Opportunities for the global carbon black market to reach $24.8 billion by 2024

According to a new market report published by Lucintel, the future of the global carbon black market looks promising with opportunities in the transportation, industrial, and building and construction sectors. The global carbon black market is expected to reach an estimated $24.8 billion by 2024 with a CAGR of 6.6% from 2019 to 2024. The major drivers for this market are increasing tire production and growth in plastic and coating market.

In this market, carbon black is used as reinforcement agent in tire and non–tire rubber goods. It is also used as a pigment and performance additive in coatings, polymers, printing, and other applications. Lucintel predicts that carbon black for tire rubber will remain the largest application over the forecast period supported by increasing demand for passenger cars and light commercial vehicles. Lucintel forecasts that the plastic is expected to witness the highest growth over the forecast period due to growth in the plastic pipes, wire & cable, and packaging market.

Within the global carbon black market, 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 will remain the largest region by value and volume and it is also expected to witness 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 a shifting focus from commodities to more specialized grades of 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, grade, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Carbon Black Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global carbon black by application, end use, grade, and region as follows:

By Application [Kilotons and $M shipment analysis from 2013 to 2024]:

• Tire Rubber
• Non-Tire Rubber
• Plastic
• Ink
• Coating
• Others

By End Use Industry [Kilotons and $M shipment analysis from 2013 to 2024]:

• Transportation
• Industrial
• Building and Construction
• Printing and Packaging
• Others
By Grade [Kilotons and $M shipment analysis from 2013 to 2024]:

• Commodity Carbon Black
• Specialty Carbon Black

By Function [Kilotons and $M shipment analysis from 2013 to 2024]:

• Reinforcement
• Coloring (Pigmentation)
• Conductivity
• UV Protection
• Others

By Region [Kilotons and $M shipment analysis for 2013 – 2024]:

• North America
United States
Canada
Mexico

• Europe
Germany
Italy
Russia

• Asia Pacific
China
India
Japan
Thailand
Indonesia
South Korea

• The Rest of the World
Turkish

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 helpdesk@lucintel.com. Lucintel offerings include chemical market research reports, chemical industry analysis report, commercial due diligence report, business strategy consulting and market research reports online.

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), grade (commodity carbon black and specialty carbon black) 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?