Specialty Carbon Black Market to Grow with a CAGR of 8.76% Globally through 2029
Growing demand of specialty carbon black in manufacturing
of printing inks and toners is expected to drive the Global Specialty Carbon
Black Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Specialty
carbon black Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2019-2029F”, the Global Specialty Carbon Black
Market stood at USD 2.24 billion in 2023 and is anticipated to grow with a CAGR
of 8.76% in the forecast period, 2024-2029. The initiatives taken by government
based on specialty carbon black has led to favorable market conditions for the Global
Specialty Carbon Black Market. Several factors contribute to the growth of
various specialty carbon black products.
Governments across the globe have recognized the
importance of controlling air emissions from carbon black manufacturing sites
and related industries. To achieve this, they have implemented regulations and
standards like the National Emission Standards for Hazardous Air Pollutants
(NEHSAP). These proactive initiatives not only aim to reduce environmental
pollution but also strive to improve air quality for the well-being of
communities. Governments understand the significance of fostering
economic development and supporting industrial growth. In alignment with these
goals, they often introduce initiatives that indirectly benefit the specialty
carbon black industry. These initiatives aim to enhance competitiveness, reduce
import dependence, and create a favorable environment for specialty carbon
black manufacturers to thrive. By offering support and opportunities,
governments contribute to the sustainable growth of the specialty carbon black
sector, which in turn positively impacts the overall economy.
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Specialty Carbon Black Market”
Specialty carbon black plays a crucial role in the
manufacturing of printing inks and toners. It is highly valued for its superior
pigmenting qualities, providing deep black coloration, excellent dispersion,
and impressive gloss characteristics. These attributes make it an ideal choice
for high-quality printing applications. In the realm of inkjet and laser
printers, specialty carbon black is extensively used to produce toners and inks
that offer high-resolution printing. Its exceptional conductivity and
heat-resistance properties further enhance the overall performance and longevity
of these products. The growing demand for high-quality printing solutions,
particularly in industries such as publishing, packaging, and advertising, has
led to an increased need for specialty carbon black. The rise of digital
printing technology has significantly amplified this demand.
The ongoing shift towards eco-friendly
and sustainable products in the printing industry has also contributed to the
market growth of specialty carbon black. This material is considered a safer
and more environmentally friendly alternative to traditional petroleum-based
inks.
The Global Specialty Carbon Black Market is segmented into type, application,
regional distribution, and company.
Based on its type, the others segment held the largest
share in the market. The pure specialty carbon black segments accounted for
approximately 23.68% of the total market share in 2023. This
growth is primarily driven by the increasing demand for pure specialty carbon
black in various industries such as construction, automotive, and paints &
coatings. In the construction industry, pure specialty carbon black is widely
used in the production of sealants, adhesives, coatings, umbilicals, rollers,
and centralizers. These products play a crucial role in enhancing the
durability and performance of construction materials. With the rising
investments in infrastructure development and the growing need for sustainable
construction practices, the demand for pure specialty carbon black is expected
to witness substantial growth.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. The growth of the specialty carbon black
market in this region can be attributed to several factors. One of the key
drivers is the presence of a manufacturing plant, which allows for cost
minimization. Additionally, the region is experiencing a surge in commercial
and residential construction projects, particularly in countries like China,
South Korea, Japan, and India. According to Global Construction Perspectives
and Oxford Economics, the global construction market is projected to reach a
staggering USD 8 trillion by 2030, with China, the US, and India leading the
way. Invest India reports that construction activity is expected to grow at a
rate of 7.1% each year. Moreover, the increasing demand for Specialty Carbon
Black in various industries such as automotive, electronic appliances, and
furniture further contributes to the growth of the market in this region during
the forecast period.
Major companies operating in Global
Specialty Carbon Black Market are:
- Omsk Carbon Group Limited
- Tokai Carbon Co., Ltd.
- Atlas Organics Private Limited
- Continental Carbon Company
- Birla Carbon India Private Limited
- Cabot Corporation
- International China Oak Investment
Holdings Co., Ltd.
- Himadri Speciality Chemical Ltd
- Phillips Carbon Black Limited
- Orion Engineered Carbons GmbH
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“A
notable development in the worldwide specialty carbon black market is the
escalating requirement for top-tier carbon black varieties customized for use
in electric vehicle (EV) technology. As transportation transitions rapidly
towards electrification and EV usage expands globally, there's a substantial
demand for specialty carbon black compositions specifically designed to cater
to the needs of EV battery systems and components. Manufacturers are committing
significant resources to research and development endeavors aimed at crafting
sophisticated carbon black formulations that fulfill the exacting specifications
of EV applications. This involves refining particle size distribution,
maximizing surface area, and ensuring high levels of purity to achieve
exceptional electrical conductivity and mechanical attributes in battery
materials.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Specialty
Carbon Black Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Lamp Black, Acetylene Black, Conductive Black,
Others), By Application (Plastics, Printing Inks & Toners, Paints &
Coatings, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Specialty Carbon Black Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Specialty
Carbon Black Market.
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