Specialty Carbon Black Industry Overview
The global specialty carbon black market size is estimated to reach USD 5.40 billion by 2030, expanding at a compound annual growth rate (CAGR) of 10.0%, according to a new report by Grand View Research, Inc. This growth can be attributed to the increasing demand for the product as reinforcing agents, specifically in tires, among other applications. Additionally, the growing use of the product in agriculture mulch film, refuse sacks, stretch wrap, and industrial bags are estimated to contribute to the market growth.
Majorly, carbon black is in the form of black colloidal particles produced via the acetylene black process, lamp black process, and furnace black process, among others. The raw material used for these processes differs between petroleum, coal oil, natural gas, and acetylene gas. Furthermore, food contact grade is expected to witness prolific growth over the next eight years, owing to increasing convenience food consumption in emerging economies of the Asia Pacific and Latin America, such as India, Vietnam, Thailand, Malaysia, Brazil, and Argentina. Packaging is expected to emerge as the leading application for the food-grade segment.
Specialty Carbon Black Market Segmentation
Grand View Research has segmented the market report on the grade, and region:
Based on the Grade Insights, the market is segmented into Conductive Carbon Black, Fiber Carbon Black, Food Contact Carbon Black, and Other Carbon Black
- Conductive grades are majorly utilized in manufacturing conductive polymers, paints & coatings, and printing inks. Growth of manufacturing sector spending, owing to population expansion coupled with growing demand for polymers is anticipated to drive market growth during the forecast period.
- Furthermore, conductive grade accounted for 27.60% of the total market share in 2021. Increasing demand for lithium-ion batteries is anticipated to further boost market growth during the forecast period. It is expected to gain market share and accounts for 29.25% by 2030.
- Food contact was the largest product segment in 2021, accounting for around 30% of the revenue share. The growing consumption of convenience foods in developing nations is the major driving factor for the growth of the food packaging industry.
- Mounting consumption of packaged food and beverages due to changing consumer lifestyles coupled with rising per capita disposable income is anticipated to drive market growth during the forecast period.
- Increasing demand from other end-use industries, such as consumer goods, architecture, and automotive, is anticipated to drive conductive grade demand. The growing manufacturing sector is anticipated to drive conductive grade consumption during the forecast period.
Specialty Carbon Black Regional Outlook
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Market participants are concentrating their efforts on the development of new carbon black with long-term sustainability. Regulatory clearances, product portfolio, pricing, and manufacturing technology are all competitive elements that have a significant impact on market growth.
The specialty black market is concentrated, with few companies accounting for a majority share in the market. Huge capital expansions are taking place in the market, with companies vying for future market share. The initiatives undertaken by companies such as Continental Carbon and Birla Carbon are an indication that the market is expected to grow at a faster rate.
Some prominent players in the global Specialty Carbon Black market include:
- Omsk Carbon Group
- Tokai Carbon Co., Ltd.
- Atlas Organics Private Limited
- Continental Carbon Company
- Birla Carbon
- Cabot Corporation
- International China Oak Investment Holdings Co., Ltd.
- Himadri Speciality Chemical Ltd
- Philips Carbon Black Limited
- Orion Engineered Carbons GmbH
- Ralson
Order a free sample PDF of the Specialty Carbon Black Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment