Specialty Carbon Black Market - Forecast(2024 - 2030)

Report Code: CMR 74151 Report Format: PDF + Excel

Specialty Carbon Black Market Overview

Specialty Carbon Black market size is forecast to reach US$3.4 billion by 2027 after growing at a CAGR of 7.5% during 2022-2027 owing to the growing demand for coatings, plastics, toners, and printing inks in the various end-use industries like transportation, construction, and others. Specialty Carbon Black is a highly refined chemical that acts as an important industrial raw material that is widely used in the production processes of plastics, printing inks and automotive coatings. They offer various properties including tinting strength, conductivity, dispensability, and UV radiation resistance among others. It is used as a reinforcing agent in hoses, tires, belts, isolation devices, brushings, and others. According to Automotive Tire Manufacturers’ Association (ATMA), the tire industry in India has generated a revenue of US$8.5 billion in 2020 having 46 tire companies with 66 manufacturing plants. Therefore, the growing automotive tire will help to increase the demand for the specialty carbon black market during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has impacted the global economy directly affecting the supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Currently, due to the COVID-19 pandemic, the core industries such as the construction, transportation sectors have been highly impacted. According to the automotive industry association's September 2021 outlook, there has been a 7.7% decline in the production of commercial vehicles and a 24.7% decline in motor vehicles as compared to the September 2020 outlook. There has been a sharped decline in the revenue of the different industries. The government and private sectors are taking necessary action to recover the loss of different industries which will help in the growth of the Specialty Carbon Black market.

Report Coverage

The report: “Specialty Carbon Black Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Specialty Carbon Black industry.

By Grade: Conductive Grade, Fiber Carbon Black, Food Contact Carbon Black, Others
By Process: Furnace black, Thermal black, Acetylene black, Lampblack, Gas Black, Others
By Application: Plastics, Printing Inks, Paints & Coatings, Adhesives & Sealants, Batteries, Reinforcing agent, Thermoplastic molding, Wires & Cable, Metallurgy, Tires, Toners, Others
By End-Use Industry: Transportation (Automotive, Aerospace, Marine, Railways, Others), Building & Construction (Residential Construction, Commercial Construction, Infrastructure, Others), Electrical & Electronics, Household Appliance, Textile fiber Industry, Pharmaceutical, Packaging, Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World: the Middle East(Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa(South Africa, Nigeria, Rest of Africa)

Key Takeaways

  • The Asia Pacific is expected to register a CAGR of 8.2% during the forecast period (2022-2027). The increasing construction activities in Asian countries such as China, India, Japan, and South Korea are driving the market demand for specialty carbon black.
  • Growing electrical & electronics industry along with growing demand for domestic appliances like air conditioners, refrigerators, washing machine, kitchen stoves and many more is driving the market growth the specialty carbon black market in during the forecast period.
  • The growing automotive sector is helping in the growth of specialty carbon black market due to its usage in hybrid and electric vehicles, lightweight automotive parts by providing protection, comfort, and energy conservation.

Figure: Asia Pacific Specialty Carbon Black Market Revenue, 2021-2027 (US$ Billion)

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Specialty Carbon Black Market Segment Analysis - By Grade

The pure specialty carbon black segments accounted for approximately 24% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. The increasing demand for pure specialty carbon black in construction, automotive, paints & coating is driving the market. The pure specialty carbon black is merged with polyols to obtain the products like sealants, adhesives, coating, umbilicals, rollers, and centralizers, among others. According to British Coatings Federation, in 2019, US$ 403.92 billion has been spent in the United Kingdom on paint, printing inks, and wall coverings which are widely used in the construction, home improvement, printing, automotive, aerospace, and other advanced manufacturing sectors are driving the market for pure specialty carbon black during the forecast period.

Specialty Carbon Black Market Segment Analysis – By Process

The furnace black segments accounted for approximately 32% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. This process forms carbon black by blowing oil or coal as a raw material into high-temperature gases to blaze them partially. This furnace black process is widely used for mass production due to its high output and wide control over its properties like particle size or structure. The furnace black process is used in the production of rubber reinforcement to paint & coatings. According to World Paint & Coatings Association, the global sales volume of Paint & Coating reached US$ 167 billion in 2020. The increase in sales volume will help to grow the demand for furnace black segments during the forecast period.

Specialty Carbon Black Market Segment Analysis – By Application

The Plastic segment accounted for more than 11% of the market share in 2021. The increasing growth in the polymer industry and increasing demand for pipes, hoses, and belts from the plastic industry is anticipated to drive the demand for the Specialty carbon black market. According to the Plastic Industry Association, plastic products sales have been increased from US$15.7 billion in 2019 to US$20.9 billion in 2020, an increase of 33.0% in the United States having the largest plastics products surplus with Mexico at US$2.4 billion. China has the largest plastics products trade deficit of US$17.8 billion in 2020 with a rise of 14.8% from 2019. Therefore, the growing demand for plastic goods will increase the demand for specialty carbon black during the forecast period.

Specialty Carbon Black Market Segment Analysis – By End-use Industry

The Textile Fiber segment accounted for more than 8% of the market share in 2021 and is estimated to grow significantly during the forecast period owing to its fibrous structure and length suitable for weaving or knitting. The increasing demand for synthetic textiles due to limited cotton production is fueling the textile fibers segment during the forecast period. According to the World count, 27 million tons of cotton are produced every year. The five countries produce 75% of total cotton. India produces 6.1 million tons, China 5.5 million tons, US 4.1 million tons, Brazil 1.9 million tons, and Pakistan 1.7 million tons. Therefore the growing demand for superior quality textile synthetic fabrics for higher durable applications such as industrial clothing, defense, and outdoor wear will contribute to the growth of the Specialty Carbon Black Market.

Specialty Carbon Black Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the Specialty Carbon Black market in 2021 up to 40%, owing to the presence of a manufacturing plant in this region as a measure of cost minimization. The growing commercial and residential construction projects in the countries like China, South Korea, Japan, and India are driving the market growth in the region. According to Global Construction Perspectives and Oxford Economics, the global construction market is estimated to grow US$ 8 trillion by 2030 driven by China, the US, and India. According to Invest India, construction activity is expected to grow 7.1% each year. The increasing demand for Specialty Carbon Black in Automotive, electronic appliances, furniture, and others is also helping in the growth of the Specialty Carbon Black Market in this region during the forecast period.

Specialty Carbon Black Market Drivers:

Growing Demand of Specialty Carbon Black in Automotive

The Specialty Carbon Black is widely used in the automotive sector and held a share of 10% in 2020. The Specialty Carbon Black helps formulators to achieve anti-settling performance, tailor rheological properties, and improve scratch resistance and clarity in the automotive sector for both water-based and solvent-based systems to deliver exceptional color performance. According to the China Association of Automobile Manufacturers, The production and sales of passenger cars were 14.658 million and 14.862 million respectively, representing a year-on-year increase of 10.7% and 11.0% from January 2021 to September 2021. Therefore the growing demand for passenger cars is driving the Specialty Carbon Black during the forecast period.

Increasing demand for Specialty Carbon Black in Electrical and Electronic

The electrical and electronic sectors showed significant growth owing to electromagnetic shielding, semi-conductive cable compound and control additive viscosity, and high-quality pigmentation characteristics. The growing usage of the specialty carbon black in wire & cable to protect against premature failure or damage due to electrostatic discharge in electronic and electrical packaging and equipment is driving the specialty carbon black market during the forecast period. According to Invest India, the global electronic is estimated around US$ 2 trillion and India is the largest contributor holding US$ 118 billion of Electronic Market and is estimated to reach US$ 125 Billion by 2025. Therefore, the growing electronic market will boost the Specialty Carbon Black market between 2022-2027. 

Specialty Carbon Black Market Challenges:

Growing Environment concern due to usage of Specialty Carbon Black

Environmental concern has always been a major challenge in the specialty carbon black market. The harmful emission of gases like carbon dioxide, nitrogen oxide, carbon monoxide, and others during the manufacturing of specialty carbon black is impacting environment but also living things. . Excessive exposure to specialty carbon black causes skin & respiratory tract irritation, asthma, and dermatitis, which is restraining the specialty carbon black market during the forecast period. The increasing demand for eco-friendly products like green tire manufacturers is being replaced with silica is restraining the growth Specialty Carbon Black market.

Specialty Carbon Black Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Specialty Carbon Black market. The Major players in the Specialty Carbon Black market are

  1. Cabot Corporation
  2. The Orion Engineered Carbons GmbH
  3. Asia Carbon Industries Inc
  4. Zaozhuang Xinyuan Chemical Industry Co. Ltd
  5. Sid Richardson Carbon & Energy Co.
  6. Birla Carbon
  7. Continental Carbon
  8. Himadri Speciality Chemical Ltd.
  9. Mitsubishi Chemical Corporation
  10. Phillips Carbon Black Limited

Recent Developments

  • In November 2021, Cabot Corporation has entered a definitive agreement to acquire Tokai Carbon (Tianjin) Co Ltd from Tokai Carbon Group for US$9 million. The acquisition is expected to support the growth of Cabot’s Battery Materials product line while continuing to serve existing carbon black customers.
  • In July 2021, Orion Engineered Carbons S.A. has entered into a partnership with the Research Institutes of Sweden to develop and produce renewable carbon black. This collaboration represents an important step towards more climate-neutral carbon black production by replacing traditional carbon black feedstock with pyrolysis oil from biomass oil. 

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1. Specialty Carbon Black Market- Market Overview
    1.1 Definitions and Scope 
2. Specialty Carbon Black Market- Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Process
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Specialty Carbon Black Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Specialty Carbon Black Market - Startup Companies Scenario  Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Specialty Carbon Black Market – Industry Market Entry Scenario Premium  Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Specialty Carbon Black Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Specialty Carbon Black Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Specialty Carbon Black Market – By Grade (Market Size -US$ Million/Billion)
    8.1 Conductive Grade
    8.2 Fiber Carbon Black
    8.3 Food Contact Carbon Black
    8.4 Others 
9. Specialty Carbon Black Market – By Process (Market Size -US$ Million/Billion)
    9.1 Furnace black
    9.2 Thermal black
    9.3 Acetylene black
    9.4 Lampblack
    9.5 Gas  Black
    9.6 Others
10. Specialty Carbon Black Market – By Application (Market Size -US$ Million/Billion)
    10.1 Plastics
    10.2 Printing Inks
    10.3 Paints & Coatings
    10.4 Adhesives & Sealants
    10.5 Batteries
    10.6 Reinforcing agent
    10.7 Thermoplastic molding 
    10.8 Wires & Cable
    10.9 Metallurgy
    10.10 Tires
    10.11 Toners
    10.12 Others 
11. Specialty Carbon Black Market – By End-Use Industry (Market Size -US$ Million/Billion)
    11.1 Transportation
        11.1.1 Automotive
        11.1.2 Aerospace
        11.1.3 Marine
        11.1.4 Railways
        11.1.5 Others
    11.2 Building & Construction
        11.2.1 Residential Construction
        11.2.2 commercial  Construction
        11.2.3 Infrastructure
        11.2.4 Others
    11.3 Electrical & Electronics
    11.4 Household Appliance
    11.5 Textile Industry
    11.6 Pharmaceutical
    11.7 Packaging
    11.8 Others 
12. Specialty Carbon Black Market -By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
   Saudi Arabia
   Rest of the Middle East
        12.5.2 Africa
   South Africa
   Rest of Africa
13. Specialty Carbon Black Market– Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Specialty Carbon Black Market – Industry/Segment Competition Landscape  Premium
    14.1 Company Benchmarking – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Specialty Carbon Black Market – Key Company List by Country Premium  Premium
16. Specialty Carbon Black Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"