Pune, India, Jan. 10, 2022 (GLOBE NEWSWIRE) -- The global specialty carbon black market is expected to value at USD 2.34 billion in 2021 and is expected to grow at a CAGR of 9.0% during the forecast period. Increased product demand as reinforcing agents in hoses, belts, tyres, and moulding plastic components is likely to boost the market. One of the most common uses for speciality carbon black compounds is conductive polymers, which have better conducting characteristics than rubbers and polymers. It also lowers electrical resistance by forming a conductive network with the polymer and rubber. Over the last decade, economies such as China, Mexico, Brazil, and India have experienced remarkable development in terms of industrial output and GDP. This has resulted in increased demand for battery electrodes as a result of increased discretionary spending.
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One of the cleanest grades of carbon black, with the finest particle side, is specialty carbon black. It's also a non-rubber carbon black that's employed in a variety of sectors. Plastics, tyres, mechanical rubber products, toners, and printing inks are just a few of the applications for carbon black. Not only that, but it can absorb UV radiation and convert it to heat as well. As a result, it has a wide range of uses and is also used to insulate cables and wires. It is also commonly utilised to make a variety of rubber colours and goods. In a nutshell, it's a low-cost rubber strengthening compound used in tyres.
Specialty carbon black is also a versatile component that may be employed in a wide range of non-rubber applications. Carbon black selection is entirely dependant on the product's requirements. Molding, film pipe, fibre, and cable are only a few of the important plastic items that use it. Plastics are used in packaging, paints and coatings, building, electrical and electronics, and automotive, to name a few significant end-use industries.
COVID 19 Impact on the Global Specialty Carbon Black Market
COVID-19 outbreak caused a demand-supply imbalance, reducing product demand. On the other hand, consumer preference for fuel-efficient and lightweight vehicles is projected to boost demand for specialty carbon black. Providing conductivity and antistatic properties to plastics ranging from highly conductive to insulating materials is expected to enhance the market over the projected period.
Global Specialty Carbon Black Market, By Grade
Based on the grade, the market is segmented into conductive grade, food grade, fiber grade, others. Among these, conductive grade segment is witnessing the fastest market growth. Conductive carbon blacks are used in printing inks, paints and varnishes, and conductive polymers, to name a few. Manufacturing sector expansion owing to rising population and increased demand for polymers is likely to boost segment growth during the forecast period. Because of their superior characteristics, increased demand for lithium-ion batteries is likely to drive category growth even faster.
Global Specialty Carbon Black Market, By Application
Based on the application, the global specialty carbon black market is segmented into plastics, masterbatch, printing inks, paints & coatings, adhesives & sealants, batteries, others. Among these plastics segment is witnessing fastest growth. It's a popular pigment as well as a reinforcing phase in automobile tires. The carbon black in the tire helps to transfer heat away from the tread and belt region.
Global Specialty Carbon Black Market, By End Use Industry
Based on end use industry, the global specialty carbon black market is segmented into Automotive, Electrical & Electronics, Packaging, Building & Construction, Textile, Others. Among these, automotive segment is witnessing fastest market growth owing to the rapid industrialization, economic growth as well as population growth.
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Global Specialty Carbon Black Market, by Region
Based on the region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, South America. Among these, Asia Pacific is witnessing fastest growth because of economic expansion and rising disposable income, end-use sectors such as construction and building, personal care, food and beverage, healthcare, automobile, and others have expanded. As a result, these forces are driving the Asia Pacific region's development.
Some Significant Market Developments Considered in the Report:
- April 2021: Cabot Corporation (US) completed a substantial air pollution control project at its Franklin manufacturing facility.
- March 2017: Birla Carbons bought Columbian Chemicals (U.S.), a carbon black producer situated in the United States, allowing it to become the world's largest producer.
Some Major Findings of the Global Specialty Carbon Black Market Include:
- Profiles of major market players operating in the global specialty carbon black market include Cabot Corp. (U.S.), Birla Carbon (India), Tokai Carbon Co. Ltd. (Japan), Continental Carbon Company (U.S.), Omsk Carbon Group (Europe)
- Impact of COVID-19 on the global specialty carbon black market.
Browse key industry insights from the report, “Specialty Carbon Black Market, By Application Type (Plastic, Ink, Coating, and Others), By End Use Industry Type (Transportation, Industrial, Building & Construction, Printing & Packaging, and Others), By Function Type (Color, UV Protection, Conductive, and Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2021-2030)” in-depth analysis along with the table of contents (ToC).
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