DALLAS, Oct. 31, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the specialty carbon black market looks attractive with opportunities in the printing and packaging, building & construction, transportation, and industrial sectors. The global specialty carbon black market is expected to reach an estimated $2.6 billion by 2023 with a CAGR of 7.5% from 2018 to 2023. The major drivers of growth for this market are increasing demand for plastic and coating in the building and construction, packaging, and automotive industries.
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In this market, plastic, ink, coating, and others are used for specialty carbon black manufacturing for application. Lucintel forecasts that plastic segment is expected to remain the largest application, and will witness the highest growth over the forecast period with growth in packaging, plastic pipe, film, and wire & cable.
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Asia Pacific is expected to be the largest region by value and volume and will experience the highest growth over the forecast period supported by growth in plastic, ink, and coating demand in emerging countries, such as China and India.
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Emerging trends, which have a direct impact on the dynamics of the specialty carbon black industry, include the shifting focus of carbon black suppliers from commodity to specialty grade and increasing use of specialty carbon black as pigment in lightweight automotive parts. Orion Engineered Carbons Holdings, Birla Carbon, Cabot Corporation, China Synthetic Rubber (CSR), OMSK Carbon Group, Tokai Carbon, Continental Carbon, and others are among the major suppliers of specialty carbon black.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global specialty carbon black market by application, attributes, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Specialty Carbon Black Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global specialty carbon black market by application, attributes, and region.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.