iCrowd Newswire
03 Dec 2021, 15:33 GMT+10
The latest study done by Fact.MR, a market research and competitive intelligence provider, estimates the carbon black market to contribute significantly towards global chemical industry GVA. This is mainly attributed to the usage of the material in a wide range of applications such as printing inks, packaging, plastics, and paints and coatings.
Conventional ways of producing carbon black over the years have been polluting the environment. This can mainly be attributed to the use of traditional furnaces and partially burning of crude oil. Additionally, inability of companies to effectively curb pollution from the production of carbon black has compelled governments to draft stringent policies. For instance, in 2018 three major carbon black producers were imposed with a total fine of US$ 2.5 Mn for not being able to control air pollution coming out of their manufacturing facilities.
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Attributed to the above concerns, companies have now started to adopt sustainable practices in their business operations. For instance, Birla Carbon in May 2021, announced the launching of sustainable carbon material CONTINUA with the aim of including circularity in its business.
Similar key trends practiced by manufacturers across the carbon black industry are presented by Fact.MR, a market research and competitive intelligence provider, in its recently launched report.
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Tags: Carbon Black Market
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