New York, NY -- (SBWire) -- 12/07/2020 --The global Carbon Black market is forecast to reach USD 28.91 Billion by 2027, according to a new report by Reports and Data. Carbon black is a commonly used conductive additives that is used for these batteries owing to low cost, low weight, and high chemical stability. Additionally, it also delivers higher battery capacity and rate capability and is non-toxic. Various studies have successfully proved that the use of carbon black improves the battery's cycle life. For instance, Berkeley Lab researchers used carbon black additive for making composite cathodes for lithium-ion batteries. The resulting lithium-ion cells were found to last one-third longer and deliver more energy, at no significant additional cost.
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It is used in tires as it provides excellent reinforcement. Though mainly used for strengthening rubber tires, carbon can also act as a pigment or UV stabilizer, and conductive or insulating agent in a variety of rubber, ink, plastic, and coating applications. Carbon black is increasingly being used in tires, rubber and plastic products, printing inks, and coatings, owing to these properties. Apart from tires, other everyday uses of carbon black are in objects like hoses, conveyor belts, and automotive coatings.
North America carbon black market is projected to witness significant growth in the forecast period. Expanding automotive industry, coupled with the rising demand for lithium-ion batteries from the automotive and transportation industry, are some of the major driving factors for the market in the region. Moreover, growing expansion strategies by companies operating in the region would also boost the industry share. For example, in February 2019, Cancarb Ltd., a leading manufacturer of carbon black, announced investment of USD 40.1 million to expand its thermal carbon black production capacity in Canada by adding a sixth production unit.
Asia-Pacific is projected to dominate the market in the forecast period. Increasing adoption of carbon black in end-use industries, including automobiles, paints, and coatings, and rubber is expected to boost the market growth. Moreover, the adoption of expansion strategies by market players operating in the region would also influence growth.
Key market players include Phillips Carbon Black Limited, Cabot Corporation, OCI Company Ltd., Birla Carbon, Omsk Carbon Group, Orion Engineered Carbons SA, Mitsubishi Chemical Corporation and Tokai Carbon Co., Ltd. Tokai Carbon, a Japanese chemical company is major global manufacturer.
For the purpose of this report, Reports and Data has segmented the market on the basis of process type, grade, application, end-use, and region:
Process Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Furnace Black Process
Channel Black Process
Thermal Black Process
Acetylene Black Process
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Grade Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Standard Grade
Specialty Grade
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Tires and Industrial Rubber
High Performance Coating
Plastics
Films and Sheets
Pressure Pipes
Molded Parts
Toners and Printing Inks
Wires and Cables
Paints and Coatings
Textile Fibers
Others
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End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Consumer Goods
Industrial
Automotive & Transportation
Interior
Exterior
Fuel Systems
Packaging
Textiles
Apparel
Upholstery
Others
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
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Carbon Black Market Checkout the Unexpected Future 2027 : Key Players Phillips Carbon Black Limited, Cabot Corporation, OCI Company Ltd