A major driver in the carbon black market is growth in the automotive industry. The outstanding growth in chemical and automobile industry and naturally available essential resources is actively driving the global carbon black market.
Globally, the largest sales market for carbon black is the automotive industry. Carbon black is produced by partial combustion of heavy petroleum products like coal tar, FCC tar and ethylene cracking tar. It is a black colored powder in its physical state. It has variants such as thermal black, acetylene black, channel black, furnace black and lampblack. Carbon black is used as a tincture and finds application in plastics and automotive sector. It is crucial for tire manufacturing companies and is used as a reinforcing agent in rubber goods. The development of the carbon black market is crucial for the tire manufacturers and for producers of a wide range of rubber products. Most of the carbon black consumption is associated with production of tires of all types. Other industrial sectors including paints, plastics, printing inks and varnishes also use carbon black to deploy black color to their products. Carbon black is also used as a replica compound for diesel oxidation experiments for diesel soot.
One of the segments of the global carbon black market is specialty carbon black which finds application in printing inks, metallurgy and plastics. Specialty carbon black is conductive and reduces the electrical resistivity by forming a conductive network through the rubber or polymer matrix. The key division in specialty carbon black market includes low pellet, softer pellet, low sieve residue low and poly-nuclear aromatics (PNA). Some carbon black manufacturers are expanding their business and entering into specialty carbon market that is likely to increase the rivalry in the industry to some level.
The Global carbon black market can be categorized on the basis of application into Rubber applications and other applications. The market can also be categorized on the basis of end user into tire industry, rubber goods industry and other non-rubber goods industry. The major restraint to the market includes pricing of raw materials and crude oil. Production costs and prices of Carbon Black are mainly influenced by the prices for raw materials and vary greatly due to fluctuating prices for crude oil.
The global carbon black market can be segmented broadly into four regions namely North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific leads the market share in the global carbon black market and also has manufacturers producing carbon black at cheapest price. China is the largest manufacturer and supplier of carbon black globally and consumes more than one-third of the total global carbon black market volume. Competitive scenario related to pricing of carbon black is witnessing to lower the carbon black business by many companies in North America and Europe as countries in Asia-Pacific region is producing carbon black at relatively lower prices. This has led to migration of production facilities of producers to Asia-Pacific in order to remain competitive in market by minimizing production cost.
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