The Asia Pacific carbon black market size is anticipated to register a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing market penetration of specialty black and growing application in fiber & textile industries.
Carbon black is a type of para crystalline carbon, which has 95% of pure carbon and improves the physical and mechanical properties of the material. Carbon black is basically utilized in production of plastics, printing inks, tires, toner, and mechanical rubber merchandise. It can absorb UV light and converts it into heat, subsequently, observes its significant application in protecting wires and cables. Besides, it is utilized in the development of a wide scope of elastic products and pigments.
Carbon black Is an element produced by the imperfect combustion of heavy petroleum products such as coal tar, vegetable matter, fluid catalytic cracking tar, or ethylene cracking tar. It has a high surface-area-to-volume ratio, which is lower than activated carbon. The outbreak of COVID-19 pandemic impacted the global carbon black market in terms of revenue loss and demand. In FY2020, the restrictions and lockdown negatively impacted the carbon black industry.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing application in plastics and coating industries, which is expected to drive the market growth.
- Rapid growth in the rubber industry is anticipated to spur the growth of market.
- Hazardous gas emissions during production can hinder the growth of the market.
- Availability of substitutes can hamper the market growth.
- Volatility in raw material prices and availability of acceptable quality of feedstock can create challenges for the market growth.
- High demand and increasing requirement for UV protection and conductive properties in plastics are estimated to create lucrative opportunities during the projected timeline.
Scope of Carbon Black Market Report
The Asia Pacific carbon black market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Asia Pacific Carbon Black Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Process Types (Gas Black, Furnace Black, Thermal Black, and Lamp Black), Applications (Plastics, Coatings, Tires & Industrial Rubber Products, Textile Fibers, Toners & Printing Inks, and Others)
India, Japan, China, South Korea, ASEAN Countries, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Mitsubishi Chemical Holdings Corporation; Imerys Graphite & Carbon; Cabot Corporation; Orion Engineered Carbons; and Birla Carbon
Asia Pacific Carbon Black Market Segment Insights
Furnace black segment to hold a major market share
In terms of process types, the market is categorized as gas black, furnace black, thermal black, and lamp black. The furnace black segment is projected to expand at a considerable CAGR during the forecast period. Furnace black method is used for mass manufacturing and has much improved yield as compared to other process types. Furnace black is manufactured by unfinished combustion of coal oil or petroleum oil using an oil furnace. It also permits the mass production of carbon black alongside various particle sizes and structures. Furnace black process has major application as reinforcing agent in rubber manufacturing.
Tires & industrial rubber products segment is anticipated to exhibit a high CAGR
Based on applications, the market is segregated into plastics, coatings, tires & industrial rubber products, textile fibers, toners & printing inks, and others. The tires & industrial rubber products segment is estimated to grow at a rapid pace in the projected timeline. Carbon dark is utilized in tires basically as a filler to improve its different attributes, for example, longevity, fuel economy, and tread wear. Carbon dark is primarily required in the internal liners, sidewalls, and bodies. It has heat-dissemination abilities when added to rubber mixtures.
China is anticipated to constitute a key market share
On the basis of geography, the Asia Pacific carbon black market is categorized as India, Japan, China, South Korea, ASEAN countries, and Rest of Asia Pacific. China is expected to constitute a key share of the market during the projected period due to the growing demand for carbon black from the automotive sector. Several factors such as volatile feedstock prices, rising labor costs, supply surpluses, tightening environmental regulations, and low capacity utilization rates along with increasing cost of tire manufacturing are driving the country’s market growth.
The Asia Pacific carbon black market is segmented on the basis of:
- Gas Black
- Furnace Black
- Thermal Black
- Lamp Black
- Tires & Industrial Rubber Products
- Textile Fibers
- Toners & Printing Inks
- South Korea
- ASEAN countries
- Rest of Asia Pacific
- Mitsubishi Chemical Holdings Corporation
- Imerys Graphite & Carbon
- Cabot Corporation
- Orion Engineered Carbons
- Birla Carbon
The key players competing in the carbon black market are Mitsubishi Chemical Holdings Corporation; Imerys Graphite & Carbon; Cabot Corporation; Orion Engineered Carbons; and Birla Carbon