Specialty Carbon Black Market Expects to See Significant Growth During 2023–2030
Research Reports
Aug 16, 2023
Specialty Carbon Black Market Overview
The Specialty Carbon Black market industry is projected to grow from USD 2.87 Billion in 2023 to USD 5.40 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.0% during the forecast period (2023–2030).
The expansion and innovation in the printing industry are assessed to bolster the progress of the specialty carbon black market in the impending period. The elevated use of batteries in next-generation vehicles is predicted to spur the specialty carbon black market.
Segmental Analysis
The segmental study of the specialty carbon black market is carried out on the basis of grade, application, endues, and others. The grade segment of the specialty carbon black market has been segmented into food-grade and conductive grade. The end-user segment of the specialty carbon black market has been segmented into electrical & electronics, automotive, building & construction, and packaging. The application segment of the specialty carbon black market has been segmented into adhesives & sealants, plastics, printing inks, masterbatch, paints & coatings, and batteries. The region segment of the specialty carbon black market has been segmented into North America, Asia Pacific, Europe, and other regional markets.
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Regional Overview
The regional examination of the specialty carbon black market has been segmented into North America, Asia Pacific, Europe, and other regional markets. The Asia Pacific regional market governed the global specialty carbon black market with more than half the total share in 2023, which can be accredited to the resilient development of the packaging, automotive, and building & construction industries throughout China and India. The North American regional market, trailed by the European region, reported for the second principal share. The strict environmental guidelines connected to the restriction on the use of additives in plastics and food contact resources are expected to negatively impact the specialty carbon black market development in these regions. The rising demand for conductive ink from the electronics business is expected to back the specialty carbon black market in North America and Europe. The specialty carbon black market in the Latin American and the Middle Eastern & African regions reported comparatively smaller shares in the global market. The specialty carbon black market in these regions is anticipated to observe healthy progress driven by the developing automotive and construction businesses in the region.
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Competitive Analysis
The swift changes in consumer preferences are predicted to motivate global market advancement. The favorable influence of global administration is estimated to promote global trade in the market. The discovery of new markets is likely further to enhance the chances for success in the forthcoming period. The upgrades in delivery strategies are anticipated to further boost the market progress in the near future. The foray of digitization-based strategies into operation management and forecasting is predicted to transform the global market in the forecast duration. The investment by market players towards developing the future potential for progress is likely to open up market potential. The activation of different avenues for development is estimated to kickstart market development. The competition in the market is estimated to spur innovation in the market leading to the introduction of new products in the market. The establishment of strong research and development protocols is estimated to benefit the market in multiple ways in the future. The focus on sustainability is also assessed to influence the long-term expansion of the market significantly.
The formidable companies in the specialty carbon black market are Birla Carbon (Thailand), Orion Engineered Carbons SA (Luxembourg), Continental Carbon Company (US), Mitsubishi Chemical Corporation (Japan), Phillips Carbon Black Limited (India), Cabot Corporation (US), DyStar Singapore Pte Ltd (Singapore), Himadri Specialty Chemical Ltd (India), Imerys Graphite & Carbon (Switzerland), and Omsk Carbon Group (China).
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Industry Updates:
May 2021 Orion Engineered Carbons S.A., a principal global trader of specialty and high-performance carbon black, declared it would raise pricing for its specialty carbon black foods. The price upsurge is essential due to the constant higher call for its specialty products and suddenly increasing global raw material and supply chain expenses. Contrary to this background, Orion Engineered Carbons will raise specialty carbon black charges by up to 20 % worldwide, effective July 1, 2021, or as soon as different contracts permit, for all consignments on or after that date.
Feb 2021 Phillips Carbon Black recently notified exchanges that the company has custom-made two specialty black lines at Palej, in Gujarat. The two specialty black lines are for the manufacture of a wide variety of specialty black products totaling about 32,000 MTP A to service the rising needs of its clients.
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