Global Carbon Black Market for Textile Fiber: Shifting Consumer Preference towards Synthetic Textile Propels Market Growth
The global textile industry is undergoing a major transformation. Consumers nowadays prefer synthetic textile fibers over cotton fiber and carbon black, one of the primary dyeing substances utilized to dye textile fibers. Synthetic textile fibers are, therefore, witnessing soaring demand as a result of this shift in consumer preference.According to a market study published by Transparency Market Research (TMR), a leading market research and intelligence firm, the global carbon black market for textile fibers stood at US$597.2 mn in 2012. Analysts at TMR predict the market to rise at a CAGR of 7.10% during the period from 2013 to 2019 and reach US$964.4 mn by 2019.
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Polyester to Remain Leading Market Segment Based on Products
The global carbon black market for textile fibers is analyzed on the basis of types of products and end users. Polyester, acrylic, and nylon are the key segment of this market based on products. The carbon black market for polyester fibers dominates the global carbon black market with a majority share. Owing to the wide usage of polyester, this market segment is likely to maintain its dominance in the coming years as well.
The markets for apparel, home textiles, automotive, protective clothing, and agriculture are the key end users of carbon black. The apparel market has emerged as the biggest consumer of carbon black for textile fibers, accounting for more than half of this market. While this market segment is likely to continue to lead, the demand from the agriculture textile and automotive textile industries is projected to witness immense growth over the next few years.
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Asia Pacific to Maintain Dominance
North America, Asia Pacific, Europe, and the Rest of the World are the main regional markets for carbon used in textile fibers. Asia Pacific at present is dominating the global market for carbon black used in textile fibers. The high growth rate of the GDP in developing Asian countries such as India and China is driving the textile industry in this region, thereby fueling the demand for carbon black used in textile fibers.
In addition, the rising disposable income of consumers in this region also triggers the demand for apparel, which, in turn, is boosting the demand for textile and subsequently, carbon black in Asia Pacific. The regional market is likely to retain its position in the coming years.
The Europe carbon black market for textile fiber has occupied the second position among the regional markets and the North America and the Rest of the world are also witnessing robust demand for carbon at present. The soaring demand for synthetic fibers from the Middle East and the Middle East is projected to drive the demand for carbon black utilized in textile fibers in the Rest of the World. Analysts expect the Rest of the World market to report the fastest growth over the next few years.
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Global Carbon Market for Textile Fibers: Key Players
Tokai Carbon Co. Ltd., Continental Carbon, Imerys Graphite & Carbon, Anyang HengXu Specialty, Sid Richardson Carbon & Energy Co., Birla Carbon, Phillips Carbon Black Ltd., Mitsubishi Chemical Corp., Cabot Corp., and Orion Engineered Carbons are the major players in the global carbon black market for textile fibers.
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