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.
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, 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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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