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  • Published On : Dec 2022
  • Code : CMI4662
  • Industry : Advanced Materials
  • Pages : 120
  • Formats :

Carbon black is a compound produced by the incomplete combustion of petroleum products such as coal tar, natural gas, and petroleum oil. Carbon black finds major applications across the textile industry as a dyeing agent. It is an excellent coloring agent as a pigment, hence widely used for coloring fibers.

Global carbon black market was valued at US$ 1093.1 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.84 % during the forecast period (2022 to 2030).

Drivers

Growing demand for synthetic textiles fibers is a prime factor fueling the growth of carbon black market. This is attributed to a decline in demand for cotton due to its high cost and growing need for harvested land for other necessary crops. Black carbon is widely used in synthetic textiles which are further used across a wide range of applications. Thus, high demand for synthetic textiles is projected to augment the growth of carbon black market.

Strong demand for polyester fiber is also creating demand for carbon black. Polyester is one of the economical fibers used in the manufacturing of synthetic textiles. This is one of the major factors fueling the growth of carbon black market. Moreover, polyester is a low-cost product that has a broad range of application that is further boosting its demand across end users. Thus, growing demand for polyester fiber is propelling the growth of carbon black market.

The global carbon black market is harshly affected by the coronavirus pandemic, impacting various businesses and manufacturing activities. A disruption in value chain has led to huge losses for manufacturers operating in the global carbon black market. The increasing applications of carbon black in coating, printing inks, and plastic processing is creating revenue streams for manufacturers in the carbon black market.

Figure 1. Global Carbon Black Market Value Share (%), By Region, 2021

Carbon Black  | Coherent Market Insights

Market Restraints

The production of carbon black leads to emissions of various harmful gases such as carbon monoxide which has a potential threat to the environment. Thus, environmental concern associated with the production of carbon black is expected to hamper the growth of carbon black market.

Toxicity associated with carbon black leads to lung disease. Inhalation of carbon black leads to irritation in lung and cause coughing. Moreover, it also causes irritation to the eyes and nose. Such side-effects associated with carbon black are inhibiting the market growth.

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Carbon Black Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 1093.1 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 6.84 % Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Product Type: Polyester (Filament Fiber, Staple Fiber, Others), Nylon, Acrylic, Others
  • By End Users: Home Textiles, Apparels, Others
Companies covered:

Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon

Growth Drivers:
  • Growing demand for synthetic textiles fibers
  • Strong demand for polyester
Restraints & Challenges:
  • Emissions of various harmful gases such as carbon monoxide during production
  • Toxicity associated with carbon black leading to lung disease

Market Trends

Growing demand for home textile products which is fueling acrylic fiber consumption is accelerating the market growth. Increasing consumer spending on home decor products such as sofa, furniture, curtains, carpets, and rugs is one of the growing trends. This is attributed to the increasing purchasing power and improving standard of living of consumers. Hence, growing demand for home textile products is fueling the growth of carbon black market.

The development of bio-based and recycled carbon black is expected to offer potential market opportunities in the near future. Increase in significant research and developmental activities for bio-based carbon black products due to growing environmental concern is expected to foster the growth of carbon black market Bio-based black carbon reduces reliance on crude oil and also reduces hazards to the environment. This factor is encouraging manufacturers to develop bio-based carbon black.

Increasing demand for protective clothing for the safety of workers across various industries is projected to provide potential market opportunities. Growing demand for textile from the automotive industry for the manufacturing of seatbelt, seat cover, and interior accessories is also anticipated to foster the market growth. Thus, the increasing production of automobiles is expected to propel the market growth over the forecast period.

Figure 2. Global Carbon Black Market Value Share (%), By Product Type, 2021

Carbon Black  | Coherent Market Insights

Recent Developments

  • In July 2021, Orion Engineered Carbons SA, a manufacturer of specialty carbon black, collaborated with RISE Research Institutes, a Swedish state-owned research institute, to produce renewable carbon black
  • In November 2020, Safic-Alcan, a global specialty chemicals distributor, entered into an extended distribution agreement with Orion Engineered Carbons, a leading global supplier of carbon black, headquartered in South Africa
  • In June 2021, Imerys Graphite and Carbon, a producer of specialty synthetic and natural graphite powders and conductive carbonblacks, expanded its presence in India by opening a new plant in Andhra Pradesh to serve domestic customers

Competitive Section

Major players operating in the global carbon black market include Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon

Carbon black is a material produced by the incomplete combustion of heavy petroleum products such as Fluid Catalytic Cracking(FCC) tar, coal tar, ethylene cracking tar, or vegetable matter. Cotton, wool, acrylic and nylon fabrics can be directly dyed by using surface modified carbon black.

Market Dynamics

The global carbon black market for textile fibers is witnessing an increase in prices of carbon black. For instance, in August 2021, Cabot Corporation, a leading global specialty chemicals and performance materials company announced to increase prices on all carbon black products sold by its specialty carbons business globally.

Major players in the global carbon black market for textile fibers are focused on expanding their logistics to enhance their market share. For instance, in May 2020, Orion Engineered Carbons S.A., a manufacturer of specialty carbon blacks and rubber carbon blacks for coatings announced the building a new logistics center at its largest manufacturing plant in Cologne, Germany.

The rise in demand for carbon black in various applications such as rubber reinforcement, paints & coatings, plastics, battery electrodes, and inks & toners is driving the carbon black market. Increasing applications of carbon black in the tire industry is a major driver for the carbon black market. Carbon black is widely used as a reinforcement filler in tire and non-tire rubber formulations. Growing sales and production of vehicles across the globe is contributing to market growth. Carbon black can be popularly used in reinforcing rubber in tires. It can make up about 30% of the weight of a tire. Carbon black is an important component of automotive rubber parts in vehicles such as sealing systems, hoses, anti-vibration parts, and engine mounts.

Key features of the study:

  • This report provides an in-depth analysis of the global carbon black market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global carbon black market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global carbon black market report caters to various stakeholders in this industry including investors, suppliers, carbon black manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global carbon black market

Detailed Segmentation:

  • Global Carbon Black market, By Product Type:
    • Polyester
      • Filament Fiber
      • Staple Fiber
      • Others
    • Nylon
    • Acrylic
    • Others
  • Global Carbon Black market, By User:
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • U.K.
      • France
      • Germany
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Middle East & Africa
      • Middle East
      • Africa
  • Company Profiles
    • Orion Engineered Carbons*
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Cabot Corporation
    • Mitsubishi Chemical Corporation
    • Phillips Carbon Black Limited
    • Birla Carbon
    • Sid Richardson Carbon & Energy Co.
    • Anyang HengXu Specialty Carbon Black Co., Ltd.
    • Imerys Graphite & Carbon

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global carbon black market was valued at around US$ 1093.1 Million in 2021.
Significant growth of manufacturing industries and growing urban population are the factors fuelling the market.
Growing demand for home textile products which is fueling acrylic fiber consumption is accelerating the market.
Emissions of various harmful gases such as carbon monoxide during production and toxicity associated with carbon black leading to lung disease are factors hindering market.
Major players operating in the market include Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon

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