Press release
Specialty Carbon Black Market is on an Upward Growth Curve
The global specialty carbon black market is estimated to reach over USD 6.23 billion by 2031, exhibiting a CAGR of 6.11% during the forecast period.
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Specialty carbon black is a refined form of carbon obtained from the combustion of hydrocarbons. Its exceptional properties, including thermal stability, high opacity, and resistance to acids, alkalis, and black organic dyes, are key factors driving market growth. The increasing utilization of specialty carbon black in applications such as agricultural mulch films, waste disposal bags, stretch wraps, and industrial packaging is further contributing to the market expansion.
The global demand for specialty carbon black continues to rise due to its superior abrasion resistance, enhanced readability, and high stiffness. This material plays a crucial role as a conductivity and colorant additive in industrial and automotive coatings. However, the production of carbon black generates significant greenhouse gas (GHG) emissions, posing environmental and health concerns.
List of Prominent Players in the Specialty Carbon Black Market:
• Orion Engineered Carbons
• Cabot Corporation
• Birla Carbon
• PCBL Limited
• Himadri Specialty Chemical Ltd.
• Continental Carbon
• Imerys S.A.
• Mitsubishi Chemical Holdings Corporation
• Tokai Carbon Co., Ltd.
• OMSK Carbon Group
• Lion Specialty Chemicals Co., Ltd.
• Denka Company Limited
• Geotech International B.V.
• Klean Industries Inc.
• Black Bear Carbon B.V.
• Beilum Carbon Chemical Limited
• Zaozhuang Xinyuan Chemical Industry Co. Ltd.
• Hangzhou Dimacolor Co., Ltd.
• Henan Xinxu Chemical Co., Ltd.
Market Dynamics:
Drivers-
Specialty carbon black is characterized by its low ash content (less than 1%), a crucial factor influencing its demand across various applications. Many companies are prioritizing the production of specialty carbon black for storage batteries and thermoplastic rubber compounds, recognizing its essential role in these industries. Leading market players are investing heavily in research and development (R&D), strategic partnerships, and production capacity expansion to strengthen their market position. The rising demand for specialty carbon black is driven by its superior abrasion resistance, high readability, and structural rigidity.
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Challenges:
The growing concerns over environmental and health risks associated with carbon black production are hampering its widespread adoption. The manufacturing process releases harmful gases such as carbon monoxide, carbon dioxide, and sulfur dioxide, which pose serious health risks, including nausea, headaches, dizziness, and respiratory issues. In response, governments across various countries have introduced stringent regulations to curb emissions and limit exposure. The International Agency for Research on Cancer (IARC) has classified carbon black as a Group 2B substance, indicating potential carcinogenic effects on human health.
Regional Trends:
North America is anticipated to hold a significant share of the specialty carbon black market, with a strong compound annual growth rate (CAGR) in the coming years. The expansion of the polymer and packaged food industries is a key driver of growth in the region. Additionally, rising demand for coatings, adhesives, plastic-based products, and cables is being fueled by the economic recovery in the U.S., along with increasing automobile production and commercial construction activities.
Meanwhile, Asia Pacific is also witnessing substantial market growth, primarily due to the expanding use of plastics in critical industries such as construction, automotive, carbon fiber manufacturing, and packaging.
Recent Developments:
• In August 2022.-To accelerate enterprise visibility through an integrated approach to manage industrial A.I. applications, further reduce complexity, and lower total cost of ownership, Birla Carbon, a top sustainable manufacturer and supplier of black carbon additives, expanded its deployment of Aspen Technology's AIoT solutions across nine sites globally the industry leader in industrial software is Aspen Technology.
• In May 2022, Birla Carbon announced plans to increase global capacity by 200 kilotons per annum (ktpa) to meet the growing demand for carbon black. The new facility is anticipated to increase specialized carbon black and rubber carbon black capacity in important markets.
• In May 2022, Orion Engineered Carbons announced that their gas black expansion in Germany at its facilities in Dortmund and Cologne will be finished by the beginning of 2023. The company's aim to further solidify its position in the premium specialized sector includes expanding into Germany.
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Segmentation of Specialty Carbon Black Market-
By Application
• Plastics
• Battery Electrodes
• Paints and Coatings
• Inks and Toners
• Others
By Form
• Granular
• Powder
By Grade
• Fiber Carbon Black
• Conductive Carbon Black
• Food Carbon Black
• Others
By Function
• Color
• UV Protection
• Conductive
• 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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