Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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.
The global carbon black market for textile fibers is estimated to be valued at US$ 1,093.1 million in 2021 and is expected to exhibit a CAGR of 7.1 % over the forecast period (2021-2028).
- In July 2021, Orion Engineered Carbons SA collaborated with RISE Research Institutes, headquartered in Sweden to produce renewable carbon black (rCB).
- In January 2021, Himadri Specialty Chemical Ltd merged with Petrotech Group, a company headquartered in Rajasthan for the production of Carbon Black pigments.
- In November 2020, Safic-Alcan entered into an extended distribution agreement with Orion Engineered Carbons, headquartered in South Africa.
Asia Pacific held dominant position in the carbon black market for textile fibers in 2020, accounting for 57.3% share in terms of value, followed by Europe and North America, respectively. Rising levels of the income coupled with growth of the textile industry has been surging the target market growth in Asia Pacific.
Figure 1. Global Carbon Black Market for Textile Fibers Value (US$ Mn), by Region, 2020
Global Carbon Black Market for Textile Fibers: Drivers
Growing demand for synthetic textiles fibers is a prime factor fueling the market growth of carbon black. This is attributed to the decline in the demand for cotton due to the 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, the high demand for synthetic textiles is projected to augment the market growth of carbon black.
Strong demand for polyester fiber is creating demand for carbon black. Polyester is one of the economical fiber used in the manufacturing of synthetic textiles. This is one of the major factors fueling the market growth of carbon black. Moreover, polyester is low-cost products that have a broad range of application that is further boosting its demand across end-users. Thus growing demand for polyester fiber is propelling the market growth of the carbon black.
Global Carbon Black Market for Textile Fibers: Opportunities
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 development for developing bio-based carbon black products due to growing environmental concern is expected to foster the market growth of the carbon black. Bio-based black carbon reduces reliance on crude oil and also reduce hazards associated with the environment. This factor is encouraging manufacturers to develop bio-based carbon black.
Increasing demand for protective clothing for the safety of the workers across various industries is projected to serve potential market opportunities. Growing demand for textile from the automotive industry for the manufacturing of seatbelt, seat cover, interior accessories is again anticipated to foster the market growth. Thus, increasing production of automobiles is expected to propel the market growth over the forecast period.
Carbon Black Market for Textile Fibers Report Coverage
||Market Size in 2021:
||US$ 1,093.1 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 1,543.5 Mn
- North America: The U.S., Canada, Mexico, and Rest of NA
- Europe: The U.K., Germany, France, Russia, and Rest of Europe
- Asia Pacific: Japan, Australia, Indonesia, Philippines, Vietnam, Thailand, South Korea, India, China, and Rest of APAC
- Rest Of World
- By Product Type: Polyester(Filament Fiber, Staple Fiber, Others), Nylon, Acrylic, Others
- By End Users: Home Textiles, Apparels, Others
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
- 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 the carbon black leading to lung disease
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 the consumers. Hence, the growing demand for home textile products is fueling the market growth of carbon black.
Merger and acquisition among key players for business expansion is one of the growing trends in the market. For instance, in October 2018, Cabot Corporation announced has acquired NSCC Carbon (Jiangsu) Co., Ltd. from Nippon Steel Carbon Co., Ltd., a subsidiary of Nippon Steel Chemical & Material Co., Ltd. for expansion of the carbon black. Increasing such initiatives by the key manufacturer will favor the market growth of the black carbon.
Figure 2. Global Carbon Black Market for Textile Fibers Share, By Product, 2020
Key Takeaways of the Graph:
- Among Product, the Polyester held dominant position in the market and accounted for 57.0% share in the global carbon black market for textile fibers in 2020. The segment is expected to reach US$ 883.7 million in 2028.
- Polyester is a widely used synthetic fiber in textile industry. Hence, increasing consumption of polyester textile fibers, in turn, is likely to augment carbon black demand.
- Among Application, Apparels held dominant position in the market and accounted for 54.6% share in the global carbon black market for textile fibers in 2020. The segment is expected to reach US$ 844.7 million in 2028.
- Increasing carbon black usage in apparel to reduce wear& tear and improve color dispersion of fabrics to improve serviceability is anticipated to propel the target market growth over the forecast period.
Global Carbon Black Market for Textile Fibers: 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 market growth of the carbon black.
Toxicity associated with the 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 the carbon black is inhibiting the market growth.
Global Carbon Black Market for Textile Fibers: Competitive Landscape
Major players operating in the global carbon black market for textile fibers 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
Few Recent Developments
In July 2020, Aditya Birla Group’s carbon black manufacturing arm, Birla Carbon has announced global restructuring plans in order to focus on market-driven innovation, and leverage its global capabilities.