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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Specialty Carbon Black Market: Key Driving Factors and Promising Avenues
- In recent period, there is substantial increase in demand for electric vehicles and various consumer electronics products. This scenario has triggered demand for lithium-ion batteries, and thereby for different battery materials. Owing to this factor, the global specialty carbon black market is experiencing upward demand curve.
- Growing use of specialty carbon black in a wide range of industries such as automotive and printing industry is likely to generate substantial sales opportunities for vendors in the global specialty carbon black market.
- With growing demand for superior quality products, major enterprises working in this market are growing interest in incorporating innovation in the carbon black industry. As a result, industry leaders are increasing focus on research and development activities. This factor is predicted to impact positively on the overall specialty carbon black market expansion during the forthcoming years.
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Specialty Carbon Black Market: Competitive Assessment
- The competitive landscape of the global specialty carbon black market is highly intense with presence of many well-entrenched players in it.
- To maintain leading position, major stakeholders in the market are increasing their focus toward boosting their production abilities. Moving forward, many enterprises in the specialty carbon black market are launching new production plants. These moves are helping enterprises to cater to the rising demand for specialty carbon black from all across the globe.
- The list of important companies working in the specialty carbon black market includes Imerys, Cabot Corporation, Denka Company Limited, Mitsubishi Chemical Corporation, Tokai Carbon Co., Ltd., Phillips Carbon Black Limited, Birla Carbon, and Lion Specialty Chemicals Co., Ltd.
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The specialty carbon black market can be segmented as follows:
- Wires & Cables
- Conductive & Electrostatic Dissipative (ESD)
- Other Conductive Applications
- Battery Electrodes
- Lithium-ion Battery
- Paints & Coating
- Inks & Toners
- Others (Rubber, etc.)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Conductive Carbon Black Market - Based on application, the global conductive carbon black market can be classified into plastics, battery, electrodes, paints & coatings, rubber, etc. Conductive carbon black is considered as a pure elemental form of carbon and is one of the top 50 industrial chemicals manufactured globally. Carbon black finds major share as a reinforcing agent in rubber. Conductive carbon black is majorly used in applications for enhancing the physical properties of polymers in order to increase their durability, tensile strength, and resistance to abrasion, friction, and corrosion.
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