According to a new market report published by Lucintel, the future of the carbon black market looks promising with opportunities in the transportation, industrial, and building and construction sectors. The carbon black market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $22.8 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. The major drivers for this market are increasing tire production and growth in plastic and coating market.
Browse 137 market data tables and 153 figures spread through 247 pages and in-depth TOC on “Carbon Black Market"
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In this market, different types of carbon black such as tire rubber, non-tire rubber, plastic, ink, coating, and others are used as application. On the basis of comprehensive research, 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 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 sector.
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 carbon black market by application type, grade, end use industry, attributes, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Carbon Black Market 2020-2025: 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 study includes a forecast for the carbon black market by application type, grade, end use industry, attributes, and region as follows:
By Application Type [$M shipment analysis from 2014 to 2025]:
Tire Rubber
Non-Tire Rubber
Plastic
Ink
Coating
Others
By End Use Industry [$M shipment analysis from 2014 to 2025]:
Transportation
Industrial
Building and Construction
Printing and Packaging
Others
By Grade [$M shipment analysis from 2014 to 2025]:
Commodity Carbon Black
Specialty Carbon Black
By Attribute Type [$M shipment analysis from 2014 to 2025]:
Reinforcement
Coloring (Pigmentation)
Conductivity
UV Protection
Others
By Region [$M shipment analysis for 2014 to 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
The Rest of the World
This 247-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 click on this link https://www.lucintel.com/carbon-black-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.