The
Carbon black is a type of solid carbon, which is introduced by the numerous
procedures, namely furnace black, acetylene black, channel and lampblack. It is
vastly utilized in the producing of tires and several others non-tire rubber
products. Carbon black holds good conductive and physical advantages and can
deliver the shelter from UV rays. With the rising ultimatum for
high-performance coatings, the product is also attaining the traction among
paint and coating manufactures. Additionally, the key players of this market
are dominating the high amount of share across the globe more significantly
with the introduction of new and innovated technology which deliver the
effective product and increase the demand. Hence, with the effective working of
the key players the market will increase across the globe more efficiently in
the near future.
According
to the report analysis, ‘Global
Carbon Black Market Research Report - Forecast to 2023’ states that
there are several key players which are presently functioning in this market
more significantly for dominating the highest market share around the globe
with the effective techniques of manufacture the product includes Mitsubishi
Chemical Corporation (Japan), Cabot Corporation (US), OCI Company Ltd (South
Korea), Orion Engineered Carbons (Luxembourg), Phillips Carbon Black Ltd
(India), Tokai Carbon Co., Ltd (Japan), Longxing Chemical (China), JINNENG
(China), Himadri Speciality Chemical Ltd (India), ChemChina (China), Sid
Richardson Carbon and Energy Co. Ltd (US), Kremenchug Carbon Black Plant
(Ukraine), Shandong Huadong Rubber Materials Co., Ltd (India), Nippon Steel
& Sumikin Chemical Co., Ltd (Japan), Shijiazhuang Xinxing Chemical Carbon
Co. Ltd (China), Hebei Daguangming Juwuba Carbon Black Co. Ltd (China), Suzhou
Baohua Carbon Black Co., Ltd (China), and Jiangxi Black Cat Carbon Black Inc.,
Ltd (China).
The
global market of carbon black is segmented into process type, function, and
application. On the basis of function, the market is further segmented into
reinforcement and pigment. The reinforcement segment held the largest market
share in 2017. However, the pigment segment is projected to register the
highest CAGR of 5.17% during the forecast period. Moreover, based on the
application, the market is also split into Tire rubber, non-tire rubber, paints
and coatings, inks, plastics, and several others. The tire rubber sector
registered for 70.48% of the market share in 2017 and is anticipated to be
worth at USD 11,922.4 million by the end of 2023 while the inks sector is
anticipated to observe the fastest growth at a significant CAGR of 5.59%. The
tire industry is aimed on raising the usage of carbon black to decrease the
rolling resistance solution in heavy trucks and passenger cars.
Additionally,
with the effective classification and applications the market of carbon black
is spread across the globe more effectively which majorly includes North
America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
In 2017, the market was led by Asia-Pacific With
a 52.10% market share. The regional market is anticipated to account a CAGR of
5.10% to reach USD 9,242.0 million by the end of 2023. This can be recognized
to the raising the amount of investments in tire and rubber manufacture and
considerable growth of the automotive and construction industries. Therefore,
in the near future, it is expected that the market of carbon black will
increase across the globe more significantly over the recent few years.
For more information, click on the
link below:
https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/global-carbon-black/174342-101.html
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Research
Ankur
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