Global Specialty Carbon Black Market is anticipate to exhibit 4.5%
CAGR from 2019 to 2027
Carbon black has remained a key ingredient in the several industries ranging from
the automobile to printing sector. However, an increasing demand for high-tech
products is currently asking for more innovation in the global market. The increasing
requirement for specialty carbon black is growing constantly as the consumers
preference are constantly changing. The global specialty carbon black market is
projected to exhibit an impressive CAGR of 4.5% during the mentioned period of
forecast of 2019 to 2027.
Increasing Demand for Lithium-ion Batteries to Push Development of Asia
In terms of geographical landscape, there are five main regional segments of the
global specialty carbon black market. These segments are Europe, Asia Pacific, North
America, the Middle East and Africa, and Latin America. Of these segments, the
global specialty carbon market is presently dominated by the region of Asia Pacific.
In 2018, the regional segment accounted for around 45% of total share of the
specialty carbon black market. This trend is projected to continue for the given
projection period of 2019 to 2027. The development of the regional segment of Asia
Pacific is mainly due to the developments occurring in the developing economies
such as China, Indonesia, and India. These nations are presently witnessing an eye-
catching demand for different application such as cables, wires, and wires, cables,
and other conductive plastic appliances and devices due to significant developments
in the construction industry. Due to the outstanding conductive features of specialty
carbon black, it has become a popular additive preference for such applications.
Naturally, it has aided in pushing the growth of the market in Asia Pacific.
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Additionally, in recent years, there has been significant growth in the requirem