Global Carbon Black Market was valued at US$ 1,156.1 million in 2022 According to Carbon Black Market Report, by Product Type (Polyester (Filament Fiber, Staple Fiber, and Others), Nylon, Acrylic, and Others), by End User (Home Textiles, Apparels, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East and Africa), published by Coherent Market Insights.
The global carbon black market was valued at US$ 1,156.1 million in 2022. The carbon black market is expected to register a CAGR of 7.5% over the forecast period (2023-2030), to reach US$ 2,058.2 Million by 2030.
The growing demand for nylon textile fibers in the production of synthetic textiles is expected to bring new market growth opportunities owing to its durability, abrasion, and thermal resistance. This makes them suitable for applications such as carpets, seatbelts, and military applications. Moreover, the growing demand for home furnishing fabrics is further creating the demand for carbon black. Thus, the growing demand for nylon textile fibers in the production of synthetic textile is augmenting the market growth.
The global carbon black market was harshly affected by coronavirus pandemic, impacting various businesses and manufacturing activities. Disruptions in value chain have led to huge losses for manufacturers operating in the global carbon black market. Even though the COVID-19 pandemic has weakened all business activities in the carbon black market, manufacturers are creating potential opportunities owing to the increasing demand from various end-use industries such as tire, plastic, and paint and coatings. Increasing applications of carbon black in coating, printing inks, and plastic processing are creating revenue streams for manufacturers in the carbon black market.
To know the latest trends and insights prevalent in this market, click on the link below:
https://www.coherentmarketinsights.com/market-insight/carbon-black-market-for-textile-fibers-4662
Browse 50 market data tables* and 40 figures* on "Global Carbon Black Market” - Forecast to 2030.
Key Trends and Analysis of the Global Carbon Black Market:
- Mergers and acquisitions by key players in the carbon black market are the key trends in the market. This is expected to foster the market growth in the near future. For instance, in March 2022, Cabot Corporation acquired Tokai Carbon Group to purchase its carbon black manufacturing facility in Tianjin, China.
- The increasing demand for apparel due to the rising sense of fashion among consumers is surging the carbon black market growth. Carbon black is widely used in the painting of apparel. It is also used to reduce the wear and tear of the apparel. The increasing number of working women coupled with the emerging markets, such as China, India, and Brazil, is further propelling the demand for apparel. Thus, the growing demand for apparel is fostering the carbon black market growth.
Key Takeaways of the Global Carbon Black Market:
- Among product type, the polyester segment held a dominant position in the market and accounted for 59.0% shares in the global carbon black market in 2022
- In January 2021, Himadri Specialty Chemical Ltd., a company engaged in the manufacturing of carbon materials and chemicals, partnered with Petrotech Group, a leading chemical and ingredients manufacturer in Rajasthan, for marketing its carbon black pigments
- New product launches, merger and acquisitions, strategic partnerships, expansion, and research and development activities for carbon black are the key strategies adopted by players in the global carbon black market. In June 2021, Orion Engineered Carbons SA, a manufacturer of specialty carbon blacks and rubber carbon blacks, joined the HiQ-CARB consortium to provide the lithium-ion battery industry with sustainable and high-performance carbon additives.
