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"The Global Specialty Carbon Black Market is Projected to Reach an Estimated US$ 2.81 Bn by 2028 With a CAGR Of 4.2% From 2020-2028."
The demand for specialty carbon black is majorly driven by flourishing end-use industries such as the plastics manufacturing industry. The polymer industry is expected to continue its dominance in developing economies such as countries of the Asia Pacific and Latin America and Africa that is driving its market potential. The specialty carbon black also has some specialty grades that are rising in their demand includes conductive, fibre and food cater to end-use industries that constitute of conductive polymers, paints & coatings, battery electrodes, printing inks, polyester fiber, PP masterbatches, specialty packaging, film & sheets, and consumer molded parts, etc..
Specialty carbon black materials exhibit properties such as superior conductive, low ash, sulfur & metal that protects from UV radiations. Specialty carbon blacks have a good market potential due to their unique qualities such as pigmentation, UV protection, and conductivity to various coating applications among automotive that includes marine, aerospace, wood, and industrial coatings. The extraction of this Specialty carbon black is from a strong refining process by scorching hydrocarbons with four techniques that include lampblack, furnace black, acetylene black and thermal black. This process is an unadulterated form with a low content of ash and other metals elements.
The Specialty carbon black material has a wide application in non-rubber automotive products and has a significant role in producing lightweight and fuel-efficient vehicles. The materials have an extensive application in non-rubber products and have been non-effective from the cyclical nature of the rubber & tire industry. The Environmental Protection Agency (EPA) had enforced certain policies in consideration of GHG reporting in the U.S. regulations offered a catalyst action in the advancement of the new ASTM International standard, ASTM D7633, that is considered as the only test that could be assessing carbon content. There are larger opportunities for specialty blacks in the paints & coatings industry that constitutes of electrically conductive coatings that could be utilized among the production of nanobots. They can be further used for increasing the speed of Thermos resins.
Rise in the market share for specialty carbon black is the concern for environmental influence. The production of these materials is under constant up-rise despite environmental concerns. The manufacturers do have a regulatory obligation to adhere to these laws which could attribute to the cost of production of specialty carbon black materials.
Plastics Segment Is to Dominate the Global Specialty carbon Market during the forecast period:
The specialty carbon blacks are produced through combustion of hydrocarbons that cater to the development of specialty carbons of various grades, hence these are also heavily utilized in the plastic molds for their performance, color, and durability among various automobile as well as industrial components. These carbon black segments have properties such as color, UV protection, and conductivity. Thus opting for suitable specialty carbon black materials is needed to balance the properties of the molds of plastic components. Manufacturers are demanding these specialty carbon black for plastic molds in order to gain a high dispersion rate in achieving de-agglomeration, which shall minimize defects on the surface of molds, offers customized color and reduces the deterioration of mechanical properties.
While the plastic molds are manufactured there are several contaminants such as ash and grit that could lower its aesthetics and mechanical characteristics. Thus specialty carbon black materials cater to offering high levels of smooth and clean surfaces of the plastic molds that have increased the demand for these materials in the market. The need for the specialty carbon black materials had increased in recent times due to their peculiar properties including pigmentation in offering suitable levels of color and opacity. It is being widely utilized in the production of components such as consumer, industrial and automotive markets globally. Moreover, the market share of specialty carbon black is also at a good pace in cable manufacturing due to their high performance in various environmental conditions globally. These specialty carbon black materials contribute to the cables in enhancing lifetime as it protects these cables from UV rays, extreme temperatures, etc. encouraging its usage by cable manufacturers.
The capability of the specialty carbon black materials to be electrically conductive ensures the end-users in achieving high benefits among the consumer durable and electronic devices. These materials are also in demand by the food-grade specialty carbon black packaging materials whose requirements are rising despite the several governmental policies enforcement among various countries.
Asia Pacific Region to Dominate the Global Specialty Carbon Black Market During The Forecast Period
The Asia Pacific region is estimated to have the highest market growth due to the presence of abundant sources of raw materials that cater to the manufacturers of carbon black. Thus the companies operating in this region could take advantage of the specialty carbon black manufacturing because of the lower cost incurred on the companies. There are a substantial number of organizations that are contributing to the production of specialty carbon black market encouraging for export of these offerings to other regions. Therefore, the region has a substantial amount of opportunities for the companies that either utilize carbon black or produce these materials. Such factors are increasing the capacities of the companies that are enhanced foothold in the region.
Thus encouraging different new entrants into this market despite several regulatory policies imposed by the government and had a subsequent influence on the market for the specialty carbon black materials. Even after the enforcement of environmental protection laws by the government in this region, there is a considerable growth of the specialty carbon black market. The region has a healthy market share in contrast to the other regions due to its prominent advantages to the companies that are operating in this region. Moreover, the region is experiencing growth in the industrialization process because of technological advancement and the presence of a wide range of resources. Tapping this market by some companies could be an advantage too because of these contributing factors that are stated above. Therefore companies are willing to invest in this market due to favorable factors that could enhance their market foothold and support various industries.
The global Specialty Carbon black market is fragmented and has the presence of a few manufacturing and consumer organizations globally. Moreover, the companies are focusing on increasing their customer reach for gaining a significant market foothold. Organizations are also expanding their foothold globally through various market entry strategies such as partnering, venture capital, and acquisition, etc. such growth in the market has increased the competition among the players of manufacturing specialty carbon black materials.
Key competitors present the specialty carbon black market is stated as follows: Orion Engineered Carbon, Aditya Birla, Philips Carbon Black Limited, and Cabot Corporation. Other prominent players operating in the global market include OMSK Group, Sid Richardson, Tokai Co. Ltd., Atlas Organic Pvt. Ltd., Continent
Key segments of the speciality carbon black market:
- Wire & Cable
- Printing and Packaging
- Building and Construction
- UV Protection
- Asia Pacific
- North America
- Latin America
- Middle east & Africa