Riding on the back of its demand from the electrical and electronic devices industry, the global carbon black for packaging market is expected to exhibit steady growth during the period of forecast, from 2019 to 2027. Carbon black is resistant to chemicals, lightweight, and easy to be utilized in making conductive substances.
The global carbon black for packaging market has been segmented on the basis of material type, application, and region. On the basis of application, the market is categorized into bags, trays, clamshells, shrink films, boxes and containers, tapes and labels, foams, totes/IBC, and racks.
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Carbon Black for Packaging Market: Notable Developments
One of the key developments shaping the dynamics of the global carbon black for packaging market is discussed below:
- Tokai Carbon Co. Ltd., Japan-based carbon black firm, has acquired Sid Richardson Carbon Ltd. in 2018. The latter had been a leading carbon black supplier in the U.S. The acquisition comprised Sid Richardson and two of its affiliated companies. Tokai Carbon Co. Ltd. intends to expand its carbon black business in the years to come. This strategic move by Tokai Carbon Co. Ltd is expected to support the expansion plans of the company in North America, one of the largest markets in the world. Thus, it is likely the carbon black for packaging will experience new growth opportunities with the advent of the Japanese company.
Some of the leading market vendors of the global carbon black for packaging market are as follows
- Phillips Carbon Black Limited
- Continental Carbon India Limited
- Storopack Hans Reichenecker GmbH
- Tokai Carbon Group (Cancarb)
- Cabot Corporation
- Birla Carbon U.S.A., Inc.
- Pregis Corporation
- Smurfit Kappa Group
Carbon Black for Packaging Market: Key Trends
The global carbon black for packaging market is likely to show the following trends and opportunities during the forecast timeframe.
Rise in Demand for Electronic and Electrical Devices to Propel Growth for Market
Growing consumption of electronic and electrical gadgets is likely to sustain the use of carbon black for packaging solutions in years to come. The category of bags will likely dominate the application segment of the carbon black for packaging market during the forecast period. Such dominance is owing to the rising consumption of products that are prone to electrostatic discharge (ESD). Manufacturers of carbon black for packaging are shifting their focus on the production of ESD protective packaging as it has proved to be highly beneficial for them.
Manufacturing plastics are another important area of application for the makers of specialty carbon black and it holds almost 50% of the total global carbon black for packaging market. The trend of capacity expansion has emerged as a major trend in the market and the same is likely to grow during the forecast period.
The global carbon black for packaging market is expected to gain traction from the relentless research and development activities that are carried out by various manufacturers. They are making large investments for the development of new carbon black products that come with less impurities, good dispersibility, and slight absorption of water.
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Carbon Black for Packaging Market: Geographical Analysis
From the regional point of view, the global carbon black for packaging market has been divided into the regions of South America, Asia Pacific, the Middle East and Africa, Europe, and North America.
At present, Asia Pacific dominates the global carbon black for packaging market and the region accounts for almost half of the total market, in terms of value. The developments in the Asia Pacific market are driven by China. The country is expected to be a prominent accelerator of growth of the regional market during the forecast period, thanks to the rising consumption and production of electronic and electrical devices. However, despite being a leading country for the carbon black for packaging market, the country is likely to witness sluggish growth over the period of assessment. Presence of some of the leading manufacturers of carbon black in India, such as Continental Carbon Company and Philips Carbon Black Limited is likely to bolster prospects of Asia Pacific.
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