According to a new market report published by Lucintel, the future of carbon black for the global tire market looks good with opportunities in the passenger car, commercial vehicles, and others tire applications. Carbon black for the global tire market is forecast to grow at a CAGR of 5.6% from 2015 to 2020. The major drivers of growth for this market are strong demand for tires from passenger cars and commercial vehicles.
Browse 46 market data tables and 136 figures spread through 193 pages and in-depth TOC on “Carbon Black Tire Market"
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In this market, carbon black is used in the tires for the passenger cars, commercial vehicles and others applications. Lucintel predicts that the demand for carbon black in commercial vehicles is likely to experience the significant growth in the forecast period supported by rapid development of the transportation infrastructure in emerging nation and recovery in global economy.
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Within the carbon black for the global tire market, the replacement tire industry is expected to remain the largest segment over the forecast period. Rising average vehicle life and continuous expansion of automotive vehicle fleet is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the increase in production of passenger cars and light commercial vehicles in China and India. Asia Pacific and the Rest of the World are expected to witness good growth over the forecast period because of growth in automotive demand and increasing investment in tire production facilities in low cost countries.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of carbon black can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
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Emerging trends, which have a direct impact on the dynamics of the industry, include the shift from commodity to more specialize grade carbon black, growing usage of recycled and bio-based carbon black and increasing merger and acquisition activities to consolidate the market. Cabot Corporation, Birla Carbon, Orion Engineered Carbons, Sid Richardson Carbon & Energy Co and Philips Carbon Black are among the major suppliers of carbon black for tire market. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed carbon black in the global tire industry by application, end use industry and region, and has come up with a comprehensive research report, “Carbon Black Tire Market 2015-2020: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast of carbon black tire market through 2021, segmented by application, end use industry and region as follows:
Carbon black tire market by application [volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
Passenger Car Tire
Commercial Vehicles Tire
Others
Carbon black tire market by end user industry volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
Carbon black tire market by region [volume (Kiloton) and $M shipment analysis for 2009 – 2020]:
North America
Europe
Asia Pacific
Rest of World
This 193-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 http://www.lucintel.com/toc/carbon_black_in_the_global_tire_market_2020.aspx or helpdesk@lucintel.com
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