Pune, India -- (SBWIRE) -- 10/21/2020 -- The growing demand for carbon black from the tire industry is expected to foster healthy growth of the market, states Fortune Business Insights in a report, titled "Carbon Black Market Size, Share & Industry Analysis, By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black), By Application (Tires, High-Performance Coatings, Plastics, Others) and Regional Forecast, 2019-2026" the surge in construction activities is likely to propel the growth of the market

The Report Lists the Main Companies in the Carbon Black Market:

Birla Carbon
Cabot corporation
Tokai Carbon Co. Ltd.
Himadri Chemicals
Industries Ltd.
Mitsubishi Chemical Holdings Corporation
Nippon Steel Carbon
Asahi Carbon Co. Ltd
Jiangxi Black Cat Carbon Black Co. Ltd.

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The report on the carbon black market includes:

Greater insights into the latest developments
Well-analyzed data with facts and figures
Key growth exhibitors
Factors restricting market
Market Driver:

Inflated Demand for Rubber Products to Augment Growth

The booming construction industry is expected to create lucrative business opportunities for the market. The growing demand for rubber compounds in industrial applications is predicted to spur opportunities for the market. The rising application of carbon black in the tire industry owing to the tensile strength and abrasion resistance for strength and longevity in automotive tires is expected to enable speedy expansion of the market in the foreseeable future. The demand for carbon black in paints and coatings is expected to further stimulate the growth of the market. The growing need for rubber products such as shoe soles, gloves, and vehicle tires will promote the growth of the market. Also, the growing partnerships and acquisition among players are expected to strengthen the market in the forthcoming years. For instance, in October 2017, Cabot Corporation announced that it has plans to purchase Tech Blend, a leading manufacturer of black masterbatches.

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However, the volatility in raw material prices is expected to restrict the adoption of carbon black in industries. The environmental concerns regarding carbon black are predicted to further dampen the growth of the market. The utilization of Silica as an alternative is expected to retard the development of the market.

Regional Analysis:

Increasing Demand for Tyres to Boost Growth in Asia Pacific

Geographically, the global carbon black market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to witness substantial growth during the forecast period owing to the increasing demand for tires in India and China. The flourishing automotive sector is expected to spur opportunities for the market in the region. The growing development and consumption of automobiles in India is expected to enable speedy expansion of the market. North America is predicted to rise tremendously during the forecast period due to the growing refurbishing of automobiles. The heavy demand for high-performance coatings in the automotive industry is predicted to create lucrative business opportunities for the market in North America. Europe is expected to grow steadily owing to the stringent environmental regulations by European countries. Latin America is predicted to grow substantially owing to the shift towards carbon black feed stock in Mexico.

Key Development:

October 2018: ADNOC commissioned a carbon black unit in Ruwais, UAE, becoming one of the largest carbon black producers in the Middle east.

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