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According to ChemAnalyst report, “Specialty Carbon Black Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Specialty Carbon Black market observed a demand of 1.95 million tons in 2020 and is expected to reach 3.23 million tons by 2030, growing at a CAGR of 5.02% in the next ten years. Anticipated growth in the market can be attributed to the increasing demand from downstream industries such as Automobiles, Plastics, Printing Inks, Paints and Coatings and Others.
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Specialty Carbon Black, also known as pigment black, is an intense and the purest black form of carbon derived by the incomplete combustion of hydrocarbons exhibiting superior properties that offers enhanced pigmentation, UV protection, dispersibility as well as antistatic/ conductivity applications. It is also used as a viscosity control additive and offers electro-magnetic shielding. Owing to all these properties it is being employed in various industries and also gaining popularity in the field of Engineered Plastics. Products from the engineered plastics finds application in wide range of sectors like automotive, electronics, which is expected to expand its market in the upcoming years.
Based on application, market can be segregated into Plastics, Printing Inks & Toners, Paints & Coatings, and Others. Plastics segment led the market in the past year as it is the leading end user industry for Specialty Carbon Black since it offers improved characteristics like enhanced flexibility, durability, thermal, water and UV resistance to plastics products such as pipes, semi-conductive cables, synthetic fibers, conductive packaging, moldings, films and sheets.
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Moreover, Specialty Carbon Black is used to modify the mechanical and rheological properties of sealants and adhesives as it helps to reduce product weight, improvise flexibility of material, conserve resources along with reductions in operational costs in building and construction. Hence, increased use of sealants & adhesives in construction and industrial activities are expected to impel the market growth of global Specialty Carbon black.
In first half of 2020, due to the unprecedented outbreak of novel corona virus, majority of the industries were severely affected due to the halt in the manufacturing sector. Alongside, disturbance in supply and demand chain followed by the imposition of lockdowns across the nations further impeded the demand of the material. It resulted into the huge slump in the growth curve of Specialty Carbon Black growth as its demand was declined due to the major hit in end use industries like Automotive, Consumer Goods, Construction and Others. However, since the resumption in the industrial operations with their full efficacy after the upliftment of lockdowns in the latter half of 2020 and a speedy recovery in the demand for Specialty Carbon Black has been witnessed and further expected to boost in the forecast period due to high demand from end use industries.
Region wise, in 2020, Asia-Pacific accounted for the largest share of over 45% in global Specialty Carbon Black market followed by North America and Europe owing to the flourishing industries in the region including construction, automotive and Plastics. Moreover, rapid industrialization, growing population and the presence of large consumer base are the key factors backing up its market growth in the next ten years.
Companies operating in the global Specialty Carbon Black market are using organic strategies such as product innovation, business expansion, among others to increase their share in the market. In August 2021, Phillips Carbon Black Limited (PCBL) has announced to invest about Rs 800 crore in a green field plant near Chennai and around 300-400 crore in the brownfield expansion for Specialty Carbon Black near Mundra (India) over the next two years.
Key Players:
Orion Engineered Carbons S.A.
Cabot Corporation
Birla Carbon
Phillips Carbon Black Limited
Denka Company Limited
Tokai Carbon Co. Ltd
Mitsubishi Chemical Corporation
China Synthetic Rubber Corporation
Shandong Huibaichuan New Materials Co., Ltd
Imerys SA and others.
“Demand of Specialty Carbon Black is directly linked to Automotive, Plastics and Construction that are perpetually growing sectors owing to the rising population, rapid industrialization and changing consumer preferences consequently contributing to the growth of Specialty Carbon Black industry. It is extensively used in meeting color requirements for toners and printing inks as well as in paints and coatings sector. Specialty Carbon Black owing to its improved energy density and lightweight in comparison to nickel cadmium, finds application in automotive industry for electric vehicle production. Additionally, in automotive industry, Specialty Carbon Black is also used to offer protection against corrosion, improved durability of components as well as a reinforcing agent in tire, thereby, boosting the demand for Specialty Carbon in the forthcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
About ChemAnalyst
ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.
ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyze historical data for past years but will also get to analyze short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.
ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.
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