According to “Global Carbon Black Market Forecast & Opportunities, 2020”, global carbon black market is expected surpass US$25 billion by 2020, driven by rising demand from tyre industry, in addition to construction and manufacturing sectors which use carbon black to provide strength to industrial rubber compounds and other equipment.
Global carbon black market is highly competitive, with all major players investing heavily in R&D to improve the quality of their product. The three largest players in the market are Birla Carbon, Cabot Corporation and Orion Engineered Carbons.
Region-wise, the market is dominated by Asia-Pacific, wherein majority of the demand emanates from emerging economies such as China and India, on account of expanding tyre manufacturing facilities and growth in construction sector. Asia-Pacific is anticipated to maintain its dominance in the market through 2020, with tyre manufacturers shifting production base to developing countries in the region.