The global carbon black market size is projected to reach USD 25.95 billion by 2025 expanding at a CAGR of 6.0%, 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.
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https://www.grandviewresearch.com/industry-analysis/carbon-black-market
Further key findings from the study suggest:
- In terms of volume, tires segment is anticipated to register a CAGR of 4.3% from 2019 to 2025 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 2019 to 2025 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
- Some of the key carbon black manufacturers and suppliers include Evonik, Nippon, Mitsubishi, Jiangxi Black Cat Carbon Black Co. Ltd., Philips Carbon Black, and China Synthetic Rubber Corporation
- In May 2018, Cabot Corporation announced that it would be investing in capacity additions of over 300,000 (metric tons/year) of carbon black across its global plants
Grand View Research has segmented the global carbon black market on the basis of application and region:
Carbon Black Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Tire
- High-performance Coatings
- Plastics
- Others
Carbon Black Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- US
- Canada
- Europe
- UK.
- Germany
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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