Product Code: BWC22347
Global Specialty Carbon Black Market to Grow at a CAGR of 11.4%, during Forecast Period
Global Specialty Carbon Black Market is flourishing owing to the development of new applications and technology along with the rising use of carbon black in numerous products, including tires, non-tire rubber, plastics, inks and coatings, lithium-ion batteries, and graphite manufacture.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Specialty Carbon Black Market was worth USD 2.56 billion in the year 2021. The market is projected to grow at a CAGR of 11.4%, earning revenues of around USD 5.39 billion by the end of 2028. The Global Specialty Carbon Black Market is booming because of the rising use of carbon black in a variety of end-use industries, primarily the paints and coatings, tire, and rubber industries. This is what is driving the worldwide carbon black market. Manufacturers involved in the black market for carbon are concentrating on product innovation to increase revenue in developing nations. The global market for carbon black is being driven by the rise in demand for it in the automotive sector. Manufacturing firms should concentrate on addressing issues with the carbon black market, such as shifting costs for raw materials. The price of crude oil has an immediate impact on the raw ingredients used to make carbon black. Market participants must boost production and efficiency to ensure consistent growth. However, CO2 emissions from the manufacture of carbon black, in turn, may act as a huge restraining factor for the market growth.
Rising Need for Carbon Black in the Tire Industry
The tire industry uses carbon black extensively. Carbon black gives tires added strength and durability. It also protects rubber tires from oxidation and ultraviolet radiation. Modern tires need various grades of carbon black and various grades of rubber compositions, depending on the performance. As tire innovation looks out for new, improved low rolling resistance (LRR), with an emphasis on tire weight reduction, the use of carbon black is projected to rise (and aerodynamics). Additionally, three of the top four tire markets worldwide are China, India, and Japan. These three countries will account for 70% of the Asian tire market in 2020. This results in offering lucrative opportunities for the Global Specialty Carbon Black Market during the forecast period (2022-2028).
Increase in the Use of Carbon Black in Different End-Use Industries
The rise in demand for the substance across several industries, including rubber reinforcement, paints & coatings, plastics, battery electrodes, and inks & toners, is driving the carbon black market. The growing demand for carbon black in the tire industry is the main factor driving the market. Carbon black is often used as a reinforcing filler in rubber compositions for both tires and non-tire applications. The sector is growing as a result of rising worldwide vehicle sales and production. Carbon black is widely used to strengthen rubber in tires. It may make up about 30% of the weight of a tire. A vital component of automotive rubber parts such as engine mounts, hoses, anti-vibration parts, and sealing systems is carbon black.
Challenge: Environment-Related Issues
It is detrimental to both the environment and human health for dangerous GHGs to be released during the manufacture of carbon black. To raise the quality of their output while lowering gas emissions to the legal limit, businesses are investing in R&D to develop manufacturing procedures. Furthermore, carbon black is subject to strict controls from these organizations because it is made by the incomplete combustion of fuels that are bad for the environment and people's health. Carbon black was added to the list of substances known to the State of California to cause cancer by the Office of Environmental Health Hazard Assessment (OEHHA) in February 2003.
Segmental Coverage
Global Specialty Carbon Black Market - By End-User
Based on end-user, the Global Specialty Carbon Black Market is segmented into Automotive, Electrical & Electronics, Packaging, Building & Construction, Textiles, and Others. The packaging sector today has the largest market share and is expected to maintain this position during the projection period (2022-2028). This is due to rising demand from the food and beverage, household goods, and pharmaceutical industries. This determines the packaging segment's market share dominance in the following years.
Impact of COVID-19 on Global Specialty Carbon Black Market
The coronavirus pandemic has significantly harmed the world's illicit market for carbon, which has an impact on several sectors and production methods. Value chain disruption has caused substantial losses for manufacturers who participate in the global carbon black market. Because of the expanding demand from a range of end-use industries, such as tires, plastic, paint & coatings, etc., producers are still developing promising possibilities even if the COVID-19 epidemic has damaged all commercial operations in the carbon black market. The increasing use of carbon black in the coating, printing inks, and plastic processing is advantageous for manufacturers in the carbon black industry. The strategic tactics used by market participants let them bounce back from COVID-19 losses.
Competitive Landscape
The leading market players in the Global Specialty Carbon Black Market are OMSK Carbon Group, Tokai Carbon CB Ltd, Atlas Organic Pvt. Ltd, Continental Carbon Company, Aditya Birla Group, Cabot Corporation, International CSRC Investment Holdings Co., Ltd., Himadri Specialty Chemical Ltd, Phillips Carbon Black Limited, Orion Engineered Carbons GmbH, Mitsubishi Chemical Corporation, Mil-Spec Industries Corporation, Cancarb, and other prominent players. The Global Specialty Carbon Black Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Specialty Carbon Black Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Specialty Carbon Black Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Type Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Global Specialty Carbon Black Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increase in penetration of carbon black in automotive industry
- 3.2.1.2. Increase in demand from cosmetic industry
- 3.2.2. Restraints
- 3.2.2.1. Implementation of stringent guidelines toward use of carbon black
- 3.2.3. Opportunity
- 3.2.3.1. Need for green alternatives to reduce carbon footprints
- 3.2.3.2. Increasing requirement for UV protection and conductive properties in plastics
- 3.2.4. Challenges
- 3.2.4.1. Volatility in raw material prices
- 3.2.4.2. Substitution with silica in tires
- 3.2.4.3. Availability of acceptable quality of feedstock
- 3.3. Technological Advancement/Recent Development
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Global Specialty Carbon Black Market Overview
- 4.1. Market Size & Forecast, 2018-2028
- 4.1.1. By Value (USD Billion)
- 4.1.2. By Volume (in Tons)
- 4.2. Market Share & Forecast
- 4.2.1. By Grade
- 4.2.1.1. Conductive Grade
- 4.2.1.2. Food Grade
- 4.2.1.3. Fiber Grade
- 4.2.1.4. Others
- 4.2.2. By Application
- 4.2.2.1. Plastics
- 4.2.2.2. Masterbatch
- 4.2.2.3. Printing Ink
- 4.2.2.4. Paints & Coatings
- 4.2.2.5. Adhesives & Sealants
- 4.2.2.6. Batteries
- 4.2.2.7. Others
- 4.2.3. By End User Industry
- 4.2.3.1. Automotive
- 4.2.3.2. Electrical & Electronics
- 4.2.3.3. Packaging
- 4.2.3.4. Building & Construction
- 4.2.3.5. Textiles
- 4.2.3.6. Others
- 4.2.4. By Region
- 4.2.4.1. North America
- 4.2.4.2. Europe
- 4.2.4.3. The Asia Pacific
- 4.2.4.4. Latin America
- 4.2.4.5. The Middle East and Africa
5. North America Specialty Carbon Black Market
- 5.1.1. Market Size & Forecast, 2018-2028
- 5.1.2. By Value (USD Billion)
- 5.1.3. By Volume (in Tons)
- 5.2. Market Share & Forecast
- 5.2.1. By Grade
- 5.2.2. By Application
- 5.2.3. By End-User industry
- 5.2.4. By Country
- 5.2.4.1. United States
- 5.2.4.1.1. By Grade
- 5.2.4.1.2. By Application
- 5.2.4.2. Canada
- 5.2.4.2.1. By Grade
- 5.2.4.2.2. By Application
- 5.2.4.2.3. By End-User Industry
6. Europe Specialty Carbon Black Market
- 6.1. Market Size & Forecast, 2018-2028
- 6.1.1. By Value (USD Billion)
- 6.1.2. By Volume (in Tons)
- 6.2. Market Share & Forecast
- 6.2.1. By Grade
- 6.2.2. By Application
- 6.2.3. By End-User industry
- 6.2.4. By Country
- 6.2.4.1. Germany
- 6.2.4.1.1. By Grade
- 6.2.4.1.2. By Application
- 6.2.4.1.3. By End-User Industry
- 6.2.4.2. United Kingdom
- 6.2.4.2.1. By Grade
- 6.2.4.2.2. By Application
- 6.2.4.2.3. By End-User Industry
- 6.2.4.3. Italy
- 6.2.4.3.1. By Grade
- 6.2.4.3.2. By Application
- 6.2.4.3.3. By End-User Industry
- 6.2.4.4. France
- 6.2.4.4.1. By Grade
- 6.2.4.4.2. By Application
- 6.2.4.4.3. By End-User Industry
- 6.2.4.5. Spain
- 6.2.4.5.1. By Grade
- 6.2.4.5.2. By Application
- 6.2.4.5.3. By End-User Industry
- 6.2.4.6. The Netherlands
- 6.2.4.6.1. By Grade
- 6.2.4.6.2. By Application
- 6.2.4.6.3. By End-User Industry
- 6.2.4.7. Belgium
- 6.2.4.7.1. By Grade
- 6.2.4.7.2. By Application
- 6.2.4.7.3. By End-User Industry
- 6.2.4.8. NORDIC Countries
- 6.2.4.8.1. By Grade
- 6.2.4.8.2. By Application
- 6.2.4.8.3. By End-User Industry
- 6.2.4.9. Rest of Europe
- 6.2.4.9.1. By Grade
- 6.2.4.9.2. By Application
- 6.2.4.9.3. By End-User Industry
7. Asia Pacific Specialty Carbon Black Market
- 7.1. Market Size & Forecast, 2018-2028
- 7.1.1. By Value (USD Billion)
- 7.1.2. By Volume (in Tons)
- 7.2. Market Share & Forecast
- 7.2.1. By Grade
- 7.2.2. By Application
- 7.2.3. By End-User industry
- 7.2.3.1. China
- 7.2.3.1.1. By Grade
- 7.2.3.1.2. By Application
- 7.2.3.1.3. By End-User Industry
- 7.2.3.2. India
- 7.2.3.2.1. By Grade
- 7.2.3.2.2. By Application
- 7.2.3.2.3. By End-User Industry
- 7.2.3.3. Japan
- 7.2.3.3.1. By Grade
- 7.2.3.3.2. By Application
- 7.2.3.3.3. By End-User Industry
- 7.2.3.4. South Korea
- 7.2.3.4.1. By Grade
- 7.2.3.4.2. By Application
- 7.2.3.4.3. By End-User Industry
- 7.2.3.5. Australia & New Zealand
- 7.2.3.5.1. By Grade
- 7.2.3.5.2. By Application
- 7.2.3.5.3. By End-User Industry
- 7.2.3.6. Indonesia
- 7.2.3.6.1. By Grade
- 7.2.3.6.2. By Application
- 7.2.3.6.3. By End-User Industry
- 7.2.3.7. Malaysia
- 7.2.3.7.1. By Grade
- 7.2.3.7.2. By Application
- 7.2.3.7.3. By End-User Industry
- 7.2.3.8. Singapore
- 7.2.3.8.1. By Grade
- 7.2.3.8.2. By Application
- 7.2.3.8.3. By End-User Industry
- 7.2.3.9. Philippines
- 7.2.3.9.1. By Grade
- 7.2.3.9.2. By Application
- 7.2.3.9.3. By End-User Industry
- 7.2.3.10. Vietnam
- 7.2.3.10.1. By Grade
- 7.2.3.10.2. By Application
- 7.2.3.10.3. By End-User Industry
- 7.2.3.11. Rest of Asia Pacific
- 7.2.3.11.1. By Grade
- 7.2.3.11.2. By Application
- 7.2.3.11.3. By End-User Industry
8. Latin America Specialty Carbon Black Market
- 8.1. Market Size & Forecast, 2018-2028
- 8.1.1. By Value (USD Billion)
- 8.1.2. By Volume (in Tons)
- 8.2. Market Share & Forecast
- 8.2.1. By Grade
- 8.2.2. By Application
- 8.2.3. By End-User industry
- 8.2.3.1. Brazil
- 8.2.3.1.1. By Grade
- 8.2.3.1.2. By Application
- 8.2.3.1.3. By End-User Industry
- 8.2.3.2. Mexico
- 8.2.3.2.1. By Grade
- 8.2.3.2.2. By Application
- 8.2.3.2.3. By End-User Industry
- 8.2.3.3. Argentina
- 8.2.3.3.1. By Grade
- 8.2.3.3.2. By Application
- 8.2.3.3.3. By End-User Industry
- 8.2.3.4. Peru
- 8.2.3.4.1. By Grade
- 8.2.3.4.2. By Application
- 8.2.3.4.3. By End-User Industry
- 8.2.3.5. Colombia
- 8.2.3.5.1. By Grade
- 8.2.3.5.2. By Application
- 8.2.3.5.3. By End-User Industry
- 8.2.3.6. Rest of Latin America
- 8.2.3.6.1. By Grade
- 8.2.3.6.2. By Application
- 8.2.3.6.3. By End-User Industry
9. Middle East & Africa Specialty Carbon Black Market
- 9.1. Market Size & Forecast, 2018-2028
- 9.1.1. By Value (USD Billion)
- 9.1.2. By Volume (in Tons)
- 9.2. Market Share & Forecast
- 9.2.1. By Grade
- 9.2.2. By Application
- 9.2.3. By End-User industry
- 9.2.3.1. Saudi Arabia
- 9.2.3.1.1. By Grade
- 9.2.3.1.2. By Application
- 9.2.3.1.3. By End-User Industry
- 9.2.3.2. UAE
- 9.2.3.2.1. By Grade
- 9.2.3.2.2. By Application
- 9.2.3.2.3. By End-User Industry
- 9.2.3.3. Qatar
- 9.2.3.3.1. By Grade
- 9.2.3.3.2. By Application
- 9.2.3.3.3. By End-User Industry
- 9.2.3.4. Kuwait
- 9.2.3.4.1. By Grade
- 9.2.3.4.2. By Application
- 9.2.3.4.3. By End-User Industry
- 9.2.3.5. Iran
- 9.2.3.5.1. By Grade
- 9.2.3.5.2. By Application
- 9.2.3.5.3. By Enterprise Size
- 9.2.3.5.4. By End-User Industry
- 9.2.3.6. South Africa
- 9.2.3.6.1. By Grade
- 9.2.3.6.2. By Application
- 9.2.3.6.3. By End-User Industry
- 9.2.3.7. Nigeria
- 9.2.3.7.1. By Grade
- 9.2.3.7.2. By Application
- 9.2.3.7.3. By End-User Industry
- 9.2.3.8. Kenya
- 9.2.3.8.1. By Grade
- 9.2.3.8.2. By Application
- 9.2.3.8.3. By End-User Industry
- 9.2.3.9. Egypt
- 9.2.3.9.1. By Grade
- 9.2.3.9.2. By Application
- 9.2.3.9.3. By End-User Industry
- 9.2.3.10. Morocco
- 9.2.3.10.1. By Grade
- 9.2.3.10.2. By Application
- 9.2.3.10.3. By End-User Industry
- 9.2.3.11. Algeria
- 9.2.3.11.1. By Grade
- 9.2.3.11.2. By Application
- 9.2.3.11.3. By End-User Industry
- 9.2.3.12. Rest of Middle East & Africa
- 9.2.3.12.1. By Grade
- 9.2.3.12.2. By Application
- 9.2.3.12.3. By End-User Industry
10. Competitive Landscape
- 10.1. List of Key Players and Their Offerings
- 10.2. Global Specialty Carbon Black Company Market Share Analysis, 2021
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Covid-19 on Global Specialty Carbon Black Market
12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
- 12.1. OMSK Carbon Group
- 12.2. Tokai Carbon CB Ltd
- 12.3. Atlas Organic Pvt. Ltd
- 12.4. Continental Carbon Company
- 12.5. Aditya Birla Group
- 12.6. Cabot Corporation
- 12.7. International CSRC Investment Holdings Co., Ltd.
- 12.8. Himadri Specialty Chemical Ltd
- 12.9. Phillips Carbon Black Limited
- 12.10. Orion Engineered Carbons GmbH
- 12.11. Mitsubishi Chemical Corporation
- 12.12. Mil-Spec Industries Corporation
- 12.13. Cancarb
- 12.14. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
- 14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumption & Limitation
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable