Market Size of Specialty Carbon Black Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Specialty Carbon Black Market Analysis
The Global Specialty Carbon Black Market was valued at around USD 4,310 million in 2021, and the market is projected to register a CAGR of over 7% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the plastic industry was significantly affected. During the pandemic, many industrial, rubber factories, automobile, printing, and packaging operations were shut down. The market is projected to grow steadily as automotive production observes growth in 2021.
- Over the short term, the growing adoption of specialty carbon black in the lithium-ion batteries, coupled with increasing demand for the product in agriculture stretch wrap, mulch film, and refuse sack, are some driving factors stimulating the market demand.
- However, the availability of specialty carbon black substitutes and strict environmental regulations hinder the market's growth.
- Nevertheless, emerging applications for specialty carbon black in metallurgy and the growth of the printing inks & toners industries are likely to create lucrative opportunities for the market over the forecast period.
- The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.
