New York, NY 17 Sep 2020: The global carbon black market size is anticipated to reach 17.58 billion by 2026, growing at a CAGR of 5.2% during the forecast period, according to a report published by Polaris Market Research. The report ‘Carbon Black Market By Product Type (Thermal Black, Channel Black, Furnace Black, and Others), By Application (Plastics, Tire, Non-tire, Coatings and Others), By Regions& Segments Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
Carbon black is generally a reinforced material into components of vulcanized rubber and finds numerous applications wherein majorly the 60% of it is consumed in manufacturing of the automobile tires. Special blacks that have been introduced in the market for over a decade is substantially highly priced per kilogram in comparison to the carbon blacks for commodity production. Special blacks have still not been commercialized in every aspect and are still mainly in the developing stage of the product lifecycle. Also, the manufacturers have invested heavily in their R&D activities.
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Coatings, plastics, paints, inks, and others are among the most widely used solutions in the infrastructure & construction sectors. These industries have witnessed rigorous growth in the developed nations. In the developing countries such as those of Asia Pacific region also these industries have witnessed tremendously higher growth. Construction industry in Latin America has also seen significant boom for the past five years due to strong manufacturing base in the U.S. Asia Pacific has also developed extensively in terms of being a major manufacturing hub with major contributing economic efforts from countries such as South Korea, India, Japan, and some of the South East Asian countries.
The presence of international leading car manufacturing countries such as South Korea and Japan have further strengthened the development of rubber and expansion of the tire manufacturing base in the whole region. The tore manufacturing sector in China and India has witnessed tremendous growth since 2010. Both these countries are known to be among the major exporters not just in their regional market instead internationally. The above-mentioned parameters and mega trends have strengthened the demand of carbon black significantly with rapidly growing production and consumption trends.
Some of the significant market players for the carbon black include Cabot Corporation, Shandong Huadong Rubber Materials Co., PJSC, Ltd., Suzhou Baohua Carbon Black Co., Ltd., Shandong Lion King Carbon Black Co., and Asahi Carbon Co., Ltd. Some more companies include Himadri Chemicals & Industries Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Ltd., Mitsubishi Chemical Corporation, Longxing Chemical Stock Co, Ltd., Ralson Goodluck, SID Richardson & Energy Co. Tokai Co., Ltd., OCI Company Ltd., Jiangxi Cat Inc., Ltd., China Synthetic Rubber Corporation, OMSK Group OOO, Orion Engineered S.A., Phillips Black Limited, and Thai Carbon Black Public Company Limited.
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