Specialty Carbon Black Market Analysis Report By Grade, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global specialty carbon black market size was worth USD 2.0 billion in 2019. The market is projected to register a CAGR of 8.9% over the forecast duration, 2020 to 2027. Growing demand for the product in belts, tires, molding plastic, and hoses as a reinforcing agent is projected to drive the market growth. In addition, the product is used in conductive polymer to improve its conductivity. Countries such as India, Brazil, China, and Mexico are witnessing considerable growth in their GDP and industrial output. Therefore, economic developments have resulted in increased demand for battery electrodes, as a result, proliferating market growth.

Growing preferences among consumers for lightweight and fuel-efficient vehicles are anticipated to bode well for the growth of the market. Specialty carbon black helps in providing antistatic and conductivity properties to plastic materials, ranging from insulation to highly conductive materials. This factor is also estimated to supplement the growth of the market owing to the varied application of plastic materials.

Specialty carbon is a versatile component for non-rubber applications. Depending on the product requirement, carbon black is selected. It is increasingly used in fiber, cable, and molding. Plastic is used in various applications such as construction, automotive, paints & coating, and packaging. Plastic properties such as corrosion resistance, low maintenance, and flexibility make it ideal for these applications. In addition, growing demand for laptops, music players, fax machines,s, and tablets are likely to supplement the demand for plastic, which in turn is expected to drive the market growth.

Grade Insights

Based on the grade, the conductive grade segment accounted for the highest share in the specialty carbon black market with more than 28.0% in 2019. This product is increasingly used in the manufacturing of paints, conductive polymers, and printing inks. The rise in the demand for lithium-ion batteries owing to their excellent properties is projected to fuel the segment growth over the forecast duration.

The demand for paints & coating is projected to be driven owing to the rapid rise in the end-use industries such as automotive, consumer goods, and architecture. In addition, the growing manufacturing sector in emerging countries is projected to accelerate market growth over the next few years. The Asia Pacific is the leading consumer and manufacturer of polymers.

The use of fiber grade is popular in the textile industry to manufacture PP masterbatches, synthetic fibers, and polyester fiber. Growth in the textile industry in the Asia Pacific is a key factor estimated to drive the segment growth over the forecast duration. In addition, European countries such as France and the U.K. are projected to witness robust growth in their textile industry.

Regional Insights

In 2019, Asia Pacific held the largest share in the specialty carbon black market and accounted for more than 46.0% by volume. Further, the region is projected to register the maximum growth over the forecast duration owing to the increasing adoption of sustainable and recyclable products. Asian countries like India, China, Thailand, and Vietnam are anticipated to register the increased demand for the product over the next few years.

The growth of the automotive sector has positively affected the diverse sectors both upstream and downstream. Countries such as India, Southeast Asian countries, and China are witnessing the rise in the establishment of new automotive plants, which in turn, is projected to fuel market growth. 

COVID-19 Impact Analysis

The global specialty carbon black market has been negatively affected owing to the outbreak of COVID-19. The pandemic has caused a significant gap in supply and demand. To arrest the spread of the pandemic, governments across the globe have taken several measures such as closing industrial operations and manufacturing units. The closure of several industrial operations has significantly affected the production of automotive parts, which in turn, has restrained the growth of the market. However, the market is estimated to witness recovery over the forecast duration owing to the reopening of industrial operations.

Specialty Carbon Black Market Share Insights

Owing to the presence of leading international players such as Mitsubishi, Tokai Carbon, Cabot Corporation, and Birla Carbon, the market is concentrated in nature. In addition, chemical firms like Sid Richardson, Mitsubishi, and Evonik Industries are integrated throughout the value chain. Key players are focusing on strategic initiatives such as mergers & acquisitions and new product development to strengthen their market presence. For example, Aditya Birla Group acquired the U.S.-based carbon black producer Columbian Chemicals in 2017. Key market players are Tokai Carbon Co. Ltd., Cabot Corp., Omsk Carbon Group, and Birla Carbon among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global specialty carbon black market report on the basis of grade and region:

• Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Conductive Carbon Black
        • Conductive Polymers
        • Paints & Coatings
        • Battery Electrodes
        • Printing Inks
        • Others
    • Fiber Carbon Black
        • Polyester Fiber
        • PP Masterbatches
        • Nylon Textiles
        • Other Synthetic Fibers
    • Food Contact Carbon Black
        • Packaging
        • Film & Sheet
        • Consumer Molded Parts
        • Others
    • Other Carbon Black

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • Germany
        • France
        • The U.K.
        • Italy
        • Russia
    • The Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Southeast Asia
    • Latin America
        • Mexico
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • UAE
        • South Africa