According to a new market report published by Lucintel, the future of the carbon black market looks good with opportunities in tire, non-tire rubber, plastic, coating, and ink applications. The global carbon black market is forecast to grow at a CAGR of 5.9% from 2015 to 2020. The major driver of growth for this market is the strong demand for carbon black from tire and industrial rubber compound.
In this market, carbon black is used in tire, non-tire rubber, plastic, ink, and coating applications. Lucintel predicts that the demand for carbon black in tire application is likely to experience good growth in the forecast period, supported by continuously increasing fleet size of passenger cars and light commercial vehicles.
Within the carbon black market, the transportation industry is expected to remain the largest segment over the forecast period due to increasing demand for tire and other rubber molded parts. Asia Pacific is expected to remain the largest market due to higher vehicle production and shift of tire companies in low-cost countries, such as India and China. Asia Pacific and Rest of the World are expected to witness good growth over the forecast period because of growth in automotive demand and increasing investment in tire production facilities in low-cost countries. For market expansion, the report suggests innovation and new product development, where the unique characteristics of carbon black can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include the shift from commodity to more specialize grade carbon black, increasing use of carbon black as pigment in lightweight auto parts to enhance conductivity and UV protection properties, and increasing merger and acquisition activities with the purpose of consolidating the market. Cabot Corporation, Birla Carbon, Orion Engineered Carbons, Jiangxi Black Cat Carbon Black Co., Ltd., China Synthetic Rubber Corporation, and Philips Carbon Black are among the major suppliers of carbon black. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global carbon black market by application, end user industry, and region and has come up with a comprehensive research report, “Global Carbon Black Market 2015-2020: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes the forecast for the global carbon black market through 2020, segmented by application, end user industry, and region as follows:
By application [$ million shipment analysis from 2009 to 2020]:
– Tire
– Non-Tire Rubber
– Plastic
– Ink
– Coating
– Others
By end user industry [$ million shipment analysis from 2009 to 2020]:
– Transportation
– Industrial
– Building & Construction
– Printing & Packaging
– Others
By region [$ million shipment analysis from 2009 to 2020]:
– North America
– Europe
– Asia Pacific
– Rest of the World
Some of the features of “Global Carbon Black Market 2015-2020: Trends, Forecast, and Opportunity Analysis” include:
– Market size estimates: Carbon black market size estimation in terms of volume (kt) and value ($M) shipment.
– Trend and forecast analysis: Carbon black market trend (2009-2014) and forecast (2015-2020) by region, application and end user industry
– Segmentation analysis: Carbon black market size by various application segments such as coating, ink, plastic, non-tire rubber, tire and others. By various end user industry, such as transportation, industrial, building and construction, printing and packaging and others both in terms of volume and value shipment.
– Regional analysis: Carbon black market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
– Growth opportunities: Analysis on growth opportunities in different applications and regions.
– Strategic analysis: This includes M&A, new product development, and competitive landscape of carbon black suppliers.
– Analysis of competitive intensity of the industry based on Porter’s Five Forces model.