Carbon Black Market Led To A Lucrative Growth With USD 31.04 Billion By 2030

Author : Bella Kent | Published On : 23 Jan 2024

San Francisco, 23 Jan 2024: The Report Carbon Black Market Size, Share & Trends Analysis Report By Type, By Application (Tire, Non- Tire Rubber, Plastics, Inks & Coatings, Other), By Grade, By Region, And Segment Forecasts, 2024 - 2030

The global carbon black market size is expected to reach USD 31.04 billion by 2030, registering a CAGR of 4.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing tire production on accounted of growing transportation industry is driving the product demand. Carbon black is a highly regulated industry as the manufacturing process is considered harmful owing to the toxic emissions, which have adverse effects on the environment and health. In February 2003, it was added to the California Office of Environmental Health Hazard Assessment (OEHHA) list of substances known to the State that cause cancer.

Major companies in the market are focusing on R&D activities to develop new manufacturing techniques to reduce harmful emissions. Stringent regulations to curb emissions are expected to play a major role in driving the market growth. Emerging countries in Asia Pacific, such as China, Thailand, India, and Indonesia, are projected to generate the maximum product demand in the coming years. Manufacturers in North America and Europe regions are forced to shift their operations to Asian countries owing to low cost in emerging countries. However, recovery in the automotive industry in countries, such as Germany and France, is are anticipated to boost market growth in Europe over the forecast period.

Access Research Report of Carbon Black Market @ https://www.grandviewresearch.com/industry-analysis/carbon-black-market

Carbon Black Market Report Highlights

• Tires emerged as a dominant application segment accounting for 68.8% of the overall revenue share in 2023 due to rise in production of tires as a result of high demand from the automotive industry
• Plastics is anticipated to be the fastest-growing application from 2024 to 2030 owing to its rising application scope in the production of high-performance products
• Stable automotive production and a gradually increasing plastics and rubber manufacturing landscape in Brazil is projected to drive the market in Latin America

Carbon Black Market Report Scope

List of Key Players of Carbon Black Market

• Orion Engineered Carbons Holdings GmbH
• OMSK Carbon Group
• Sid Richardson Carbon & Energy Co.
• Tokai Carbon Co. Ltd.
• Asahi Carbon Co. Ltd.
• Ralson Goodluck Carbon
• Atlas Organic Pvt. Ltd.
• Continental Carbon Co.
• OCI Company Ltd.
• Birla Carbon
• Bridgestone Corp.
• Cabot Corp.
• China Synthetic Rubber Corporation (CSRC)
• Himadri Companies & Industries Ltd. (HCIL)
• Mitsubishi Chemicals
• Nippon Steel & Sumikin Chemical Co. Ltd.
• Jiangxi Black Cat Carbon Black Inc.

Access Press Release of Carbon Black Market @ https://www.grandviewresearch.com/press-release/global-carbon-black-market