Overview and Scope
Specialty carbon black refers to a high-end refined chemical that is manufactured by the burning of hydrocarbons in a limited air supply. It is a refined form of carbon that has a capacity to absorb UV light and convert it to heat, making plastics more UV resistant and is used as UV stabilizing agents, pigments, and conductive agents.
Sizing and Forecast
The specialty carbon black market size has grown rapidly in recent years. It will grow from $3 billion in 2023 to $3.37 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to growing demand for specialty carbon black in the tire industry, increased demand for plastics and rubber products, growing demand for printing inks and coatings, increasing demand for high-performance materials in the automotive industry, rising awareness of the reinforcing properties of carbon black in various materials.
The specialty carbon black market size is expected to see rapid growth in the next few years. It will grow to $5.49 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to growing demand for specialty carbon black in the electronics industry, increasing demand for specialty carbon black in the construction industry, growing demand for specialty carbon black in the packaging industry, expansion of the electronics industry with applications in conductive polymers, rising demand for high-performance and sustainable materials in various applications.. Major trends in the forecast period include exploration of alternative raw materials for specialty carbon black production, development of customized and application-specific specialty carbon black grades, integration of nanotechnology for enhanced properties, emphasis on eco-friendly and sustainable, collaboration between specialty carbon black producers and end-user industries for innovation.
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Segmentation & Regional Insights
The specialty carbon black market covered in this report is segmented –
1) By Form: Granules, Powder
2) By Grade: Conductive Carbon Black, Fiber Carbon Black, Food Contact Carbon Black
3) By Process Type: Furnace Black, Gas Black, Lamp Black, Thermal Black
4) By Function: Color, UV Protection, Conductive, Other Functions
5) By Application: Plastics, Battery Electrodes, Paints and Coatings, Inks and Toners, Rubber, Other Applications
Asia-Pacific was the largest region in the specialty carbon black market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty carbon black market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for plastics and coatings is expected to propel the growth of the specialty carbon black market going forward. Plastic refers to a group of materials that are either natural or synthetic, and coating refers to a layer of a particular substance that covers a surface. Specialty carbon black is used as an insulating agent in a variety of rubber, plastic, ink, and coating applications, this helps to strengthen the tires of vehicles. For instance, in June 2021, according to European Coatings, a European magazine, there was a strong increase in global demand for paints and coatings. The demand increased from 14% in the first quarter of the year 2021 to 22% in the second quarter. The strongest surge in demand was observed in India and China. Therefore, the increasing demand for plastics and coatings is driving the specialty carbon black market.
Key Industry Players
Major companies operating in the specialty carbon black market report are Cabot Corporation, Birla Carbon, Tokai Carbon Co Ltd., Continental Carbon Company, Omsk Carbon Group, Orion Engineered Carbons, Automator International Ltd., Kuster Holding GmbH, ISITAN, Phillips Carbon Black Limited, Denka Company Limited, Mitsubishi Chemical Corporation, Sid Richardson Carbon and Energy Co, Imerys Graphite & Carbon, Asbury Carbons Inc., Beilum Carbon Chemical Limited, Hebei Daguangming Juwuba Carbon Black Co Ltd., Black Bear Carbon B. V., Nippon Pelletized Carbon Co Ltd., Jinneng Science & Technology Co Ltd., Longxing Chemical Stock Co Ltd., Delta-Energy Group LLC, Shandong Emperor-Taishan Carbon Co Ltd., Shanxi Huachang Chemical Co Ltd., OCI Company Ltd., Rheinmetall Group, Aditya Birla Group, Ampacet Corporation, Himadri Speciality Chemical Ltd., Pyrolex AG
The specialty carbon black market report table of contents includes:
1. Executive Summary
2. Specialty Carbon Black Market Characteristics
3. Specialty Carbon Black Market Trends And Strategies
4.Specialty Carbon Black Impact Of COVID-19
5. Specialty Carbon Black Market Size And Growth
6.Specialty Carbon Black Segmentation
7.Specialty Carbon Black Regional And Country Analysis
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27. Specialty Carbon Black Competitive Landscape And Company Profiles
28. Specialty Carbon Black Key Mergers And Acquisitions
29.Specialty Carbon Black Future Outlook and Potential Analysis
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