Carbon black is a chemical formed as a result of the incomplete combustion of petroleum products such as coal tar, natural gas, and petroleum oil. Carbon black is widely used as a coloring ingredient in the textile industry. As a pigment, it is a good coloring agent and is commonly used for dyeing textiles.
The worldwide carbon black market for textile fibers is predicted to be worth US$ 1,093.1 million in 2021, with a CAGR of 7.1 percent during the forecast period (2021-2028).
Growing demand for synthetic textile fibers is a major element driving carbon black market growth. This is due to a drop in demand for cotton due to high prices and an increasing requirement for harvested land for other crops. Black carbon is commonly utilized in synthetic fabrics, which are then employed in a variety of applications. As a result, the increased 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 fiber. Polyester is a low-cost material used in the production of synthetic fabrics. This is one of the key causes driving the expansion of the carbon black market. Furthermore, polyester is a low-cost commodity with a wide range of applications, which increases its demand among end-users. As a result, rising demand for polyester fiber is moving the carbon black market forward.