Carbon Black for Packaging Market: Overview
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
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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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.