Carbon black has been in use as an additive in manufacturing of conductive polymers, accounting for the largest market share, by additive type, in the global conductive polymer market. However, a new intelligence report of Future Market Insights suggests that the carbon black for packaging market is particularly observing gradual growth in revenue over the recent past and will continue to witness a similar scenario during the forecast period.
Towards the end of 2028, bags are likely to account for almost a third of the total estimated market value, according to the report.
Among material types, polyethylene and polypropylene are currently leading with a collective revenue share of more than 55% in the carbon black for packaging market.
Electrical and Electronics Products Sales Sustains Carbon Black Consumption Level, for Packaging Applications
Increasing consumption of electrical and electronic devices will continue to sustain consumption of carbon black for packaging applications in the near future. The report delivers key insights on the carbon black for packaging market and forecasts a sluggish below-3% CAGR for the revenue growth over 2018-2028.
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The primary demand for carbon black for packaging is generated from the electrical & electronics industry, which is expected to grow further in the next 4-5 years. With increasing consumption of products that are highly prone to ESD (electrostatic discharge), bags will be the dominating application segment in global carbon black for packaging market.
Technical Incompatibility Continues to Challenge Market Growth
Some of the major challenges facing the global carbon black for packaging market are technical incompatibilities of small-scale companies to manufacture conductive compounds. Compounding of carbon black and polymer materials is a complicated process and requires special attention during production. It involves high technical capabilities and resources to produce carbon black and polymer compounds. Also, chemical properties of carbon black tend to hamper the mechanical properties of sensitive electrical and electronic components which, in turn, may contribute to the declining demand for carbon black for packaging applications.
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Distributors of Carbon Black for Packaging Applications to Remain Key Members of Value Chain
While some of the major manufacturers such as Philips Carbon Black Limited, Orion Engineered Carbons, Cabot Corporation, and Birla Carbon continue to dominate the carbon black for packaging market, the competition in the carbon black for packaging landscape is expected to intensify in the near future as several local players strengthen their focus on emerging economies such as India, China, and Brazil. Leading carbon black companies are also planning to expand their market presence in multiple regional markets to leverage the opportunity generated from different end-use applications.
The top companies in the carbon black for packaging market are promoting their carbon black and related products through a large distribution base. Manufacturers on the other side are enhancing their global prominence by expanding their market footprint in multiple countries via stronger distribution networks. Distributors will thus remain the key members of the value chain in global carbon black for packaging market. A strong worldwide network of local distributors and channel partners will also enable key market players to leverage their knowledge of local market trends to enhance global market footprint.
For additional insights on the forecast analysis of global carbon black for packaging market over 2018-2028, write to firstname.lastname@example.org