“Latin America Carbon Black Market Report and Forecast 2021-2026”
Latin America Carbon Black Market to be Driven by the Region’s Recovering Automotive Industry During the Forecast Period 2021-2026
Expert Market Research’s new report titled ‘Latin America Carbon Black Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Latin America Carbon Black market, assessing the market based on its segments such as product types, grades, properties, application and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market volume (2020): 0.7 million metric tons
- Forecast CAGR (2021-2026): 4.4%
Despite the fact that Latin America has a smaller market share than Asia-Pacific, Europe, and North America, the industry is expected to grow steadily in the future. In order to meet growing local demand, the region now imports large quantities of low-cost carbon black from China. The market is also propelled by booming plastic and rubber industries. In the Latin America region, Mexico is also a big market.
Carbon black is the most widely used reinforcing filler in the rubber industry around the world. The tire sector represents the majority of applications for the material. The growing demand for tires is aided by the growing number of automobile owners around the world. Its increasing use in the printing, industrial and construction industries is also propelling the industry forward. Owing to technological developments, the global market is expected to be propelled forward with the inclusion of new end-uses owing to the companies investing heavily in various R&D projects. Emerging countries with growing economies and increasing investments from large companies are expected to fuel the market over the forecast period.
Industry definition and major segments
Carbon black is made up of fine, amorphous black carbon particles that form when oil or natural gas is incompletely burned.
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Carbon black can be divided into grades such as:
- Specialty category
- standard quality
The different types of products that can be formed from carbon black are:
- Gas oven
- Thermal Black
Its application is determined by its different properties such as:
- Particle size
- Surface chemistry
This substance is commonly used in:
- Dyes in inks
- Electrical conductive agent in high-tech materials
It finds its applications in sectors such as:
- Printing and packaging
- Building and construction
Regional markets include the Latin American region such as:
Expanding infrastructure business in Latin America will drive the carbon black market, with the chemicals finding uses in paints, sealants, adhesives and coatings. Argentina is experiencing an increase in infrastructural development, such as the number of social housing units, thanks to government programs. By 2026, the Colombian infrastructure industry is expected to receive up to $25 billion in investments.
Carbon black is widely used in the automotive industry, where it is found in tires, inner tubes, hoses and other miscellaneous parts. The Latin American automotive industry is expected to develop at a high growth rate over the next few years, giving the market even more momentum to expand. The main vehicle manufacturers in Latin America are Brazil and Mexico. Nearly 70% of vehicles in the region come from these two countries. The automotive sector in Brazil is recovering from the economic crisis of 2016. With more than 2.17 million new vehicles registered in 2017, the country recorded a 9.2% increase in new vehicle registrations compared to 2016. L he increase in domestic demand for automobiles is driving the Brazilian automobile market. Mexico has the second largest car fleet in the world, with 41.7 million vehicles, and its automotive sector is fueled by its proximity to a major market like the United States. Following the completion of NAFTA negotiations with the United States, the automotive sector is expected to grow further.
Growing applications in industries such as printing, ink, and plastic are also helping the Latin American carbon black market. The region’s plastics sector is driven by the growing packaging industry. With the expansion of carbon black applications in publishing printing, print packaging, and commercial printing, the printing industry is emerging as a major end-use sector. By 2021, the printed packaging industry is expected to be worth $7.4 billion.
Latest Latin America Carbon Black Market News: https://www.expertmarketresearch.com/pressrelease/latin-america-carbon-black-market
Main market players
The major market players are Birla Carbon, Cabot Corporation, Continental Carbon Company, Orion Engineered Carbons SA, Polimix Ambiental and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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