Lucintel Forecasts Carbon Black Market to Reach $22.8 Billion by 2025
- April 09th, 2022
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Dallas, TX / CRWE PRESS RELEASE / April 09, 2022 - According to the recent study the carbon black market is projected to reach an estimated $22.8 billion by 2025 from $18.0 billion in 2019, at a CAGR of 4% from 2020 to 2025. Growth in this market is primarily driven by increasing tire production and growth in plastic and coating market.
Browse 153 figures / charts and 137 tables in this 247-page report to understand trends, opportunities and forecast in carbon blacks market by application (tire rubber, non-tire rubber, plastic, ink, coating, and others), end use industry (transportation, industrial, building and construction, printing and packaging, and others), grade (commodity carbon black and specialty carbon black), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Tire rubber market is expected to remain the largest segment during the forecast period.”
Based on application, the carbon black market is segmented into tire rubber, non-tire rubber, plastic, ink, coating, and others. Lucintel forecasts that the tire rubber market is expected to remain the largest segment, supported by increasing demand for passenger cars and light commercial vehicles and plastic is expected to witness the highest growth over the forecast period due to growth in the plastic pipes, wire and cable, and packaging market.
“Within the carbon black market, the transportation segment is expected to remain the largest end use industry”
Based on end use industry, the transportation segment is expected to witness the largest segment, supported by increasing demand for the tire and mechanical rubber goods. Packaging end use is likely to experience the highest growth in the forecast period, supported by growth in the food and beverages, household products, personal care, and pharmaceuticals sectors
“Asia Pacific will dominate the carbon black market in near future”
Asia Pacific is expected to be the largest region with the highest growth over the forecast period, supported by higher vehicle production and shift of tire production in low-cost countries, such as India and China.
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Major players of carbon blacks market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Birla Carbon, Cabot Corporation, China Synthetic Rubber (CSR), Orion Engineered Carbons Holdings, OMSK Carbon Group, Tokai Carbon, Philips Carbon Black, and Sid Richardson Carbon & Energy are among the major carbon blacks providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-black-market.aspx or email@example.com