Global Specialty Carbon Black Market is estimated to reach a value of USD 2.3 Billion by 2025, registering a CAGR of 5.3%.
The global specialty carbon black market is expected to witness significant growth during the forecast period. This growth is expected to be driven by the increasing demand for printing inks across various end-use industries and growing use of specialty carbon black in the manufacturing of polymers and paints and coatings. Furthermore, with the rapid technological advancements and growing electrical and electronics industry the demand for conductive-grade specialty carbon black is expected to increase significantly during the forecast period. Factors such as the expanding construction industry in both emerging and developed economies and the growing adoption of electric and hybrid vehicles are expected to create lucratiuve growth opportunities for the market participants during the forecast period. Specialty carbon black is extensivly used to impart functionalities such as UV protection and conductive characteristics to polymers. Additionally, specialty carbon black is also used in the manufacturing of printing inks owing to its excellent pigmenting property. The significantly growing demand for printing inks in the packaging industry is increading the demand for specialty carbon black.
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The global specialty carbon black market has been segmented based on grade, application, and end-use industry, and region.
Basis on grade, the global market has been segmented into conductive grade, food grade, and others. The conductive grade accounted for largest share in the global market in 2018. The segment is expected to witness robust growth during the forecast period driven by the increasing demand from the energy, electronics, and paints & coatings industry. Food grade specialty carbon black accounted for the for the second-largest share of 18.5% in 2018 and is projected to register a CAGR of 5.31% during the forecast period driven by the growing demand for packaged food products in developing economies.
Based on application, the global specialty carbon black market has been segmented into plastics, masterbatch, printing inks, paints & coatings, adhesives & sealants, batteries, and others. Among these, the plastic segment held the largest market share in 2018. Specialty carbon black is extensively used in the manufacturing of conductive plastics owing to its superior conductive functionalities. High demand for conductive plastics in a variety of applications such as automotive fuel systems, electronics, packaging, and equipment is expected to propel the growth of the plastics segment during the forecast period.
Based on end-use industry, the global specialty carbon black market has been segmented into automotive, electrical & electronics, packaging, building & construction, and others. The automotive dominated the global market and is projected to register highest growth during the forecast period. The growth of the market can be attributed to the increasing demand for specialty carbon black in paints and coatings, tinting, belts, hoses & seals, adhesives & sealants, and vibration damping rubbers. is another o4.80%. The demand for specialty carbon black is increasing in electrical & electronics applications as it helps improve conductive and electrostatic dissipative (ESD) performance in plastics.
The Global Specialty Carbon Black Market, by region, has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America
The market in Asia-Pacific held the largest share of 52.0% in 2018 due to the robust growth of the automotive, packaging, and building & construction industries. North America was the second-largest market in 2018, valued at USD 322.6 million; the market is projected to exhibit a CAGR of 4.33% driven by growing electronics industry and recovering growth of residential construction industry in the US. Europe is another prominent market for specialty carbon black and is projected to register healthy growth driven by increasing automotive production and growing construction activities.
Key Findings of the Study
- The global specialty carbon black market is projected to register a CAGR of 5.28% during the forecast period to reach USD 2,330.9 million by 2025.
- Asia-Pacific dominated the global specialty carbon black market in 2018 with more than 50% market share.
- Conductive grade specialty carbon black segment accounted for the largest market share in 2018 and is projected to register fastest growth
- By end-use industry, the automotive segment, followed by the electrical & electronics segment, dominated the global specialty carbon black market.
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Market Research Future (MRFR) identified Orion Engineered Carbons S.A. (Luxembourg), Cabot Corporation (US), Himadri Speciality Chemical Ltd (India), Birla Carbon (Thailand), Mitsubishi Chemical Corporation (Japan), Continental Carbon Company (US), DyStar Singapore Pte Ltd (Singapore), Phillips Carbon Black Limited (India), Omsk Carbon Group (China), and Imerys Graphite & Carbon (Switzerland) as some of the Prominent Players in the Global Market.