Asia-Pacific Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific carbon black market is expected to expand at a CAGR of more than 6% during the forecast period. Major factors driving the market studied are growing application in fiber and textile industries and increasing market penetration of specialty black.

Key Highlights

• Declining automotive industry and availability of substitutes are expected to hinder the growth of the market studied.
• Growth in the adoption of electric cars and self-driving cars are likely to create opportunities for the market in the coming years.
• China is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.

Key Market TrendsIncreasing Application for Tires and Industrial Rubber Products

• Carbon black is used in tires primarily as a filler to enhance its various characteristics such as tread wear, fuel economy, longevity, etc.
• Carbon black is mainly required in the inner liners, sidewalls, and carcasses. It has heat-dissipation capabilities when added to rubber compounds. It also improves handling, tread wear, fuel mileage, as well as provides abrasion resistance.
• Carbon black is one of the most important industrial chemicals manufactured globally. Other than tires, it is also required for various molded and extruded industrial rubber products, such as conveyor belts, gaskets, air springs, grommets, vibration isolation devices, and hoses. It provides flex strength in such products.
• Furthermore, in the rubber industry, carbon black is majorly used as a filler to achieve reinforcing effects, such as altering the modulus or tensile strength. In rubber-based adhesives, sealants, and coatings, it is used to enhance the intermolecular or cohesive forces of the product and to impart conductivity. Furthermore, in coatings, carbon black is used as a light-absorbing additive to counteract chemical degradation reactions.
• Therefore, considering the aforementioned factors, the demand for carbon black is expected to rise from the tires and industrial rubber products segment moderately during the forecast period.

China to Dominate the Market

• China is the largest consumer of carbon black in the Asia-Pacific market. This is majorly due to the increasing demand for carbon black from the automotive sector. The tire application accounts for the largest share of carbon black market in China.
• China also stood as the world’s largest exporter of tires in terms of revenue. With the increase in production of tires, the demand for consumption of carbon black is also expected to increase in China.
• On the contrary, due to a series of factors, such as supply surpluses, volatile feedstock prices, low capacity utilization rates, rising labor costs, and tightening environmental regulations, the tire manufacturing costs have increased rapidly when compared to those in south east Asia, eastern Europe, and to over 90% of those manufactured in the United States.
• The coatings market is growing at a rapid rate in China, with increasing downstream demand. The booming construction, automotive, and industrial sectors are likely to propel the market of paints and coatings, which, in turn, is expected to drive the carbon black, during the forecast period.
• Owing to the increasing demand from the tire and other end-user industries, carbon black manufacturers are setting up new production facilities in addition to the expansions of the existing manufacturing facilities.
• Hence, with the rapid growth in the demand from various applications, the demand for carbon black is expected to increase rapidly in China in the upcoming years.

Competitive Landscape

The Asia-Pacific carbon black market is consolidated in nature. The major companies include Cabot Corporation, Mitsubishi Chemical Holdings Corporation, Orion Engineered Carbons, Imerys Graphite & Carbon, and Birla Carbon, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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