PUBLISHER: The Business Research Company | PRODUCT CODE: 1392920
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392920
“Specialty Carbon Black Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialty carbon black market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialty carbon black? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The specialty carbon black market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Specialty carbon black is a highly refined chemical produced by burning hydrocarbons in a controlled air supply. This refined form of carbon possesses the ability to absorb UV light and convert it into heat, enhancing the UV resistance of plastics. Specialty carbon black is employed as UV stabilizing agents, pigments, and conductive agents.
The primary forms of specialty carbon black are granules and powder. Granules are obtained by uniformly wetting the carbon blacks and are typically produced by pre-granulating the carbon black powder in the initial mixing granulator. Grades of specialty carbon black include conductive carbon black and food contact carbon black. Various process types, such as furnace black, gas black, lamp black, and thermal black, offer different functions like color enhancement, UV protection, conductivity, and other specialized functions. Specialty carbon black finds applications in plastics, battery electrodes, paints and coatings, inks and toners, rubber, and various other industrial applications.
The specialty carbon black market research report is one of a series of new reports from The Business Research Company that provides specialty carbon black market statistics, including specialty carbon black industry global market size, regional shares, competitors with a specialty carbon black market share, detailed specialty carbon black market segments, market trends and opportunities, and any further data you may need to thrive in the specialty carbon black industry. This specialty carbon black market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The specialty carbon black market size has grown rapidly in recent years. It will grow from $3 billion in 2023 to $3. 37 billion in 2024 at a compound annual growth rate (CAGR) of 12. 3%. The growth observed in the historical period can be attributed to various factors, including the increasing demand for specialty carbon black in the tire industry, a heightened demand for plastics and rubber products, a growing need for printing inks and coatings, an increased demand for high-performance materials in the automotive industry, and a rising awareness of the reinforcing properties of carbon black in various materials.
The specialty carbon black market size is expected to see rapid growth in the next few years. It will grow to $5. 49 billion in 2028 at a compound annual growth rate (CAGR) of 13. 0%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for specialty carbon black in the electronics industry, a rise in demand for specialty carbon black in the construction industry, a growing need for specialty carbon black in the packaging industry, the expansion of the electronics industry with applications in conductive polymers, and an increasing demand for high-performance and sustainable materials across various applications. Noteworthy trends expected in the forecast period encompass the exploration of alternative raw materials for specialty carbon black production, the development of customized and application-specific specialty carbon black grades, the integration of nanotechnology for enhanced properties, a focus on eco-friendly and sustainable practices, and collaboration between specialty carbon black producers and end-user industries for innovation.
The specialty carbon black market is poised for growth, driven by the increasing demand for plastics and coatings. Plastics, which encompass both natural and synthetic materials, along with coatings-layers covering surfaces-have a rising need for specialty carbon black as an insulating agent in applications like rubber, plastic, ink, and coatings, contributing to the reinforcement of vehicle tires. Notably, in June 2021, global demand for paints and coatings surged, rising from 14% in Q1 2021 to 22% in Q2 2021, with India and China witnessing the most significant increases. This escalating demand for plastics and coatings is a significant factor propelling the specialty carbon black market.
The specialty carbon black market is set to benefit from the growth in the automotive industry. The automotive sector, encompassing vehicle production, sales, and maintenance, utilizes specialty carbon black in various applications, including tire manufacturing, automotive rubber components, conductive plastics, coatings and pigments, and battery components. A notable surge in total vehicle production in the United States, reaching 11. 06 million units in September 2023 from 10. 77 million units in June, underlines the positive impact of the automotive industry on the specialty carbon black market.
A prominent trend in the specialty carbon black market is the increasing focus on investments by major companies to maintain their market positions. Phillips Carbon Black Ltd., an India-based manufacturer, announced a substantial investment of INR 300 million to enhance capacity in Mundra for specialty carbon black, alongside an additional INR 100 million in research and development facilities in Belgium and India. This strategic investment emphasizes the commitment to sustaining and expanding capabilities in the specialty carbon black market.
In the specialty carbon black market, major companies are directing efforts toward product innovation, aiming to improve tire performance and sustainability. Product innovation involves the development of advanced carbon black products, encompassing new formulations, manufacturing processes, or applications to enhance performance, sustainability, and overall market competitiveness. Cabot Corporation, a US-based specialty chemicals and performance materials company, introduced the VULCAN 3-LP carbon black in October 2021. This innovative low-polycyclic aromatic hydrocarbon (PAH) rubber product is pelletized and designed for end-use rubber goods requiring superior reinforcement, strength, abrasion resistance, and tearing resistance compared to semi-reinforcing carbon blacks.
In November 2021, Cabot Corporation, a specialty chemicals and performance materials company based in the United States, completed the acquisition of Tokai Carbon Group for a sum of $9 million. This strategic move is expected to result in improved services for Cabot Corporation's existing clients in the carbon black industry. Tokai Carbon Group, based in Japan, is a specialized manufacturer of specialty carbon black.
Major companies operating in the in the specialty carbon black market report are Cabot Corporation, Birla Carbon, Tokai Carbon Co Ltd., Continental Carbon Company, Omsk Carbon Group, Orion Engineered Carbons, Automator International Ltd., Kuster Holding GmbH, ISITAN, Phillips Carbon Black Limited, Denka Company Limited, Mitsubishi Chemical Corporation, Sid Richardson Carbon and Energy Co, Imerys Graphite & Carbon, Asbury Carbons Inc., Beilum Carbon Chemical Limited, Hebei Daguangming Juwuba Carbon Black Co Ltd., Black Bear Carbon B. V., Nippon Pelletized Carbon Co Ltd., Jinneng Science & Technology Co Ltd., Longxing Chemical Stock Co Ltd., Delta-Energy Group LLC, Shandong Emperor-Taishan Carbon Co Ltd., Shanxi Huachang Chemical Co Ltd., OCI Company Ltd., Rheinmetall Group, Aditya Birla Group, Ampacet Corporation, Himadri Speciality Chemical Ltd., Pyrolex AG
Asia-Pacific was the largest region in the specialty carbon black market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty carbon black market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the specialty carbon black market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The specialty carbon black market consists of sales of conveyor belts, plastics, and printing inks. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.