Specialty Carbon Black : Market Size, Share, Prominent Players, Market Dynamics, Regional Study, Key developments and Market Segmentations Forecast by 2031

The global specialty carbon black market is estimated to be worth $3.88 billion in 2023 and is expected to grow to $6.23 billion by 2031, with a compound annual growth rate (CAGR) of 6.30% during the forecast period of 2024-2031.

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Speciality carbon black is the refined form of carbon produced from the combustion of hydrocarbons. The speciality carbon black market is primarily driven by exceptional qualities such as thermal stability, high opacity, resistance to acids and alkalis, and black organic dyes. The product's increasing use in agricultural mulch film, garbage sacks, stretch wraps, and industrial bags will also facilitate market expansion.

The global market for speciality carbon black is being stimulated by the growing demand for the material, attributed to its exceptional abrasion resistance, legibility, and stiffness. Specialized carbon black is a colour and conductivity compound that is employed in industrial and automobile coatings. During the production of carbon black, a substantial quantity of hazardous greenhouse gases (GHGs) are emitted, which may have adverse effects on human health and the environment.

In order to enhance the quality of their products and reduce greenhouse emissions to within the permissible limit, companies are investing in research and development activities to enhance their manufacturing methods. Additionally, the stringent regulations imposed by these organizations are due to the fact that the complete fuel combustion process used to produce carbon black is detrimental to both human health and the environment.

List of Prominent Players in the Specialty Carbon Black Market:

• PCBL Limited
• Himadri Specialty Chemical Ltd.
• Continental Carbon
• Imerys S.A.
• Mitsubishi Chemical Holdings Corporation
• Black Bear Carbon B.V.
• Beilum Carbon Chemical Limited
• Zaozhuang Xinyuan Chemical Industry Co. Ltd.
• Tokai Carbon Co., Ltd.
• OMSK Carbon Group
• Lion Specialty Chemicals Co., Ltd.
• Denka Company Limited
• Geotech International B.V.
• Klean Industries Inc.
• Orion Engineered Carbons
• Cabot Corporation
• Birla Carbon
• Hangzhou Dimacolor Co., Ltd.
• Henan Xinxu Chemical Co., Ltd.

Market Dynamics:

Drivers-

A critical characteristic of speciality carbon black is its low ash concentration (less than 1%). Several businesses prioritize the production of specialized carbon black, particularly for storage batteries and elastomer carbon black in thermoplastics. In order to enhance their market position, significant organizations are investing in research and development initiatives, business partnerships, and production capacity development. The global market for specialized carbon black is being driven by the increasing demand for the material, which is characterized by its exceptional abrasion resistance, high legibility, and high rigidity. In industrial and automotive coatings, a substance known as specialized carbon black is employed for its colour and resistivity.

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Challenges:

The demand for carbon black is decreasing due to the emission of more hazardous gases, such as carbon monoxide, carbon dioxide, and sulfur dioxide. The inhalation of these gases can lead to a variety of adverse health effects, such as headaches, nausea, disorientation, and chest tightness. Consequently, governments in a diverse array of countries have implemented a number of stringent regulations and laws. Concerns regarding the product's potential health hazards for individuals were reported by the International Agency for Cancer Research. IARC has classified carbon black as a Group 2B material, which is highly carcinogenic and potentially detrimental to human health. The restraints mentioned above are causing a decrease in product acceptability, which is also anticipated to impede market expansion.

Regional Trends:

Due to the expanding polymer and packaged food industries, the North American speciality carbon black market is anticipated to achieve a substantial market share in revenue and expand at a high compound annual growth rate soon. It is anticipated that the recovery of the U.S. economy and the increase in commercial and automobile construction activity will stimulate demand for coatings and adhesives, as well as cables and cables. In addition, Asia Pacific's market share was substantial. The rise in this region is attributable to the increased use of plastic in critical end-use sectors such as construction, automotive, carbon fibres, and packaging. It is anticipated that the regional market expansion in China, India, and Southeast Asian nations will continue to be significantly influenced by increasing polymer manufacturing during the forecast period.

Recent Developments:

• In August 2022, Birla Carbon, a leading sustainable manufacturer and supplier of black carbon additives, expanded its deployment of Aspen Technology's AIoT solutions across nine sites to accelerate enterprise visibility, reduce complexity, and lower total cost of ownership through an integrated approach to manage industrial A.I. applications. Aspen Technology is the industry authority in industrial software on a global scale.

• In May 2022, Birla Carbon disclosed its intention to augment its global capacity by 200 kilotons per annum (ktpa) to satisfy the increasing demand for carbon black. The new facility is expected to expand the capacity of specialized carbon black and rubber carbon black in significant markets.

• In May 2022, Orion Engineered Carbons declared that its gas black expansion in Germany at its Dortmund and Cologne facilities would be completed by the start of 2023. In an effort to fortify its position in the premium specialized sector, the organization intends to expand into Germany.

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Segmentation of Specialty Carbon Black Market-

By Application
• Paints and Coatings
• Inks and Toners
• Plastics
• Battery Electrodes
• Others

By Form
• Powder
• Granular

By Grade
• Conductive Carbon Black
• Food Carbon Black
• Fiber Carbon Black
• Others

By Function
• Conductive
• Color
• UV Protection
• Others

By Region-

North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.