, grade and regions. Based on the type, the global carbon black market is divided into furnace black, channel black, thermal black, acetylene black., the global carbon black market is divided into 6 different parts like tire, non-tire rubber, inks & coating, and plastic. On the basis of grade, the global carbon black market is segmented into standard and specialty grade.

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The carbon black market grows in the forecast years owing to the increased demand for carbon black from tire as well as industrial rubber compound. Due to the shift from commodity to specialized grade carbon black, rising usage of carbon black as pigment in lightweight auto parts to improve conductivity as well as UV protection properties, and rise in the merger and acquisition activities for consolidation of the market, there will be growth in this market during the forecast period. Also, the constantly increasing passenger cars fleet size and light commercial vehicles will fuel this market growth.

Based on regions, the global carbon black market is divded into different regions like North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. The Asia-Pacific region is expected to command the maximum market share for carbon black during the forecast period. owing to large production of vehicle and shifting of tire companies in low-cost countries, such as India and China. The regional markets such as Asia-Pacific and Rest of the World are set to witness an increased growth during the future years owing to a splurge in automotive demand and rising investment in tire production facilities in low-cost countries. Also, majority of the carbon black’s manufacturing units located in North America, Europe are being compelled to shut down their operations owing to the intense competition being faced from low cost Asian manufacturers. This has led to the shift of carbon black’s manufacturing units towards Asia, thereby propelling the growth of manufacturing capacities in countries such as China and India.

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Large number of companies are investing heavily for their production capacities expansions in order to amplify their market share and cater to the high demand for carbon black. The major companies that provide carbon black include China Synthetic Rubber Corporation, Jiangxi Black Cat Carbon Black Co., Ltd., Orion Engineered Carbons, Cabot Corporation, Birla Carbon, and Philips Carbon Black among others.

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