Specialty carbon black market growth rate , with 7% CAGR
Specialty Carbon Black Market growth to be robust with growth of 7% during 2019 to 2025
SOUTHLAKE, TX, UNITED STATES, September 19, 2019 /EINPresswire.com/ — Specialty Carbon Black Market is one of the most promising markets with strong influences drawn from key end-users such as Plastics, Inks, and Paints & Coatings as well as emerging applications in the field of metallurgy. The Specialty Carbon Black market size proceeds growth phase with 7% CAGR through 2025.
The rapid market penetration from automotive and transport industry is observed for a wide range of automotive assembling applications in order to enhance their performance in terms of physical, electric, and optical properties.
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In addition, the OEMs of rubber and motor vehicle industries are increasingly targeting the use of specialty carbon black over benefits of higher profit margins and no cyclical risks.
Major OEMs of aerospace and automotive are relying on specialty carbon black to impart durability and strength to tires and other automotive parts.
Despite the numerous advantages filtrated by speciality carbon, growing trend of substituting carbon black with silica and other silanes large and hence slows down the market growth. Silica and Silanes are adapted on a larger scale to meet the criteria of green tires production.
Further, recovery in crude oil prices has a major impact on the pricing of speciality carbon black: following the crude oil price increases, the cost of production escalates and reduces the profit margins of manufacturers of speciality carbon black.
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Tire and industrial rubber product applications hold the macro market share
Tire manufacturing remains the leading market share holder, followed by processing of rubber compounds with high performing properties of end-use product. The presence of broad portfolio of specilaity carbon black products for conductive, reinforcing and semi-reinforcing along with quality certifications is building long run market opportunity.
Continental Carbon Company provides speciality carbon black product with advantages of UV protection, pigmentation, conductivity and anti-static.
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Robust market growth across Asia Pacific region is observed through the forecast period
Asia Pacific will contribute highest to the global major carbon black market share with China and India as the frontier player. Continued expansion of the tire and auto locomotive industries, high economic growth along with rapid industrialization in the emerging regions of Asia Pacific is boosting speciality carbon black market growth.
The speciality carbon black market is growing at a rapid rate in China, with increasing downstream demand, the booming construction, automotive, and industrial sectors.
However, key players across North America are undergoing strategic changes such as revising product pricing based on sources of carbon black. For instance, in July 2019, Birla Carbon, a leading supplier of carbon and flagship businesses of US$ 48.3 billion changed all North America contract price formulas of carbon black sourced from marine fuel.
Key companies are boosting specialty carbon black market value
The profitable earnings across key specialty carbon black market players is adding market volume , for instance, Phillips Carbon Black Ltd (PCBL) is expecting speciality carbon black share to almost double to 15 per cent of its total production capacity in the next two years. Value-added and speciality carbon currently account for around 7-8 per cent of its capacity.
Other key speciality carbon black market players contributing market growth include Asahi Carbon Co. Ltd, Birla Carbon, Phillips Carbon Black Ltd, Orion Engineered Carbon, Cabot Corporation, Jiangxi Black Cat Carbon Black Co. Ltd, Abu Dhabi National Oil Company (ADNOC), Himadri Chemicals and Industries Ltd, Longxing Chemical Stock Co. Ltd, and Nippon Steel Carbon Co. Ltd
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