Stratview, an overseas market research agency, released a report that reviewed the current status of the global special carbon black market.
It is predicted that from 2020 to 2025, the size of the special carbon black market will climb at a compound annual growth rate.
The growing demand for plastics, paints and coatings in the construction, packaging and automotive industries is a major factor driving demand for specialty carbon blacks in the global market.
It is reported that special carbon black is the purest form of carbon black, with very low levels of metals, sulfur, ash or any impurities.
The function of specialty carbon blacks is to provide protection against electrical conductivity, UV protection, and other factors.
Based on its production or processing technology, it is divided into furnace black, lamp smoke black, acetylene black, and thermal black.
According to the type of application, the special carbon black market is subdivided into plastics, inks, coatings and so on.
Plastics applications dominate the market for specialty carbon blacks and are expected to remain the main application areas during the forecast period.
It is expected that during this forecast period, the growth of specialty carbon blacks in plastic applications will also be the highest.
From a regional perspective, the Asia-Pacific region will remain the world's largest specialty carbon black market during the forecast period.
The region's rapid economic development and growing disposable income have led to the expansion of end-use industries such as construction, automotive, food and beverage, personal care, and medical.
These factors are driving the Asia-Pacific region to dominate the global specialty carbon black market.