Carbon Black Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)
The carbon black market was valued at 13,000 kiloton in 2021, and it is projected to register a CAGR of more than 2% during the forecast period (2022-2027).
Due to the COVID-19 outbreak in the first half of 2020, the tire and rubber industry was significantly affected. The market is projected to grow steadily as automotive production observed growth in 2021.
Key Highlights· Growth in the adoption of electric cars and self-driving cars is likely to act as an opportunity in the future.
· Asia-Pacific dominated the market worldwide, with the largest consumption from China and India.
Key Market TrendsIncreasing Application of Tires and Industrial Rubber ProductsThe carbon black market is consolidated, with the top 10 players holding more than 61% of the market share. The major companies for the carbon black market include (in no particular order) Cabot Corporation, Birla Carbon, Orion Engineered Carbons SA, Jiangxi Black Cat Carbon Black Co. Ltd, Tokai Carbon Co. Ltd, and China Synthetic Rubber Corporation.
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