Asia Pacific Carbon Black Market to Hold the Largest Market Share in Global Carbon Black Market

The market for carbon black in Asia Pacific region is witnessing a high growth and is anticipated to dominate the market share in terms of revenues for the forecast period. Asia Pacific manufactures the cheapest carbon black which is resulting in shutting down of carbon black business by many companies in North America and Europe. Many are shifting their production facilities to Asia Pacific to minimize production cost and remain competitive in the market. Globally, China is the largest manufacturer and supplier of carbon black at present.

Carbon black is a pure form carbon majorly used as reinforcement filler in the rubber goods, tire, plastics and other products manufacturing industries. Robust growth in the automotive sector and expansion of vehicle manufacturing facilities has increased demand for tire products. Growing demand for tires in automotive industries is anticipated to further drive leading tire companies to expand their production bases and boost sales of carbon black in India in the coming years.

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Additionally, companies are investing in expansions of their production capacities to increase their market share and cater to the increasing demand for carbon black. For example, Thai Carbon Black Public Company Limited proposed to establish a greenfield carbon black production plant, Columbian Chemicals (Jining), in China. The plant will be constructed in two phases, phase 1 with a capacity of 120,000 ton per year and phase 2 with an incremental capacity of 120,000 tons. This expansion will enable the company to serve its customers in China.

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Some of the major players operating in the carbon black market with most significant developments and holding significant market share 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. These players are focusing in expanding their operation across the globe in order to increase their profit margin and expand their customer reach.

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