The South America carbon black market size is expected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing penetration of carbon black in various industries including tires and plastics.
Carbon black is a type of para crystalline carbon that includes more than 94% of pure carbon and improves the material's physical and mechanical qualities. Tires, plastics, rubber items, printing inks, and toners are some of the carbon black's applications. It absorbs UV light and turns it to heat, thus it's commonly used to insulate wires and cables. It's mostly utilized in manufacturing of a variety of rubber products and colors. Carbon black is generally used as a low-cost rubber reinforcing agent in tires.
The breakout of COVID-19 has had caused several chemical production businesses to struggle in last two years. Raw material and demand have both had an influence on the carbon black business.
Market Trends, Drivers, Restraints, and Opportunities
- Rapid advancements in the chemical and automobile industries is expected to fuel market growth
- The growing paint and coating industries is estimated to propel the carbon black market forward during the forecast period,
- Variations in raw material prices, as well as an increase in the use of silica as a carbon black substitute can hamper market growth in the coming years.
- Increasing demand for carbon black in plastics is expected to offer new growth opportunities for the market.
Scope of South America Carbon Black Market Report
The report on the South America carbon black market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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South America Carbon Black Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Process Types (Gas Black, Furnace Black, Lamp Black, and Thermal Black), Applications (Coatings, Textile Fibers, Tires & Industrial Rubber Products, Plastics, Toners & Printing Inks, and Others)
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Geographical Scope
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Brazil, Argentina, Colombia, Chile, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Mitsubishi Chemical Holdings Corporation; Orion Engineered Carbons; Birla Carbon; and Cabot Corporation
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South America Carbon Black Market Segment Insights
Based on process types, the market is divided into gas black, furnace black, lamp black, and thermal black. The lamp black segment is expected to grow at a rapid pace during the forecast period due to its use in wide variety of applications. On the other hand, the thermal black segment is anticipated to grow at a substantial rate in the projected timeline.
On the basis of applications, the market is segregated into coatings, textile fibers, tires & industrial rubber products, plastics, toners & printing inks, and others. The tires & industrial rubber products segment is projected to expand at a considerable CAGR during the forecast period.
Carbon black is generally used as a filler in tires to improve tread wear, fuel efficiency, and durability. Moreover, carbon black is mostly utilized as a filler in the rubber sector to create reinforcing effects such as modulus or tensile strength changes.
In terms of regions, the South America carbon black market is classified as Brazil, Argentina, Colombia, Chile, and Rest of South America. Brazil is expected to constitute a key share of the market during the projected period due to presence of large source of raw materials.
However, Argentina is anticipated to expand at a rapid pace during the forecast period owing to development of the construction industry. Moreover, increasing plastics and paints and coatings consumption is anticipated to boost carbon black market growth in this country throughout the projection period.
Segments
The South America carbon black market has been segmented on the basis of
Process Types
- Gas Black
- Furnace Black
- Lamp Black
- Thermal Black
Applications
- Coatings
- Textile Fibers
- Tires & Industrial Rubber Products
- Plastics
- Toners & Printing Inks
- Others
Regions
- Brazil
- Argentina
- Colombia
- Chile
- Rest of South America
Key Players
Competitive Landscape
The South America carbon black market is consolidated in nature. Key players competing in the South America carbon black market are Mitsubishi Chemical Holdings Corporation; Orion Engineered Carbons; Birla Carbon; and Cabot Corporation.
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