Specialty Carbon Black Market Size, Share & Trends Analysis Report By Grade (Conductive Carbon Black, Fiber Carbon Black, Food Contact Carbon Black), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global specialty carbon black market size was valued at USD 2.29 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 10.0% in terms of revenue from 2022 to 2030. This is attributed to the increasing demand for the product as reinforcing agents, specifically in tires. Additionally, the growing use of the product in agriculture mulch film, refuse sacks, stretch wrap, and industrial bags are estimated to contribute to the market growth.

Specialty grades such as conductive, fiber, and food cater to end-use industries, such as battery electrodes, conductive polymers, PP masterbatches, paints & coatings, specialty packaging, consumer molded parts, printing inks, polyester fiber, and film & sheets. They have excellent conductivity characteristics, are UV-protective, contain metals, and are low in sulfur and ash. Additionally, specialty carbon blacks are used in a variety of coating applications, including automotive, wood, aerospace, industrial coatings, and marine, to offer UV protection, conductivity, and coloring.

Hoses, bushings, fascia, chassis bumpers, tires, conveyor wheels, grommets, gaskets, vehicles, containers, wiper blades, and others are the goods that utilize specialty carbon black as a reinforcing agent. One of the most important properties of specialty carbon black is its capacity to absorb UV light and convert it to heat, making plastics more UV resistant. Plastics ranging from highly conductive to insulation materials benefit from their antistatic and conductive qualities.

Majorly, carbon black is in the form of black colloidal particles, which are produced via the acetylene black process, lamp black process, and furnace black process, among others. The raw material used for these processes differs between petroleum, coal oil, natural gas, and acetylene gas. Furthermore, the product dynamics are heavily dependent on applications, such as non-tire rubber, electrostatic discharge, packaging, paints & coatings, and printing inks consumption, along with regulations formulated for manufacturing technologies and raw materials used. It provides enhanced viscosity, conductivity, UV protection, and sharp color.

The carbon black manufacturing process emits a large amount of toxic GHG, which is not suitable for the environment and health. Companies are investing in R&D activities to develop their manufacturing processes, which will reduce gas emissions within the permissible limit and improves the quality of their product. Additionally, since carbon black is manufactured by partial combustion of fuels directly affecting the environment and human health, it has come under strict regulations from these agencies. Carbon black, in February 2003, was added to the California Office of Environmental Health Hazard Assessment (OEHHA) list of substances known to the State that cause cancer.

The pandemic of COVID-19 has hit every major sector. Major economies of the world had to impose lockdowns and restrictions to stop the spread of the virus. This adversely impacted all major economies. All industries and manufacturing units were closed, affecting the supply chain. Key countries, including India, Germany, China, and the U.K., witnessed an unfavorable effect on the demand for the product. However, the gradual opening up of various industries led to stable growth of the demand in the worldwide market.

Grade Insights

The global specialty carbon black market has been segmented based on grade into conductive, food, fiber, and other grades, including pyrolytic carbon black, surface oxidized carbon black, and general blacks. Conductive grades are majorly utilized in manufacturing conductive polymers, paints & coatings, and printing inks. Growth of manufacturing sector spending, owing to population expansion coupled with growing demand for polymers is anticipated to drive market growth during the forecast period. Furthermore, conductive grade accounted for 27.60% of the total market share in 2021. Increasing demand for lithium-ion batteries is anticipated to further boost market growth during the forecast period. It is expected to gain market share and accounts for 29.25% by 2030.

Food contact was the largest product segment in 2021, accounting for around 30% of the revenue share. The growing consumption of convenience foods in developing nations is the major driving factor for the growth of the food packaging industry. Visual appeal and convenience are the other two aspects that drive the growth of the food packaging industry. Mounting consumption of packaged food and beverages due to changing consumer lifestyles coupled with rising per capita disposable income is anticipated to drive market growth during the forecast period.

Other grade segment includes conductive and fiber. Increasing demand from other end-use industries, such as consumer goods, architecture, and automotive, is anticipated to drive conductive grade demand. The growing manufacturing sector is anticipated to drive conductive grade consumption during the forecast period.

Regional Insights

Asia Pacific emerged as the fastest-growing market for specialty carbon black with a revenue share of more than 45% in 2021. The growth in this region can be attributed to increasing plastic consumption in major end-use industries, such as construction, automotive, conductive polymers, and packaging. Increasing polymer production in China, India, and Southeast Asian countries, such as South Korea, Thailand, Malaysia, and Vietnam, is anticipated to remain a key driving factor in the regional market growth during the forecast period.

North America occupied a significantly large share within the global specialty carbon black market in 2021. Economic recovery in the U.S. and expanding automotive and commercial building activities are likely to trigger product demand in paints & coatings, molded plastics, and wires & cables. There is substantial demand for food and conductive grade specialty carbon black in North America concerning the growth of polymer and packaged food industries.

The U.S. represented a large market within North America, with the product demand accounting for a share of 74.0% in 2021. The U.S. is home to one of the largest automotive markets in the world. Major automakers have shifted production from other countries to the United States in response to new domestic cost advantages. The United States has become a premier auto industry hub due to its large consumer market, open investment policy, available infrastructure, highly skilled workforce, and government incentives. As a result, the market is expected to benefit from a revitalized automotive sector in the United States.

Europe was the second-largest regional segment in terms of revenue in 2021 and is anticipated to expand with a CAGR of 7.9% in the coming years. This is attributed to the recovery of the overall economy along with strong demand from the textile industry. However, Europe and North America are relatively mature markets, with stagnancy and low growth prospects. Additionally, these regions are highly regulated by many legislations, and manufacturers are required to follow several stringent procedures to ensure the overall sustainability of the product.

Key Companies & Market Share Insights

Market participants are concentrating their efforts on the development of new carbon black with long-term sustainability. Regulatory clearances, product portfolio, pricing, and manufacturing technology are all competitive elements that have a significant impact on market growth.

The specialty black market is concentrated, with few companies accounting for a majority share in the market. Huge capital expansions are taking place in the market, with companies vying for future market share. The initiatives undertaken by companies such as Continental Carbon and Birla Carbon are an indication that the market is expected to grow at a faster rate.

Companies in the Asia Pacific market also focus on increasing their manufacturing capacity, as the demand for packaged food is growing in several countries. Players are also focused on increasing their investments to increase their production capacities to serve the rising global demand for the products. For instance, in January 2019, OMSK Carbon Group installed advanced equipment in the Belarus facility, thus continuing their efforts to start the operations at the new carbon black manufacturing facility at the Belarus Mogilev plant. The company intends to produce approximately 200,000 MT of products per annum and export essential materials to international markets. Some prominent players in the global specialty carbon black market include:

• Omsk Carbon Group

• Tokai Carbon Co., Ltd.

• Atlas Organics Private Limited

• Continental Carbon Company

• Birla Carbon

• Cabot Corporation

• International China Oak Investment Holdings Co., Ltd.

• Himadri Speciality Chemical Ltd

• Philips Carbon Black Limited

• Orion Engineered Carbons GmbH

• Ralson

Specialty Carbon Black Market 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 2018 to 2030. For this study, Grand View Research has segmented the specialty carbon black market report based on grade, and region:

• Grade Outlook (Volume, Thousand Tons; Revenue, USD Million; 2018 - 2030)

  • 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, Thousand Tons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  •  Europe

    • Germany

    • U.K.

    • Italy

    • France

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Southeast Asia

  • Central & South America

    • Brazil

    • Argentina

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

    • UAE