Research Nester published a report titled “Specialty Carbon Black Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global specialty carbon black market in terms of market segmentation by form, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global specialty carbon black market is anticipated to grow with a CAGR of 4.3% over the forecast period, i.e., 2022-2031. The market is segmented by form into granules, and powder. Out of these segments, the granules segment is anticipated to garner the largest revenue by the end of 2031. Further, the powder segment is expected to grow at a highest CAGR of 4.8% over the forecast period.
The global specialty carbon black market is estimated to garner a revenue of USD 4,519.34 Million by the end of 2031, up from a revenue of USD 2,990.54 Million in the year 2021. Increasing demand for tires, new pigment formulation trends, and long-term sustainability initiatives are some of the major factors expected to boost the market growth.
Geographically, the global specialty carbon black market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Amongst these regions, the market in Asia Pacific region is estimated to hold the largest revenue of USD 1,945.22 Million. Additionally, in the year 2021, the market in this region generated revenue of USD 1,268.54 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand for Tires to Drive the Market Growth
By 2023, a 7-9% increase in the demand for domestic tires is expected. Carbon black is used to create majority of tires globally. The chemical compound protects the tire from UV light and ozone, two elements that have been shown to speed up tire deterioration. Furthermore, a more reliable drive is produced since carbon black hardens the rubber. With the growing demand for vehicles, the demand for tires is also expected to increase, thereby contributing to the demand for specialty carbon black. Such a factor is anticipated to drive the market growth.
However, scarcity of raw material, high GHG emissions from specialty carbon black manufacturing, and highly consolidated specialty carbon black market which are expected to operate as key restraint to the growth of global specialty carbon black market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global specialty carbon black market which includes company profiling of Orion Engineered Carbons GmbH, Cabot Corporation, Birla Carbon, Imerys, Tokai Carbon Co., Ltd., Mitsubishi Holding Chemicals Corporation, Denka Company Limited, PCBL, Lion Specialty Chemicals Co. Ltd., Himadri Speciality Chemical Ltd., Continental Carbon Company, Asbury Carbons, Black Bear Carbon B.V., Omsk Carbon Group, Ralson Tyres, OCI Company Ltd., and Asahi Carbon Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global specialty carbon black market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.