The market for carbon black in packaging is anticipated to reach a value of US$ 269.4 million by 2033, rising to US$ 201.4 million in 2023. As a result, it is anticipated that over the forecast period, sales of carbon black for packaging would increase at a CAGR of 2.9%.
However, according to a new intelligence analysis from Future Market Insights, the carbon black for packaging market has been steadily increasing in revenue in recent years and will continue to do so during the projection period.
According to FMI, the market value for carbon black used in packaging is expected to exceed US$ 190 Mn by the end of 2021. The main market participants in the carbon black for packaging sector are Smurfit Kappa Group, Sealed Air Corporation, DS Smith Plc, Pregis Corporation, and Achilles Corporation. In terms of sales, they account for one-fourth of the market share overall.
Bags are expected to account for about a third of the total predicted market value by the end of 2028, according to the analysis. In the carbon black for packaging industry, polyethylene and polypropylene are now leading with a combined revenue share of more than 55 percent.
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In its most current edition of the study, Future Market Insights (FMI) delivers in-depth insights on the global carbon black for the packaging market. According to the analysis, the market would rise by 3.2 percent year over year in 2021, reaching 148,844 tonnes.
The increase can be linked to rising demand for electrical and electronic product packaging. Due to rising demand for recyclable packaging in Germany, the United Kingdom, and other nations, the Europe market is expected to rise at a 3 percent CAGR.
Electrical and Electronics Products Sales Sustains Carbon Black Consumption Level, for Packaging Applications
Increasing consumption of electrical and electronic devices will continue to sustain the 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 2.9% CAGR for revenue growth over 2021-2031.
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.
Key Companies Covered-
Phillips Carbon Black Limited Birla Carbon U.S.A., Inc. Continental Carbon India Limited Cabot CorporationTokai Carbon Group (Cancarb)Sealed Air CorporationPregis CorporationDS Smith PlcAchilles CorporationDelphon Industries, LLCSmurfit Kappa GroupStoropack Hans Reichenecker GmbHDesco Industries Inc.Nefab GroupTeknis Limited, Elcom (UK) Ltd.GWP Group LimitedInternational Plastics Inc.AUER Packaging GmbHPure-Stat Engineered Technologies, Inc.Protective Packaging Corporation.
Global Carbon Black for Packaging Market Segmentation
By Material Type:
- Acrylonitrile Butadiene Styrene (ABS)
- Polyvinyl Chloride
- Polycarbonate
- Polyethylene
- Polypropylene
- Polyamide
- Styrene Acrylonitrile (SAN)
- Other Plastics
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By Application Type:
- Bags
- Trays
- Clamshells
- Shrink Films
- Boxes & Containers
- Tapes & Labels
- Foams
- Totes/IBC
- Racks
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
