Increasing demand for carbon black form the tire manufacturing industry is major factor expected to drive growth of the global carbon black market over the forecast period.
The global carbon black market report has been segmented on the basis of type, application, and region.
On the basis of type, the global carbon black market has been segmented into furnace black, channel black, thermal black, and acetylene black. The furnace black segment is expected to account for major share in terms of revenue in the global carbon black market. Manufacturing process of furnace black enables mass manufacturing of carbon black with different particle structures and sizes. In addition, furnace black is used for various end-use applications, ranging from rubber strengthening to coloring. The furnace black segment revenue is also anticipated to register highest CAGR over the forecast.
On the basis of application, the global carbon black market has been segmented into tire, plastic, non-tire rubber, inks and coating, and others (graphite manufacturing, lithium-ion batteries, construction industry, and metallurgy). The tire segment is expected to account for significant share in the global carbon black market in terms of revenue, owing to increasing demand for carbon black from tire industries as it acts as reinforcing agent and increases strength and durability of tire.
On the basis of region, the global carbon black market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Asia Pacific market is estimated to dominate with significant revenue share in the global carbon black market in 2017. Asia Pacific market is projected to register highest CAGR in terms of revenue in next ten years, owing to increasing demand from automobile, pharmaceutical, and paint & coating industries in countries in this region.
Key players operating in the global market include Mitsubishi Chemical Corporation, Tokai Carbon Co., Ltd., Cabot Corporation, Jiangxi Black Cat Carbon Black Inc., Ltd., Phillips Carbon Black Limited, Thai Carbon Black Public Company Limited, China Synthetic Rubber Corporation, OMSK Carbon Group OOO, OCI Company Ltd., and SID Richardson Carbon & Energy Co.