RALEIGH, North Carolina, January 29, 2019
RALEIGH, North Carolina, January 29, 2019 /PRNewswire/ --
The global market for carbon black is expected to grow at a CAGR of 3.5 - 4 percent until 2022, according to Beroe Inc., a procurement intelligence firm. The market for carbon black is mainly driven by the tire industry in Asia and specialty carbon black industry across the globe.
The U.S. carbon black producers profited from the tire plants expansion in regions such as Mexico, which resulted in an increase in the export volume, and a growth of 4 - 5 percent is expected from this sector. Producers in regions such as Russia, China, and Europe are actively seeking export in order to offset the surplus supply prevailing in the regions. Moreover, for the regions such as Russia and China, there is a lack of heavy oil-based feedstock; thus they import carbon black from other regions such as the U.S.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
There are a considerable number of substitutes of carbon black and many companies are on the look-out for commercializing such products. These products are costlier than carbon black; therefore, producers have started investing in large projects to commercialize these products on a great scale. In the long run, the availability of substitutes would be high, which would be a threat to the carbon black industry.
Globally, companies such as Cabot and Aditya Birla are setting up plants in Asia to take advantage of the increase in demand in the region by utilizing the coal-based carbon black feedstock advantage. Furthermore, western producers have low operational cost due to their better process technology, which gives them a 35 percent reduced input cost than the Asian players.
The research methodology adopted for the report included:
The production of carbon black base has moved to Asia from the developed markets, as Asia remains to reemphasize its position as a global automobile hub. Furthermore, 0.91 MMT of carbon black capacity is expected to be added to the global production base by 2022.
The report also includes:
Cost & Pricing Analysis:
Industry Best Practices:
About Beroe Inc.:
Beroe's unique business model involves providing market intelligence and analytics to the procurement teams of businesses across the globe. Beroe leverages its deep domain expertise in 300 + categories across 14 industries. It boasts of more than 80 of the Fortune 500 companies as its clients.
To learn more about Beroe Inc, please visit http://www.beroeinc.com