According to a new market report published by Lucintel, the future of the global carbon black market looks attractive with opportunities in the transportation, industrial, and building & construction, and packaging sectors. The global carbon black market is expected to reach an estimated $20.2 billion by 2023 with a CAGR of 6.0% from 2018 to 2023. The major growth drivers for this market are increasing tire production, and rising demand for specialty carbon black in plastic, ink, and coating applications.
In this market, carbon black is used as a reinforcement agent in tire and non–tire rubber goods and it is also used as a pigment and performance additive in coatings, plasticss, ink, and other applications. Lucintel predicts that the carbon black demand in the tire will remain the largest application over the forecast period supported by continuously increasing the fleet size of passenger cars and light commercial vehicle. Lucintel forecasts that the plastic segment is expected to witness the highest growth in the forecast period due to growth in plastic pipe, wire & cable, and packaging market.
Within the global carbon black market, the transportation will remain the largest end use industry during the forecast period supported by increasing demand for the tire and mechanical rubber goods. Lucintel predicts that the demand for carbon black in the packaging end use is likely to experience the highest growth in the forecast period supported by growth in the food and beverages, household products, personal care, and pharmaceuticals sectors
Asia Pacific is expected to be the largest region by value and volume and will experience the highest growth over the forecast period supported by higher vehicle production and shift of tire production in low-cost countries, such as India and China.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing usage of recycled and bio-based carbon black, and shifting focus from commodity to more specialize grade carbon black. Birla Carbon, Cabot Corporation, China Synthetic Rubber (CSR), Orion Engineered Carbons Holdings, OMSK Carbon Group, Tokai Carbon, Philips Carbon Black, and Sid Richardson Carbon & Energy are among the major carbon black providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global carbon black market by application, end use, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Carbon Black Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The Lucintel report includes a forecast for the global carbon black by application, end use, and region as follows:
By Application [Kilotons and $M shipment analysis from 2012 to 2023]:
• Tire Rubber
• Non-Tire Rubber
By End Use Industry [Kilotons and $M shipment analysis from 2012 to 2023]:
• Building and Construction
• Printing and Packaging
By Region [Kilotons and $M shipment analysis for 2012 – 2023]:
• North America
– United States
• Asia Pacific
– South Korea
• The Rest of the World
This 181-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Capital Investment Analysis.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global carbon black market by application (tire rubber, non-tire rubber, plastic, ink, coating, and others), by end use industry (transportation, industrial, building and construction, printing and packaging, and others) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?