BURNABY, Canada, June 20, 2015 /PRNewswire/ --
Tyre industry, in conjunction with expanding construction and manufacturing sector, to drive global carbon black market through 2020
According to recently published TechSci Research report, "Global Carbon Black Market Forecast & Opportunities, 2020", global carbon black market is expected to surpass USD25 billion by 2020. Growth in the market is anticipated on account of increasing demand for carbon black in various application areas. Carbon black finds application across various sectors owing to its reinforcing properties, providing strength and stability to rubber compounds, particularly automotive tyres. Growth in the tyre industry, along with expansion in construction and manufacturing sectors, is set to drive global carbon black market through 2020.
Global carbon black market is highly competitive and all major companies producing the commodity are focused on diversification and improvement of their product portfolio. Moreover, owing to the capital intensive nature of the industry, entry of new players in the market is restricted, and the market is dominated by large companies with significant cash flows. Birla Carbon, Cabot Corporation and Orion Engineered Carbons are the leading carbon black companies in the market, which collectively accounted for about one-third of global carbon market in 2014. Other global players include Jiangxi Black Cat, China Synthetic Rubber Corporation, Tokai Carbon and Phillips Carbon Black, among others.
"Global carbon black market will continue to exhibit promising growth over the next five years on the back of increasing demand worldwide. With growing applications of carbon black in paints, coatings, polymers and electronic equipment, the market has witnessed increased penetration of specialty carbon black. In addition, with improving quality of tyres being produced, the average life of a tyre is increasing every year, which has prompted carbon black manufacturers to graduate towards the production of specialty carbon black which provides higher profit margins." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"Global Carbon Black Market Forecast & Opportunities, 2020" has analyzed the potential of global carbon black market and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research