Published on : Dec 06, 2019
The global specialty carbon black market is prophesized to witness considerable during the assessment timeframe. The conventional use of carbon black has for long has been a reinforcing agent in tires. However, today application of carbon black has moved way beyond that, thanks to the unique properties that it comes with. The application of carbon black has expanded to its role as conductive, ultraviolet stabilization, and pigmentation agent, which adds impetus to the global carbon black in coating market. It finds its use in a wide variety of applications including coating, paints, packaging, and others.
Despite ubiquitous presence of carbon black across many industry verticals, there is a relentlessly growing need for highly advanced products, which is stimulating innovation in the global specialty carbon black market. With the growing demand for high value and specialty carbon black coupled with the changing preference of customers, the global specialty carbon black market is set to grow in forthcoming years.
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The global specialty carbon black market has been classified on the basis of form, region, and application in a bid to better insight into the market. Mitsubishi Chemical Corporation, Lion Specialty Chemicals Co. Ltd., Black Bear Carbon B.V, Phillips Carbon Black Limited, Himadri Specialty Chemical Ltd., Orion Engineered Carbons, and are some of well known companies in the global specialty carbon black market.
Expansion of the Construction Industry to Bolster Demand in the Market
The global carbon black in coating market is likely to be fuelled by the amazing properties that carbon black comes with. Capability to produce strong stint and stability against heat render it suitable for coating purposes across many industries. It is strongly believed that size of the particle together with its interaction with light. The global carbon black in coating market has benefitted substantially from the composition of carbon black.
Besides, the feature of excellent absorption of ultraviolet light makes carbon black an ideal coating substance as it protects against ultraviolet degradation, when it is added to other materials. As such, global carbon black in coating market is likely to benefit from such characteristic of carbon black.
Supported by both public and private investments, the rapid expansion of the construction industry in countries like India, Brazil, and China have fuelled the demand for cables and wires worldwide. Specialty carbon finds extensive use as preferred additive for these cables and wires due to its excellent conductive properties, thereby accentuating its demand in the market.
In addition, augmented concerns about the security and safety in various domestic and industrial applications have stimulated demand for electrostatic discharge products worldwide. This is expected to generate considerable demand for specialty carbon black in construction and automobile industries. Such demand is due to the reliability and stability that it offers during operation of specialty carbon black contained electrostatic discharge products.
On the other hand, the price of various raw materials that are needed in the making of specialty carbon black are completely dependent on the prices of high-sulfur fuel oil (HSFO), natural gas, raw coal tar, anthracene oil, and feedstock oil. Volatile price of oil and gas determine the prices of these raw materials, which are needed to produce specialty carbon black.
Low Cost of Production Stimulates Growth of the Market in Asia Pacific
Latin America, Europe, Middle East and Africa, North America, and Asia Pacific are some of the principal regions of the global specialty carbon black market.
Asia Pacific is expected to account for a large chunk of the global specialty carbon black market over the forecast tenure. Low cost of production coupled with relaxed government regulations create conducive environment in growth of the market in the region.
North America specialty carbon black market is likely to witness sluggish growth over the assessment period due to decreased demand from various end-use industries and stringent government regulations.