Carbon Black Market for Textile Fiber Expected to reach US$964 million by 2019 due to Rising Demand for Synthetic Fibers
According to a recent study released by Transparency Market Research (TMR), the global carbon black market for textile fibers is expected to rise at a CAGR of 7.1% between 2013 and 2019 to grow from US$597.2 million in 2012 to be worth US$964.4 million by the end of the forecast period.The research report, titled “ Carbon Black Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 ”, states that customers prefer synthetic textile fibers and polyester fibers compared to cotton, owing to the high cost and low strength of cotton. The declining production of cotton, due to decreasing availability of arable land across the globe, is also making way for expansion of the markets for synthetic and polyester fibers. This shift is expected to drive the demand for carbon black, as it is the prime dyeing substance utilized in the global synthetic textile industry. The market study reports that instability in raw material prices is the main fact...