NEW YORK, July 14, 2020
NEW YORK, July 14, 2020 /PRNewswire/ -- 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 increasingly being used in tires, rubber and plastic products, printing inks, and coatings, owing to these properties. It is used in tires as it provides excellent rubber reinforcement. Though primarily used for strengthening rubber in tires, the product can also act as a pigment, UV stabilizer, and conductive or insulating agent in a variety of rubber, plastic, ink, and coating applications. Apart from tires, other everyday uses of carbon black are seen in objects like hoses, conveyor belts, plastics, printing inks, and automotive coatings.
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Carbon black is one of the most commonly used conductive additive used for these batteries due to low weight, low cost, and high chemical inertness. Furthermore, it also provides higher battery capacity and rate capability and is non-toxic. Several studies have successfully shown that the adoption of the product improves the battery cycle life. For instance, Berkeley Lab researchers led by Robert Kostecki used carbon black additive for manufacturing 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 increase in cost.
The COVID-19 impact:
COVID-19 has had a significant effect on the global automobile market, further affecting the carbon black industry. However, the demand for the product from other sectors such as ceramics and refractories were able to offset this decline. Furthermore, the pandemic also has a significant impact on the supply chain as countries, particularly in Asia-Pacific, witnessed a significant slowdown in their economic activities. However, the ease in restrictions and government initiatives to start the consumer goods market's economic activities creates hope for the imminent recovery of the market.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have 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)
Grade Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
End Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
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