Carbon Black for Textile Fibers Market to 2020 - Industry Trends, Market Size, Segments, Growth Prospects: Grand View Research, Inc

The global carbon black for textile fibers market is expected to reach USD 253.1 million by 2020, according to a new study by Grand View Research, Inc. Declining cotton production on account of rising importance for other food crops and increasing synthetic textiles demand is expected to drive carbon black demand in textile fibers. Growing adoption of carbon black as a coloring agent in textile manufacturing is also expected have a positive impact on the market growth. Carbon black improves color spread, exhibits high tensile strength and its low environmental impact is further expected to fuel its demand in military and sports textile applications.
Polyester emerged as the leading product segment for carbon black textile fibers market and accounted for over 55% of the total market volume in 2013. Polyester is also expected to be one of the fastest growing product segments over the next six year. The segment is expected to grow at an estimated CAGR of 6.2% from 2014 to 2020. Growth of textile industry particularly in Asia Pacific and Latin America is expected to remain a key driving factor for this segment.
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Further key findings from the study suggest:
• Global carbon black for textile fibers market demand was 90.1 kilo tons in 2013 and is expected to reach 135.9 kilo tons by 2020, growing at a CAGR of 6.1% from 2014 to 2020.
• Apparel emerged as the largest end-use industry for carbon black based textile fibers and accounted for 54.2% of the total market volume in 2013. Increasing disposable income in emerging economies of China, India, Brazil and Mexico have been major factor driving apparel demand. Apparel is also expected to witness the highest growth rate of 6.2% from 2014 to 2020.
• Asia Pacific emerged as the largest regional market and accounted for 57.6% of total market volume in 2013....