Albany, NY, Oct. 29, 2014 (GLOBE NEWSWIRE) -- Massive demand for polyester fibers will prove favorable for the carbon black market for textile fibers. The latter is expected to chart a CAGR of 7.1% to grow from US$ 597.2 million in 2012 to US$ 964.4 million in 2019. These are the findings of a research study published by U.S.-based market intelligence firm Transparency Market Research (TMR). The report is titled 'Carbon Black Market for Textile Fibers (Polyester, Nylon, Acrylic and Others) for Apparels, Home Textiles and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.'
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The demand for cotton has been on a downswing because of its high costs, and the comparatively low strength of its fibers. The supply of cotton has seen a substantial dip, as well. This has occurred because land under cotton cultivation has been shrinking. Arable land where cotton was previously cultivated is now being used for growing other more profitable crops. All of these factors bode well for the synthetic fibers market, which in turn is has been a positive development for the carbon black market. Carbon black is widely used in the synthetic fibers industry.
The market research report elaborates further on other driving factors for the carbon black market. For instance, crude oil derivatives are the key raw materials that go into the production of carbon black, because these derivatives are rich in carbon.
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Despite these positive factors, the market does face certain challenges in the form of environmental hazards associated with carbon black. Moreover, the raw materials used for carbon black production suffer from price volatility. The report also offers certain recommendations and alternatives to mitigating the impact of these deterrents.
In addition to growth drivers and restrainers, the TMR report assesses opportunities that prevail in the carbon black market for textile fibers. TMR's analysts observe that the greatest opportunity lies in conducting R&D to launch efficient carbon black production techniques. The analysts recommend making investments in technologies geared towards producing carbon black from bio-based materials.
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The market research report segments the carbon black market into four broad sub-markets: nylon, acrylic, polyester, and others.
The largest segment within the carbon black market for textile fibers, as of 2012, was polyester. This segment accounted for a 55% share within the overall market.
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The report also studies the global carbon black market for textile fibers from the standpoint of end-users. The three segments studied on this front are: apparel, home textiles, and others. The largest end-use market for the carbon black market for textile fibers is apparel, which constituted 54% of this market in 2012. The home textiles segment is yet another major component of this market. However, these will not be the fastest-growing segments over the forecast period of this report. According to TMR analysts, it is the Others segment, which comprises automotive and agricultural textiles, will register the fastest growth among all end-use segments.
Geographically, Asia Pacific led the carbon black for textile fibers in terms of demand, occupying 58.2% of the market in 2012. Asia Pacific will continue to retain this position through 2020.
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