Wilmington, Delaware, United States, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The revenue of specialty carbon black market is prognosticated to reach a value of US$ 3.2 Bn by the end of 2031, states a review by Transparency Market Research (TMR). Furthermore, the TMR study, which covers recent developments in the specialty carbon black market, notes that the market is estimated to expand at a CAGR of 4.5% during the forecast period, from 2022 to 2031.
Specialty carbon black is being utilized in tires as fillers. Moreover, the product is also increasingly adopted as a reinforcement in varied other rubber goods. Carbon black filler rubber boosts volume, strengthens vulcanization, and advances the physical properties of rubber. Industrial rubber carbon black is in high demand owing to its varied qualities including the ability to absorb UV light and transform it into heat and high resistance to abrasion and harsh weather. Hence, players in the specialty carbon black market are anticipated to gain lucrative prospects from the rubber industry during the forecast period.
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Asia Pacific is expected to emerge as a fastest growing market for specialty carbon black in the near future. Several key factors boosting the Asia Pacific specialty carbon black market growth include a surge in demand for specialty carbon black among regional end-use industries, rise in large-volume exports by several regional nations, and low cost of production in the region.
Specialty Carbon Black Market: Key Findings
- Conductive carbon black is being utilized in the cathode of latest lithium-ion batteries in order to establish a 3D conductive network. The key purpose for using conductive carbon black is to ensure the electrically coupling of non-conductive active materials including lithium-nickel-manganese-cobalt oxide to one another as well as the current collector, notes a TMR study on the specialty carbon black market.
- The demand for specialty carbon black is being in the recent years owing to their ability to provide advanced battery capacity and rate capability, which helps in improving the battery lifecycle. Moreover, this type of carbon black is gaining traction owing to their non-toxic nature, cost-effectiveness, and low weight, state analysts of a TMR report on the specialty carbon black market. In addition, they provide high chemical inertness. Owing to these product advantages, the global specialty carbon black market is prognosticated to gain sizable sales prospects in the near future.
- In the conventional lithium-ion battery formulations, where the conductive additive, binder, and active materials are blended into a viscous slurry, the carbon black must be well distributed in the slurry. Generally, the high-structure carbon black shows easier dispersion abilities. Hence, they can demonstrate a significant effect on the viscosity as well as potential solid loading of a slurry. Generally, less solvent is being utilized by slurries with higher solid loading. This can help in advancing the efficiency of battery production at significant pace. Hence, a rise in the product adoption in the electronics industry is propelling the specialty carbon black market.
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Specialty Carbon Black Market: Growth Boosters
- Rise in the product use in the electronics industry is anticipated to fuel the future market demand for specialty carbon black
- Increase in the product application in the rubber industry is expected to drive the sales growth in the market during the forecast period
Specialty Carbon Black Market: Key Players
Some of the key players profiled in the report are:
- Imerys S.A.
- Cabot Corporation
- Denka Company Limited
- Mitsubishi Chemical Corporation
- Tokai Carbon Co., Ltd.
- Phillips Carbon Black Limited
- Birla Carbon
- Lion Specialty Chemicals Co., Ltd.
- Himadri Speciality Chemical Ltd.
- Ampacet Corporation
- Orion Engineered Carbons
- Continental Carbon
- Pyrolex AG
- Asbury Carbons
- Black Bear Carbon B.V.
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Specialty Carbon Black Market Segmentation
- Form
- Granule
- Powder
- Application
- Plastics
- Wires & Cables
- Conductive & Electrostatic Dissipative (ESD)
- Other Conductive Applications
- Battery Electrodes
- Lithium-ion Batteries
- Others
- Paints & Coatings
- Inks & Toners
- Others (Rubber, etc.)
- Plastics
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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