Increasing Sales of Consumer Electronic Products Generates Prominent Expansion Avenues in Specialty Carbon Black Market TMR
- Specialty carbon black market is estimated to gain valuation of US$ 3.0 Bn by 2027. Rising demand for consumer electronic products is likely to boost sales opportunities in the market
- Asia Pacific specialty carbon black market is foreseen to grow at rapid pace due to increased production of lithium-ion batteries in region
ALBANY, N.Y., Dec. 1, 2020 /PRNewswire/ -- Specialty carbon black is gaining traction across various end-use industries owing to a wide range of properties it possesses. This chemical is known for offering ultraviolet (UV) protection and conductivity in plastics. Apart from this, specialty carbon blacks are widely used owing to their ability to improve the aesthetic appeal of different products. Owing to all these features of the chemical, the global specialty carbon black market is estimated to gather prominent demand opportunities during forecast period of 2019 to 2027.
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Analysts at TMR are of the opinion that the global specialty carbon black market will expand at decent CAGR of 4.5% during the assessment period 2019–2027. Key factor attributed to this promising growth curve is increased use of specialty carbon black in several industrial applications including lithium-ion batteries and plastics.
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Key Findings of Specialty Carbon Black Market Report
- The global specialty carbon black market is slated to grow at 4.5% CAGR between 2019 and 2027.
- Thus, the market is likely to gather valuation of around US$ 3.0 Bn by 2027 end.
- In terms of end-use industries, the plastics segment holds major share of the market.
- The specialty carbon black market achieved sales of approximately 1,000 kilo tons in 2018.
- In the abovementioned year, the market was valued at ~ US$ 2 Billion.
- Asia Pacific is predicted to continue its leading position during assessment period.
- The nature of global specialty carbon black market is highly consolidated, with around 55% market share held by key vendors.
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