Global carbon black industry to become a $36 billion market by 2019
Published On 04-Jun-2016 00:45:16
According to the recent report of BCC Research, the Carbon Black market is expected to grow at a five year compound growth rate (CAGR) of 4.2 per cent from 2014-19 and is going to become a $36 billion global market by 2019.
As we know, carbon black forms a major ingredient in tyre manufacturing but apart from this, it is also used as filler in a number of industrial products such as plastics and rubber items. Fillers are the inexpensive materials that are added to the base materials like plastics, paper and concrete, thereby reducing the production costs while also improving the reinforcement properties of plastics, adhesives, paper and paints.
A separate report has been released by Persistence Market Research (PMR) on Conductive Carbon Black (CCB). and it pegs CCB market expansion at 6.8 per cent CAGR in value and 6 per cent in volume by 2020.
The report includes various segments of study such as plastics, batteries, rubber, electrodes, paints, coatings and others. The growth of conductive carbon black is mostly driven by the momentum generated by the plastic industry and the expanding application of conductive carbon black in various industries. Conductive carbon black's ability to allow conductivity at low concentrations distinguishes it from the usual carbon black.
With rising experimentation with conductive carbon black, we can expect an encouraged usage of this in a wide range of items in near future. Nowadays, tyre manufacturers are focusing on making efficient tyres and a heavy investment in research and development is being done to put conductive carbon black to use in tyres as well.
"The addition of fillers to a polymer formulation lowers the compound cost or improves properties such as mechanical strength and improvement," says BCC research analyst Tanmay Joshi. "In addition, increasing demand for plastics from the automotive, building, construction, electronics and packaging industries, coupled with growing consumption of carbon black in plastics, is expected to fuel market demand for plastics over the forecast period," he added.