The carbon black market is projected to reach USD 13.79 Billion by 2021, at a CAGR of 4.6% between 2016 and 2021, predicts MarketsandMarkets. The carbon black market is driven by the increasing demand for carbon black in tire, rubber, plastic, inks & coatings, construction, metallurgy, resin coloring, and paint industries.
Furnace Black to Lead Overall Market
| Increasing Demand for Inks & Coatings
Drive the Carbon Black Market: M&M
Furnace black is produced from heavy aromatic hydrocarbon oils such as petroleum oil and coal oil using the oil furnace process. It is estimated to be the leading type of carbon black
in the overall market as its manufacturing process enables mass production of carbon black
with different particle sizes and structures. In addition, furnace black can be used for various applications, ranging from rubber reinforcement to coloring.
Tire Application - Largest Share of Carbon Black Market
- Tire application accounted for the major share of the overall carbon black market, followed by non-tire rubber application
- Carbon black is majorly used as reinforcing filler in tires
- It improves life span of tires as it conducts heat away from the tread and belt area of tires. Additionally, carbon black optimizes the properties of tires such as handling, fuel mileage, tread wear resistance, abrasion resistance, and hysteresis, thereby, improving the overall performance of tires
Asia-Pacific - Leading Market for Carbon Black
Asia-Pacific is estimated to be the leading market for carbon black
. China is estimated to be the largest market and is projected to be the fastest-growing market for carbon black
during the forecast period. India, Japan, and Thailand are other major countries contributing to the growth of the carbon black
market in the region. The increasing demand of carbon black
from end-use industries such as tire, rubber, and plastic is expected to drive the carbon black
market in these countries.
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