Growing adoption of carbon black as a coloring agent in textile manufacturing is also expected have a positive impact on the market growth. Carbon black improves color spread, exhibits high tensile strength and its low environmental impact is further expected to fuel its demand in military and sports textile applications.
Polyester emerged as the leading product segment for carbon black market for textile fibers and accounted for over 55% of the total market volume in 2013. Polyester is also expected to be one of the fastest growing product segments over the next six year. The segment is expected to grow at an estimated CAGR of 6.2% from 2014 to 2020. Growth of textile industry particularly in Asia Pacific and Latin America is expected to remain a key driving factor for this segment.
Further key findings from the study suggest:
- Global carbon black market for textile fibers demand was 90.1 kilo tons in 2013 and is expected to reach 135.9 kilo tons by 2020, growing at a CAGR of 6.1% from 2014 to 2020.
- Apparel emerged as the largest end-use industry for carbon black based textile fibers and accounted for 54.2% of the total market volume in 2013. Increasing disposable income in emerging economies of China, India, Brazil and Mexico have been major factor driving apparel demand. Apparel is also expected to witness the highest growth rate of 6.2% from 2014 to 2020.
- Asia Pacific emerged as the largest regional market and accounted for 57.6% of total market volume in 2013. Growth of textile industry coupled with increasing penetration of synthetic textiles has been a major driving factor for the regional market. Asia Pacific is also expected to be the fastest growing regional market at an estimated CAGR of 6.3% from 2014 to 2020.
- European market is expected to grow at an estimated CAGR of 5.5% from 2014 to 2020. Increasing synthetic textile demand in apparel, military clothing, and home textiles such as carpets, rugs and bedding is expected to drive the regional market.
- Global carbon black market for textile fibers is highly competitive in nature with companies investing in R&D to develop high quality products. Some of the major companies operating in the global market include Sid Richardson Carbon & Energy Co., Birla Carbon, Orion Engineered Carbons, Phillips Carbon Black Ltd., Continental Carbon, Cabot Corp. and Mitsubishi Chemical Corp.
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For the purpose of this study, Grand View Research has segmented the carbon black market for textile fibers on the basis of product, end-use and region:
Global Carbon Black Market for Textile Fibers Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
Global Carbon Black Market for Textile Fibers End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
Global Carbon Black Market for Textile Fibers Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 – 2020)
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