Carbon Black Market For Textile Fibers to Observe Tremendous Rise with 7.1% during Forecast period 2021-2028
Carbon Black Market |
Growing demand for synthetic textile fibres is a
major factor driving carbon black market growth. This is due to the decline in
demand for cotton as a result of its high cost and the growing need for
harvested land for other crops. Black carbon is commonly used in synthetic
textiles, which are then used in a variety of applications. As a result, the
high demand for synthetic textiles is expected to boost carbon black market
growth.
Carbon black is in high demand due to the high
demand for polyester fibre. Polyester is a low-cost fibre used in the
production of synthetic textiles. This is one of the major factors driving the
growth of the carbon black market. Furthermore, polyester is a low-cost product
with a wide range of applications, which increases its demand among end-users.
As a result, rising demand for polyester fibre is propelling the carbon black
market forward.
The
global CarbonBlack Market for Textile Fibers is
estimated to be valued at US$ 1,093.1 million in 2021 and is expected to
exhibit a CAGR of 7.1 % over the forecast period (2021-2028).
In
the near future, the development of bio-based and recycled carbon black is
expected to provide potential market opportunities. Carbon black market growth
is expected to be aided by an increase in significant research and development
for developing bio-based carbon black products as environmental concerns grow.
Bio-based black carbon reduces reliance on crude oil while also lowering
environmental risks. This factor motivates manufacturers to create bio-based
carbon black.
The
growing demand for protective clothing for worker safety across various
industries is expected to serve potential market opportunities. Growing demand
for textile from the automotive industry for the production of seatbelts, seat
covers, and interior accessories is expected to drive market growth. As a
result, increased automobile production is expected to propel market growth
over the forecast period.
Carbon Black Market For Textile Fibers |
Growing
demand for home textile products, which drives acrylic fibre consumption, is
propelling the market forward. One of the emerging trends is an increase in
consumer spending on home decor items such as sofas, furniture, curtains,
carpets, and rugs. This is due to consumers' increasing purchasing power and
higher standard of living. As a result, rising demand for home textiles is
propelling the carbon black market forward.
Carbon
black production produces a variety of harmful gases, including carbon
monoxide, which poses a threat to the environment. Thus, environmental concerns
associated with carbon black production are expected to stymie carbon black
market growth. Toxicity caused by carbon black causes lung disease. Carbon
black inhalation causes lung irritation and coughing. Furthermore, it causes
eye and nose irritation. The negative side effects of carbon black are impeding
market growth.
Major Companies operating in the global Carbon Black Market for Textile Fibers include, Orion Engineered Carbons, Cabot Corporation, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Birla Carbon, Sid Richardson Carbon & Energy Co., Anyang HengXu Specialty Carbon Black Co., Ltd., and Imerys Graphite & Carbon
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