Pune, Feb. 22, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Specialty Carbon Black Market Size, Share & Trends Analysis Report By Application (Plastics, Battery Electrodes, Paints And Coatings, Inks And Toners And Others), Form (Granules And Powder), Grade (Fiber Carbon Black, Conductive Carbon Black, Food Carbon Black And Others) And Function (Color, UV Protection, Conductive And Others)- Market Outlook And Industry Analysis 2031"
The global specialty carbon black market is estimated to reach over USD 6.23 billion by 2031, exhibiting a CAGR of 6.11% during the forecast period.
The refined form of carbon derived from burned hydrocarbons is specialty carbon black. Exceptional qualities like thermal stability, high opacity, resistance to acids, alkalis, and black organic dyes are the primary factors driving the growth of the specialty carbon black market. The product's expanding use in agricultural mulch film, trash sacks, stretch wraps, and industrial bags will also support market expansion.
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The global market for specialty carbon black is driven by increased demand for the material because of its outstanding abrasion resistance, high readability, and high stiffness. Specialized carbon black is a conductivity and color compound used in industrial and automobile coatings. A significant amount of harmful GHGs is released while producing carbon black, which harms the environment and human health.
Companies are investing in R&D activities to develop their manufacturing methods in order to increase the quality of their products and reduce greenhouse emissions to within the permissible limit. Furthermore, as the complete fuel combustion used to make carbon black harms both human health and the environment, it is subject to strict regulations from these organizations.
List of Prominent Players in the Specialty Carbon Black Market:
• Orion Engineered Carbons
• Cabot Corporation
• Birla Carbon
• PCBL Limited
• Himadri Specialty Chemical Ltd.
• Continental Carbon
• Imerys S.A.
• Mitsubishi Chemical Holdings Corporation
• Tokai Carbon Co., Ltd.
• OMSK Carbon Group
• Lion Specialty Chemicals Co., Ltd.
• Denka Company Limited
• Geotech International B.V.
• Klean Industries Inc.
• Black Bear Carbon B.V.
• Beilum Carbon Chemical Limited
• Zaozhuang Xinyuan Chemical Industry Co. Ltd.
• Hangzhou Dimacolor Co., Ltd.
• Henan Xinxu Chemical Co., Ltd.
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Market Dynamics:
Drivers-
Specialty carbon black has a low ash concentration (less than 1%), a critical characteristic. Generating specialist carbon black, particularly for storage batteries and rubber carbon black in thermoplastics, is the main emphasis of several businesses. Major firms are spending money on R&D initiatives, business partnerships, and production capacity development to improve their market position. Due to the material's exceptional abrasion resistance, high readability, and high rigidity, the desire for it is rising, driving the global market for specialized carbon black. A resistivity and color substance called specialized carbon black is utilized in industrial and automotive coatings.
Challenges:
The demand for carbon black is declining as more dangerous gases, including carbon monoxide, carbon dioxide, and sulfur dioxide, are released. Inhaling these gases can result in various harmful health problems, including nausea, headaches, dizziness, and tightness in the chest. Therefore, governments in a wide range of nations have set several strict laws and restrictions. The International Agency expressed concerns about the product's potential health risks for people for Research on Cancer. IARC has classified carbon black as a Group 2B material, which is highly carcinogenic and potentially harmful to human health. Reduced product acceptance is being brought on by the restraints above, which are also expected to impede market expansion.
Regional Trends:
The North America specialty carbon black market is expected to register a significant market share in revenue and is projected to grow at a high CAGR soon due to the expanding polymer and packaged food industries. Demand for coatings and adhesives manufactured plastics, and cables and cables are projected to be sparked by the U.S. economy's recovery and rising automobile and commercial building activity. Besides, Asia Pacific had a substantial share of the market. Increased plastic usage in vital end-use sectors like construction, automotive, carbon fibers, and packaging is responsible for this region's rise. Increased polymer manufacturing is predicted to continue to be a significant contributor to the regional market expansion during the forecast period in China, India, and Southeast Asian nations.
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Recent Developments:
- In August 2022.-To accelerate enterprise visibility through an integrated approach to manage industrial A.I. applications, further reduce complexity, and lower total cost of ownership, Birla Carbon, a top sustainable manufacturer and supplier of black carbon additives, expanded its deployment of Aspen Technology's AIoT solutions across nine sites globally the industry leader in industrial software is Aspen Technology.
- In May 2022, Birla Carbon announced plans to increase global capacity by 200 kilotons per annum (ktpa) to meet the growing demand for carbon black. The new facility is anticipated to increase specialized carbon black and rubber carbon black capacity in important markets.
- In May 2022, Orion Engineered Carbons announced that their gas black expansion in Germany at its facilities in Dortmund and Cologne will be finished by the beginning of 2023. The company's aim to further solidify its position in the premium specialized sector includes expanding into Germany.
Specialty Carbon Black Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value in 2022 | USD 3.72 billion |
| Revenue Forecast in 2031 | USD 6.23 billion |
| Growth Rate CAGR | CAGR of 6.11% from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million, Volume in Kiloton and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments covered | Application, Form, Grade And Function |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
| Customization scope | Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Segmentation of Specialty Carbon Black Market-
By Application
- Plastics
- Battery Electrodes
- Paints and Coatings
- Inks and Toners
- Others
By Form
- Granular
- Powder
By Grade
- Fiber Carbon Black
- Conductive Carbon Black
- Food Carbon Black
- Others
By Function
- Color
- UV Protection
- Conductive
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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