According to latest research by Future Market Insights, Carbon Black Content Tester market is set to witness steady growth between 3% and 4% during 2021-2031. Primarily the market is driven by plastic industry, where this equipment is used to test the efficiency of polyethylene materials.
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What is Driving Demand for Carbon Black Content Tester?
Evolving end-user demand for to ascertain the quality and strength of plastics components continues to drive demand for the market. Plastic Sector continue to be a lucrative avenue for Carbon Black Content Tester manufacturers.
The testing machine is widely used in PET & Preform, and plastic products manufacturing industries to determine the quality and strength of plastics, therefor this sector is crucial for Carbon Black Content Tester market demand generation.
The growing rubber industry especially synthetic rubber and related elastomeric grades is also a strong factor in fortifying the market growth. The product is the most widely used cost-effective reinforcing filler used in elastic compounds, especially tires. This increased demand for carbon black is anticipated to create lucrative growth for the carbon black content tester market.
However, issues related with the recyclability of black plastic is anticipated to have negative impact on the market growth.
Plastic Industry to boost Carbon Black Content Tester Sales
Plastic Industry have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on its related markets albeit to a moderate interest. The steady demand from consumer goods production and sales will bail out the recessionary effect created due to the pandemic.
This test equipment is used in plastic industry for testing the amount of carbon black in the component or say plastic materials and with increasing strict regulation from governments for better quality products, the market is anticipated gain momentum.
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US and Canada Demand Scenario
North America market is dominated by the U.S., both in terms of utilization as well as generation. The demand for plastics and tires in North America has increased. In addition, consistent recovery of ongoing plastic and rubber sector will assist the carbon black content tester market in future. Plastics manufactured from carbon black are lightweight and in this way offer reduce carbon emission and fuel utilization.
This region is one of the most attractive market for investment owing to high demand for carbon black.
For instance, in February 2019, Cancarb Ltd., a key manufacturer of carbon black in the Canadian region, announced investing USD 40.1 million to expand its thermal carbon black production capacity by adding a sixth production unit at its facility in Medicine Hat. As the carbon black and carbon black content tester market is set to grow synchronously, therefore this investments will prove to be very optimistic of the market.
Asia Pacific Demand Outlook for Carbon Black Content Tester
Asia-Pacific dominated the market and is anticipated to grow with an attractive growth rate. Demand for the product has seen a noteworthy increment from this region, including China, India, and Japan. Measures embraced by governments, especially in India, such as import duties to boost domestic production is expected to create growth opportunities.
The adoption of carbon black by the tire segment within the automobile industry has gone up due to a rise in domestic tire production after the imposition of anti-dumping duty on tire imports from China by Indian Government. This accelerated carbon black content tester growth in the region.
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Who are the Key Manufacturers and Suppliers of Carbon Black Content Tester?
Some of the leading manufacturers and suppliers of Carbon Black Content Tester include
Many leading manufacturers and suppliers are directly contacted by end users for the procurement. Leading players have their own authorized suppliers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments of Carbon Black Content Tester Market
