Specialty Carbon Black Market Share, Benefits, Business Opportunities and Future Scope Till 2023
“Factors
such as increasing demand for plastic and coating in the construction and building,
automotive, and packaging industries, rising disposable income and increasing demand from enduser industry are likely to drive the specialty carbon black market in the forthcoming period.”
Global specialty carbon black market is anticipated to witness an exponential growth in the forecast period. Specialty carbon black, also termed as “Pigment Black”, is a high-end refined chemical factory-made by burning hydrocarbons in the limited air supply. It is the purest form of carbon black with a lesser level of sulfur, ash, and metals along with other impurities. Factors such as increasing demand for plastic and coating in the construction and building, automotive, and packaging industries, rising disposable income and increasing demand from end-user industry are likely to drive the specialty carbon black market in the forthcoming period. On the other hand, silica is one of the key alternatives owing to the fact that it offers eco-friendly benefits, and volatility of raw material prices and environmental concerns are anticipated to hinder the market growth in future. However, technological advancement is likely to create lucrative opportunities for the market. The emerging trend in the specialty carbon black market is directly influencing the dynamics of the specialty carbon black manufacturing, comprising the shifting attention of carbon black suppliers from commodity to specialty grade and growing usage of specialty carbon black as a pigment in lightweight automotive parts. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/specialty-carbon-black-market-outlook