03 October 2022
As part of its latest expansion, Douglas Insights has evaluated various parts of the global specialty carbon black market and recognized the changes in market trends due to an increase in demand from the electronics industry and widespread adoption in the rubber industry. Adding specialty carbon black market research reports to its comparison engine will provide analysts, market researchers, businesses, and industry experts, with the information they need to correctly spot market trends, limitations, growth drivers, opportunities, barriers, and predictions.
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The global specialty carbon black market is expected to grow at a healthy rate in the coming years, with an estimated compound annual growth rate (CAGR) of 4.5% from 2022 to 2031. The global rise in adoption of specialty carbon black in the rubber industry and increasing demand in the electronic industry are the main factors driving the growth of the specialty carbon black market. Other industries and applications, such as addition in plastics, paint, coatings, inks, and toners, are also expected to drive growth.
Current trends indicate that the granule segment will continue to be the largest segment in this market, followed by powder, which is the second and only other form of specialty carbon black. However, since granules can be easily turned into powder, the former is more preferred by buyers. The specialty carbon black granules segment is expected to grow larger due to the cost-effectiveness, wide range of applications, and ease of handling of granules over powder.
Modern lithium-ion batteries use small amounts of specialty carbon black in the cathode as a conductive additive. It provides improved rate capability, battery capacity, and battery life. Specialty carbon black can also have a significant improvement on the efficiency of better production. Therefore, the global rise in demand for lithium-ion batteries for consumer electronics and electric vehicles is driving the growth of the specialty carbon black market.
Similarly, specialized carbon black is capable of increasing volume, strengthening vulcanization, and enhancing the physical properties of rubber. It is typically used as a filler in rubber tires and as a reinforcement in other rubber products. Carbon black has a wide range of applications in the rubber industry because various types and grades of carbon black can be used for desired applications. It can offer many solutions like converting UV light to heat, weather resistance, abrasion resistance, etc. Such innovative benefits have given rise to the adoption of speciality carbon black in the rubber industry, which is expected to further grow the market during the forecast period.
However, the largest application of specialty carbon black is in plastics (wires, cables, and other conductive applications), which is expected to dominate the application share during the forecast period. The Asia Pacific dominates this market by a large lead and will continue to do so in the coming years. Key market players can expect great growth opportunities within the Asia Pacific due to an increase in demand for specialty carbon black products. There are also opportunities for players in acquisitions and mergers for the consolidation of the global market.
However, the availability of substitutes and stringent government regulations to curb the environmental impact of plastics and carbon are the main restraints to the growth of this market. Some of the key global players in the specialty carbon black market include Cabot Corporation, Black Bear Carbon B.V., Orion Engineered Carbons GmbH, Birla Carbon, Asbury Carbons, Tokai Carbon Co. Ltd., Imerys S.A., Asahi Carbon Co. Ltd., Continental Carbon, Pyrolex AG, Mitsubishi Chemical Corporation, Phillips Carbon Black Limited, Lion Specialty Chemicals Co. Ltd., Denka Company Limited, and Asbury Carbons.
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