Burnaby, British Columbia, Canada, October 09, 2015 --(PR.com
)-- According to TechSci Research report “Global Specialty Carbon Black Market Forecast & Opportunities, 2020,” global specialty carbon black market is anticipated to grow at a CAGR of over 6% during 2015 - 2020. Specialty carbon black, also known as pigment black, is used to impart distinctive characteristics in specialized end user applications. Specialty carbon black finds majority application in plastics, printing inks and paints & coatings industry for pigmentation and imparting desired properties such as UV protection and conductivity. The global specialty carbon black market is dominated by three major players - Orion Engineered Carbons, Cabot Corporation and Birla Carbon, which roughly control about two-thirds of the market. Other major market players include China Synthetic Rubber Corporation, Zaozhuang Xinyuan Chemical Industry Co. Ltd., Sid Richardson Carbon & Energy Co. and Tokai Carbon Co. Ltd., among others.
The report reveals that plastics industry accounts for a lion’s share in the global market for specialty carbon black.Expanding infrastructure, construction and automotive industries across the globe is projected to drive demand for processed plastic products as well as paints and coatings, which are forecast to boost demand for specialty carbon black over the next five years.Asia-Pacific is the largest regional market for specialty carbon black market in the world and the region is forecast to continue dominance due to increasing demand from manufacturing sector in emerging economies.
“Global specialty carbon black market is projected to grow over the next five years on the back of increasing demand from plastics, and paints & coatings industry. Specialty carbon black demand from printing inks industry is anticipated to slow down due to declining demand from publishing sector and increasing penetration of digital media. However, surging demand from packaging sector and emerging applications such as fuel cell and lithium ion batteries is forecast to counterbalance the effect of declining demand from printing inks segment over the next five years,” said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.