Specialty Carbon Black Market Foreseen to Grow Exponentially by 2031

Specialty Carbon Black Market Outlook 2031
• The global specialty carbon black market was valued at US$ 2.3 Bn in 2021
• It is estimated to grow at a CAGR of 4.5% from 2022 to 2031
• The global specialty carbon black market is expected to reach US$ 3.2 Bn by the end of 2031
Analysts' Viewpoint on Specialty Carbon Black Market Scenario

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Increase in demand for specialty carbon black due to its structural integrity, cost-effectiveness, high loadability, and excellent abrasion resistance is driving the global specialty carbon black market. Specialty carbon black is used as a coloring and conductive agent in automotive coatings and industrial coatings. A key feature of specialty carbon black is its low ash content (less than 1%). Several companies are primarily focusing on manufacturing specialty carbon black, specifically for lead batteries and rubber carbon black in thermoplastics. Key players are investing in R&D activities, collaborations with other businesses, and expansion of their production capacities to strengthen their position in the market.
Increase in Demand for Specialty Carbon Black in Electronics Industry
Conductive carbon black is used in modest dosages in the cathode of modern lithium-ion batteries to establish a 3D conductive network in order to ensure that the non-conductive active materials (such as lithium-nickel-manganese-cobalt oxide) are electrically coupled to one another and the current collector. Electrical current would not flow and the battery would not function without a conductive carbon black that coats the surface of the active material in a fine network. Conductive additives must possess low resistance, high conductivity, and effective dispersibility to obtain the lowest loading in cathode preparation.

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Regional Outlook of Global Specialty Carbon Black Market
Asia Pacific accounted for 52.8% share of the global market in 2021. Market share of the region is estimated to rise to 53.8% by 2031. Growth of the market can be ascribed to the low cost of production, rise in demand for specialty carbon black, and increase in large-volume exports by countries in the region.

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Market share of North America is anticipated to decline by 0.1% during the forecast period due to stringent regulations imposed by the U.S. Environmental Protection Agency on hazardous chemicals released from specialty carbon black manufacturing facilities. Europe is also expected to record a 0.3% decrease in market share, due to the introduction of stringent regulations on environment, energy efficiency, and safe manufacturing of tires in the region in 2012. The market in Latin America and Middle East & Africa is anticipated to grow at a sluggish pace due to the lack of established end-use industries in the regions.

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Analysis of Key Players in Specialty Carbon Black Market
The global market is highly competitive, owing to the presence of several small- and medium-scale manufacturers and suppliers of specialty carbon black. Key players are investing significantly in R&D activities to introduce new products in the market. Expansion of product portfolios and mergers and acquisitions are key strategies adopted by players. Cabot Corporation, Imerys S.A., Mitsubishi Chemical Corporation, Denka Company Limited, Phillips Carbon Black Limited, Tokai Carbon Co. Ltd., Lion Specialty Chemicals Co., Ltd., Birla Carbon, Ampacet Corporation, Himadri Speciality Chemical Ltd., Continental Carbon, Orion Engineered Carbons, Asbury Carbons, Pyrolex AG, and Black Bear Carbon B.V. are leading specialty carbon black market players.

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