Market Scope
The Carbon Black Market is predicted to reach a valuation of USD 17.23 billion by 2023. It can register a CAGR of 4.59% over the forecast period.
The burgeoning transportation and construction sectors in the economies of China, India, and Brazil can induce the demand for carbon black. The scope for the material in tire manufacturing paints coatings, and plastics is expected to drive the market growth. The automotive aftermarket and construction sectors are likely to boost the market demand.
But alternatives to carbon black such as wet silica can threaten the market growth.
Regional Analysis
APAC held the largest market share due to production companies of carbon black in Japan, South Korea, China, and India. The regional carbon black market value can touch USD 9,242 million by 2023. Rapid urbanization and changes in policies can give the local industry the necessary kickstart and induce demand for the chemical.
Competition Outlook
ChemChina, OCI COMPANY Ltd., Phillips Carbon Black Ltd., Tokai Carbon Co., Ltd., Longxing Chemical, Shijiazhuang Xinxing Chemical Carbon Co. Ltd., Orion Engineered Carbons, Jiangxi Black Cat Carbon Black Inc., Ltd., Himadri Speciality Chemical Ltd., Suzhou Baohua Carbon Black Co., Ltd., Hebei Daguangming Juwuba Carbon Black Co. Ltd., NIPPON STEEL SUMIKIN CHEMICAL CO., LTD., Sid Richardson Carbon and Energy Co. Ltd., Mitsubishi Chemical Corporation, Shandong Huadong Rubber Materials Co., Ltd., Kremenchuk Carbon Black Plant, Cabot Corporation, and JINNENG are key players of the global carbon black market.
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Segmentation
The global carbon black market is segmented by type, function, and end use.
By function, it is divided into reinforcement and pigments.
End uses of carbon black comprise paint coatings, plastics, tire, non-tire, inks, and others. The tire segment can lead the global market owing to the growth of the transportation sector and the growing trade exchange between countries.
https://www.openpr.com/news/2778058/plastic-antioxidants-market-analysis-recent-developments
https://www.openpr.com/news/2778130/specialty-carbon-black-industry-2022-is-booming-worldwide
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