PUBLISHER: DataM Intelligence | PRODUCT CODE: 1208675
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1208675
The global specialty carbon black market reached US$ XX million in 2022 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 7.2% during the forecast period (2023-2030).
Specialty carbon black, a premium, refined chemical, is created by burning hydrocarbons with a minimal amount of air. The finest form of carbon black, specialty carbon black, also known as pigment black, has the fewest amounts of ash, sulfur, metals and other impurities. Lampblack, thermal black, acetylene black and furnace black are four production methods used to create specialty carbon black.
The increasing demand for batteries globally drives the global specialty carbon black market. However, the availability of substitutes is a significant market restraint.
Increasing demand for batteries globally
The market for electric cars is one of the most active in the clean energy sector. In 2021, the number of electric vehicle (EV) sales doubled from the previous year to reach a new high of 6.6 million. Only 120 000 electric vehicles were sold globally in 2012. More than that, many will be sold each week in 2021. In 2021, the market share for electric vehicles was about 10% worldwide, up from just 2% in 2019. With this, there are over 16.5 million electric vehicles worldwide, three times more than in 2018. With 2 million electric vehicle sales in the first quarter of 2022, a 75% increase over the same time in 2021, the market for electric vehicles has continued to grow rapidly. The data mentioned above is just a speck of the actual number in the growing demand for batteries, as it powers almost all the modern gadgets that connect modernity.
To ensure that the non-conductive active elements are electrically connected and the current collector, specialty carbon black, is utilized in the cathode of modern lithium-ion batteries in modest dosages to create a conductive network. Without the respective coating, the surface of the active material is in a fine network and the battery would not perform as the electrical current would not flow.
Further, Specialty carbon black improves battery rate and capacity, lengthening the battery's lifespan. It offers great chemical inertness and is non-toxic, light and economical. Specialty carbon black additions can significantly impact the anode and cathode composition parameters. The carbon black must be thoroughly disseminated in the slurry in conventional lithium-ion battery formulations, where the active component, conductive additive and binder are combined into a viscous slurry. High-structure carbon black exhibits easier dispersion, which can significantly affect the slurry's viscosity and feasible, solid loading. Slurries with a larger solid content require less solvent, which can considerably increase battery production efficiency. Therefore, the demand for specialty carbon black in the electronics industry is rising exponentially. As a result, the growing demand for batteries globally could be recognized a major market driver for the global specialty carbon black market.
Availability of substitutes
The earth's crustal components, silicon and oxygen, combine to form silica, also referred to as silicon dioxide. Currently, silica has many different applications. Due to an increase in construction projects worldwide in 2021, silica demand soared.
Silica is used in place of specialist carbon black by green tire makers to provide users with environmentally beneficial advantages. Silica is currently employed in manufacturing plastics, electronics and tires as a replacement for specialty carbon black. Since the growing adoption of silica reduces the demand for the specialty carbon black market, it is sensible to say the respective industry is being constrained by silica, one of the main replacements for specialty carbon black. Therefore, the availability of substitutes is a major market restraint.
COVID-19 Impact Analysis
The COVID-19 pandemic had a wide-ranging impact on the worldwide economy. The production of specialty carbon black has been disturbed, as an industrial-scale synthesis of the product requires massive apparatus, industrial-scale chemicals and trained employees. During the epidemic, social distancing regulations and industry lockdowns severely hampered production. Furthermore, it was challenging to get the raw materials required to make specialty carbon black and finished products due to the worldwide COVID-19 pandemic lockdown. As a result, the demand-supply dynamics of the specialty carbon market were adversely affected. The COVID-19 pandemic-related global shutdown also interfered with the production of specialty carbon black and the transport of finished goods. Demand-supply dynamics in the market for specialty carbon market were significantly impacted.
However, despite the COVID-19 pandemic's disruptive effects on businesses all over the world and the other turbulences plaguing the global raw material markets, demand for specialty carbon black is currently surging due to its application in numerous products, including rubber, plastics, batteries, electrodes, paints and coatings, among others use electrical conductive carbon black. Further, the specialty carbon black is mostly employed to boost the durability, tensile strength and resistance to abrasion, friction and corrosion of polymers.
In conclusion, although some international market participants are experiencing feedstock constraints and logistical bottlenecks due to COVID-19 restrictions and lockout measurements, the conductive carbon black market is expected to grow drastically with the growth of EV automotive and plastic products, among others.
The global specialty carbon black market is classified based on form, application and region.
The convenience of tea bags and the desire to eliminate mess are major factors that boost the demand for tea bags in the global specialty carbon black market
The need for packaging materials to better safeguard their contents is growing quickly, notably in the food, beverage and pharmaceutical industries. Concerns concerning plastic's capacity to permit the exchange of gases and vapors that could jeopardize the quality and safety of packaged goods have grown as their use has increased. Unique, safe barrier films and coatings are being introduced to address this. In order to extend product shelf life and offer a visual indication of the status and condition of the product, plastic materials are increasingly being used in active and intelligent packaging. With sales of 20 million tonnes, packaging film was the largest section of the plastic market. Plastic bags and sacks, with total sales of 19.7 million tonnes, were the second-largest market segment for plastic film and the segment will continue to grow in the next five years. In 2021, the plastic applications sector dominated the specialty carbon black market.
In the plastics sector, specialty carbon black is used for various end uses, including agricultural films, plastic pressure pipes, molded components, electrostatic discharge (ESD) plastics, food contact applications in plastics, automotive parts, conductive plastics, wires & cables and more.
Specialty carbon black excels in dispersibility, tinting strength, conductivity and UV resistance. These qualities help polymers meet end-user performance requirements by enabling critical functionality. In addition, its excellent qualities, including strength, color and physical cleanliness UV protection, offer end markets essential value that fuels the segment's growth.
The presence of major players and growing end-user verticals such as construction, automobiles and polymers, among others, allow Asia-Pacific to dominate the regional segment of the global specialty carbon black market
Asia-Pacific leads the industry with more than 45% of the global market share for specialized carbon. A significant reason for the target industry's expansion in the Asia-Pacific region is the rising demand for plastic from the region's construction, automotive, conductive polymers, packaging, coating and packaging industries for various end-use applications.
As China is the world's largest car market, vehicle output will rise from 18,242,588 units in 2021 to 16,976,248 units in 2020. Further, China was responsible for 31% of the world's plastic output, which is produced in Asia-Pacific. The relevant facts stimulate the demand for specialty carbon on the black market.
Furthermore, expanding polymer manufacturing in the major Asian economies such as China, Vietnam, Thailand, India, Malaysia and South Korea is projected to spur regional market expansion during the coming several years.
Asia-Pacific's rapidly expanding paint and coatings industry is anticipated to fuel the need for specialty carbon black throughout the projected period. Another element that will soon contribute to the expansion of the Asia-Pacific specialty carbon black market is the existence of important operating players in the region, Birla Carbon, Himadri Speciality Chemical Ltd, among others.
The global specialty carbon black market is enormous and is becoming increasingly competitive due to the presence of significant players such as Mitsubishi Chemical Corporation, Denka Company Limited, Cabot Corporation, Imerys S.A., Phillips Carbon Black Limited, Lion Specialty Chemicals Co., Ltd., Tokai Carbon Co., Ltd., Birla Carbon, Ampacet Corporation and Himadri Speciality Chemical Ltd. The market is fragmented and market players employ market tactics such as mergers, acquisitions, product launches, contributions and collaborations to gain a competitive advantage and recognition.
Overview: Birla Carbon manufactures and sells high-quality carbon black as one of its most popular products. The firm has 16 manufacturing facilities spread across 12 different countries with a combined annual capacity of 2 million tonnes.
Birla Carbon has a wide range of specialty blacks to meet the specific needs of rubber, plastics, coatings, inks and other specialized sectors. The corporation, which sells goods to consumers in the Tires, Rubber, Plastics, Inks and Paints sectors, is well known for its extensive manufacturing footprint, significant production capacity and first-rate supply and distribution networks. The two Birla Carbon campuses in U.S. and India have cutting-edge technology centers with well-stocked labs and R&D capabilities.
The global Specialty Carbon Black market report would provide approximately 53 tables, 48 figures and almost 163 pages.
Target Audience 2023
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