Global Carbon Black for Packaging Market to Reach USD 266.11 Million by 2033, Driven by Growing Demand for Sustainable Solutions

The global carbon black for packaging market is projected to grow steadily over the next decade, with its valuation expected to rise from USD 201.9 million in 2023 to USD 266.11 million by 2033. The market is estimated to expand at a CAGR of 2.8% over the forecast period, according to industry experts.

The increasing emphasis on sustainable packaging solutions is one of the key factors fueling the demand for carbon black in the packaging industry. As an essential additive, carbon black provides exceptional UV protection, making it an ideal component in food packaging and other applications where shielding from light degradation is critical.

This heightened focus on protecting packaged products has significantly boosted the need for carbon black, contributing to market growth.

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Technological advancements within the carbon black industry are also driving innovation in packaging materials. New specialty grades of carbon black are being developed to enhance performance and functionality. Notably, conductive carbon black is being used to manufacture anti-static packaging materials, crucial for safeguarding electronic components from electrostatic discharge (ESD).

Additionally, UV-resistant carbon black is being utilized in packaging that can endure extended exposure to sunlight, further broadening the scope of its applications.

Key Takeaway: Carbon Black for Packaging Market

• The carbon black market for packaging expanded at a 1.9% CAGR from 2018 to 2022.
• North America is projected to hold a market share of USD 39.7 million by 2032, with the United States leading this growth.
• The European market is expected to grow at a rate of 3% during the forecast period, surpassing its historical growth rate of 2%.
• Polyethylene remains the dominant segment in the carbon black packaging market, with a market value of USD 54,568 million in 2023.
• Bags are the primary product segment, valued at USD 52,586 million in 2023.

Competitive Landscape

The carbon black for packaging industry's competitive landscape is active and diverse, with both large global firms and smaller regional competitors contending for market share. Smurfit Kappa Group, Sealed Air Corporation, DS Smith Plc, Pregis Corporation, and Achilles Corporation are among the leading market players, accounting for one-quarter of total market share in terms of sales.

These companies are heavily investing in R&D to produce innovative packaging solutions that fulfill the growing need for environmentally friendly, cost-effective, and visually appealing packaging. They are using their huge global distribution networks to broaden their reach and gain market share.

Key Players Operating in the Market Include

• Phillips Carbon Black Limited
• Birla Carbon USA, Inc.
• Continental Carbon India Limited
• Cabot Corporation
• Tokai Carbon Group (Cancarb)
• Sealed Air Corporation
• Pregis Corporation
• DS Smith Plc
• Achilles Corporation
• Delphon Industries, LLC
• Smurfit Kappa Group
• Storopack Hans Reichenecker GmbH
• Desco Industries Inc.
• Nefab Group
• Teknis Limited, Elcom (United Kingdom) Ltd.
• GWP Group Limited

Recent Developments in the Market:

• Birla Carbon, a global carbon black leader, launched a new sustainable carbonaceous material called "CONTINUA" on 25th May 2021. Continua products which include carbon black packaging and are a part of the circular plastic economy, are expected to reduce carbon emissions and create a cleaner and more sustainable industry.
• In 2019, Unilever announced its new high-density polyethylene bottles with "detectable" black pigments reinforced with carbon black for packaging, making them easy to detect while the recycling process.

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Key Segmentations

By Material Type:

• Acrylonitrile Butadiene Styrene (ABS)
• Polyvinyl Chloride
• Polycarbonate
• Polyethylene
• Polypropylene
• Polyamide
• Styrene Acrylonitrile (SAN)
• Other Plastics

By Application Type:

• Bags
• Trays
• Clamshells
• Shrink Films
• Boxes & Containers
• Tapes & Labels
• Foams
• Totes/IBC
• Racks
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe

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This release was published on openPR.