Carbon black has seen increased demand over the years, due to surge in automotive production and the industrial growth in Asia Pacific. Companies functioning in the global market are also being challenged due to changing regulations and concerns regarding the emission of CO2 in carbon black production. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2017-2023. As the market is set to register a high CAGR of 4.59% and is also anticipated to reach a US$17.23 billion by 2023, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2023. Based on SWOT analysis and carbon black market’s analysis based on Porters’ Five Force Model presented in the carbon black market report. Mergers and acquisitions by carbon black market companies are anticipated to help the market during the forecast period 2017-2023.
Baker Hughes today announced the acquisition of a leading carbon capture technology group, Compact Carbon Capture (3C). The acquisition is based on Baker Hughes’ strategic ambition to drive the energy revolution by supplying carbon-intensive sectors, including oil and gas and larger manufacturing activities with decarbonization solutions. In order to achieve the additional CO2 mitigation necessary to reach global climate goals for 2020, the development of technological technologies for carbon capture is generally considered crucial.
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The global carbon black market, during the forecast period 2017-2023, will register growth at a CAGR of 4.59%. The market for carbon black is set to reach US$17.23 billion by 2023. As per market analysts, the global market is anticipated to witness growth owing to the factors such as carbon black acting as a shock absorbent and reinforcing agent as well as the growth of the rubber and tire industries. However, the carbon black market will face challenges and restraints due to the fluctuating costs of raw materials and increase in unfavorable regulations during the forecast period 2017-2023.
Extensive use of carbon black in tire and rubber industries in the market is set to play a key role in determining the growth potential during 2017-2023 years. Analysts have also studied the carbon black market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across process type, end-use, and function segments, factors such as replacement of carbon black with silica could slow down the market’s growth worldwide.
The market has been segmented into process type, end-use, and function. Based on the segment which is process type, the market is categorized on the basis of acetylene black, channel black, furnace black, and thermal black. The global market for carbon black is further segmented based on end-use into inks, non-tire, paints & coatings, plastics, tyres, and others. Furthermore, the market, on the basis of function, is segmented into reinforcement and pigments.
The global carbon black market research report covers all the aspects of the market based on the segmental analysis of these process type, end-use, and function segments. Analysts have also studied the global market’s regional markets spread across many continents and countries. The process type, end-use, and function segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market-based decision makers as well as primary and secondary sources. The market research report presents analysis-based information for companies functioning in the market.
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Volatility in raw material prices may hinder the carbon black market growth. The market research report suggests that companies in the market could be supported by presence of new units close to automobile manufacturing units as well as the use of modern technologies in production during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for carbon black during the forecast period 2017-2023. As per market analysts, the market is set to witness tremendous growth across process type, end-use, and function segments in North America which covers carbon black markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the carbon black market research report.
The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.