Albany, NY -- (SBWIRE) -- 10/23/2018 -- Carbon black is a black-colored colloidal particle produced by the thermal decomposition or incomplete combustion of hydrocarbon-rich sources such as natural gas, petroleum oil and coal gas. Furnace black process, channel process and acetylene process are among the major processes used in the production of carbon black. Carbon black is primarily used as a dyeing agent in synthetic textile fibers such as polyester, nylon and acrylic. The revenue generated by carbon black market for textile fibers was USD 597.2 million in 2012 and is expected to reach USD 964.4 million by 2019, growing at a CAGR of 7.1% from 2013 to 2019.
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The carbon black market for textile fibers is divided into four product segments: polyester, nylon, acrylic and others (including olefins). Polyester fiber dominates the global demand in the carbon black market for textile fibers. The carbon black market for polyester textile fibers accounted for over 55% share of total revenue generated in 2012. Based on end-use, the carbon black market has been segregated into three segments: apparels, home textiles and others including automotive, agriculture and protective clothing. The apparel segment is the largest end-user in the carbon black market for textile fibers and accounted for over 53% share of total revenue generated in 2012. Besides apparel, home textiles, which comprise carpets, bedding and sheeting applications, was the major end-user of carbon black at the end of 2012.
Textile fiber is a niche application for carbon black and exhibits a low market share of all the applications for the material. Nearly all carbon blacks produced globally are employed in other applications, primarily in tires and rubber. Carbon black is used as a dyeing agent in textile fibers in order to impart color to the fibers. High cost, low tensile strength and increasing demand for arable land for other profitable crops has led to decline in demand for cotton. This trend is anticipated to continue in the near future. The decrease in cotton consumption has subsequently led to an increase in demand for synthetic fibers. This is one of the major growth drivers for the carbon black market for textile fibers. Polyester is the most widely used synthetic fiber in the textiles industry and the demand for polyester is expected to grow at a better pace in the near future. Moreover, polyester is also among the dominant product segments of carbon black. Therefore, increasing demand for polyester is likely to boost demand for carbon black for textile fibers during the forecast period.
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Major raw materials used in the production of carbon black are derivatives of crude oil. Therefore, the market is characterized by volatility in prices of raw materials. This has led to uncertain profitability in the industry. The volatility in raw material prices is a major restraint for the carbon black market for textile fibers. Furthermore, several hazardous gases, including carbon monoxide, are released during the production of carbon black. Carbon black being predominantly a derivative of carbon, exhibits a high carbon footprint. Environmental and health hazards associated with carbon black have led to an increase in the number of stringent government regulations to control the production of carbon black. Thus, environmental and health hazards associated with carbon black are some of the major restraints for the carbon black market for textile fibers. There has been an increase in the number of research and development activities to produce carbon black from bio-based sources. Bio-based carbon black is anticipated to offer high-growth opportunities for the carbon black market for textile fibers in the coming years.