The new report by Expert Market Research titled, ‘Latin America Carbon Black Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America Carbon Black market, assessing the market based on its segments like product types, grades, properties, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Volume (2022): USD 472.1 million
- Forecast CAGR (2023-2028): 5.8%
Despite the fact that Latin America has a smaller part of the market than Asia Pacific, Europe, and North America, the sector is predicted to increase steadily in the future. In order to meet expanding local demand, the region now imports large amounts of low-cost carbon black from China. The market is also being propelled forward by the rising plastic and rubber industries. In the Latin American region, Mexico is also a big market.
Carbon black is most used as a reinforcing filler in the rubber industry around the world. The tyre sector accounts for the majority of the material’s applications. The expanding demand for tyres is aided by the increasing ownership of automobiles around the world. Its rising use in the printing, industrial, and construction industries is also propelling the industry forward. Due to technological developments, the global market is predicted to be propelled forward with the inclusion of new end-uses because of corporations investing extensively in various R & D projects. Emerging countries with growing economies and increasing investments by large corporations are likely to fuel the market during the forecast period.
Latin America Carbon Black Industry Definition and Major Segments
Carbon black is made up of fine black amorphous carbon particles that are formed when petroleum or natural gas are burned incompletely.
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Carbon black can be divided into grades such as:
- Specialty Grade
- Standard Grade
The various types of products which can be formed using carbon black are:
- Furnace gas
- Thermal Black
Its application is determined by its various properties like:
- Particle size
- Surface chemistry
- Physical form
This substance is commonly used in:
- Coloring agents in inks
- Electric conductive agent in high technology materials
It finds its applications in sectors like:
- Printing and Packaging
- Building and Construction
The regional markets include The Latin American region like:
Latin America Carbon Black Market Trends
The expanding infrastructure activity in Latin America will drive the carbon black market, with the chemical finding uses in paints, sealants, adhesives, and coatings. Argentina is seeing an increase in its infrastructural development, such as the amount of social housing units, thanks to government programmes. By 2026, Colombia’s infrastructure industry is estimated to receive up to USD 25 billion in investments.
Carbon black is widely utilised in the automobile industry, where it is found in tyres, tubes, hoses, and other miscellaneous parts. The Latin American automobile industry is expected to develop at a strong growth rate in the next years, giving the market even more impetus to expand. The main vehicle producers in Latin America are Brazil and Mexico. Nearly 70% of the vehicles in the region come from these two countries.
The automobile sector in Brazil is rebounding from the 2016 economic crisis. With over 2.17 million new vehicles registered in 2017, the country had a 9.2 percent increase in new vehicle registrations compared to 2016. The increased domestic demand for automobiles is driving Brazil’s automobile market. Mexico has the world’s second-largest automobile fleet, with 41.7 million vehicles, and its automobile sector is fueled by its closeness to a major market like the United States. Following the completion of the NAFTA negotiations with the United States, the automobile sector is likely to develop even more.
The rising applications in industries such as printing, ink, and plastic are also helping the Latin American carbon black market. The region’s plastic sector is being pushed by the growing packaging industry. With expanding applications of carbon black in publishing printing, print packaging, and commercial printing, the printing industry is emerging as a major end-use sector. By 2021, the print packaging industry is anticipated to be worth USD 7.4 billion.
Key Market Players
The major players in the market are Birla Carbon, Cabot Corporation, Continental Carbon Company, Orion Engineered Carbons S.A., Polimix Ambiental and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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