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Carbon Black Market Key Players and Production Information Analysis by Forecast 2020–2027, Fortune Business Insights™

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Niteshvhaval
Carbon Black Market Key Players and Production Information Analysis by Forecast 2020–2027, Fortune Business Insights™

The global carbon black market size is expected to showcase considerable growth by reaching USD 17,027.1 million by 2027 while exhibiting a CAGR of 4.4% between 2020 and 2027. This growth is attributed to the rising rubber industry and the increasing incidence of road fatalities that is propelling the demand for advanced carbon black globally. This information is published by Fortune Business Insights, in its latest report, titled, “Carbon Black Market Size, Share & Industry Analysis, By Type (Furnace Black, Channel Black, Thermal Black, Acetylene Black, Others), Grade (Standard Grade, Specialty Grade), Application (Tire, Non-Tire Rubber, Inks & Coatings, Plastic, Other), and Regional Forecast, 2020-2027.”

The report further mentions that the carbon black market stood at USD 12,639.2 million in 2019 and is likely to gain momentum during the forecast period.

Supply Chain Disruption in Automotive Industry to Hinder Growth

The lockdown imposed by the government agencies to limit the spread of the novel coronavirus has led to a major disruption in the supply chain operations. This is due to the suspension of industrial processes and reduced number of workforce. The fewer availability of raw materials is further leading to a large scale interruption in industrial activities that is likely to hinder the market growth during the forecast period.

Carbon black is produced by an incomplete combustion process of heavy petroleum products such as coal tar, ethylene cracking tar, and FCC tar. Owing to its high coloring power, it is extensively used as a pigment for several industrial applications such as automotive, electronics, inks & coatings, and others. 

What does the Report Include?

The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Increasing Demand for Rubber from Automotive Sector to Propel Market Growth

The increasing number of road accidents and the growing demand for superior ride experience is propelling the car manufacturers to adopt optimum quality tires. According to the report by the World Health Organization, around 1.35 million lives are lost due to road vehicle crashes across the globe. Major companies such as Michelin, MRF, and others are focusing on developing advanced tires to sustain any road conditions that are likely to drive the adoption of carbon black globally. Therefore, the growing demand for rubber from the automotive sector is expected to bode well for the global carbon black market growth in the forthcoming years.

Browse Summary of This Research:

https://www.fortunebusinessinsights.com/industry-reports/carbon-black-market-101718

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