Carbon Black Market Overview, Manufacturing Cost Structure Analysis, Growth Opportunities by 2030 Market Industry Reports (MIR) has published a new report titled “Carbon Black Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global carbon black market was valued at over US$ 14.0 Mn in 2018 and is anticipated to grow at a CAGR of 6.7% from 2019 to 2030. The market is driven by rising demand of tires owing to high demand from the automotive industry. Furthermore, rising demand from construction industry is another factor driving the market growth. Asia Pacific region offers huge market potential. Rise in production of tires is the major factor driving the market growth. The tire market is witnessing growth owing to growing automotive industry. Carbon black is use widely as reinforcement additive in tire manufacturing. It helps to enhance the tear-strength, resilience and conductivity and other physical properties of the product. Carbon black is use in tire components such as sidewalls, inner liners and treads. Worldwide, the automotive industry is recovering from the economic crisis. As the automotive industry is witnessing growth, the demand for tire is growing which in turn is driving the market for black carbon. Major Key Players of the Carbon Black Market are: Orion Engineered Carbon, Birla Carbon, Jiangxi Black Cat Carbon Black Co. Ltd, and Birla Carbon are the key players present in this market. Phillips Carbon Black Ltd, Evonik, China Synthetic Rubber Corporation and Nippon are other key players present in this market. Get sample copy of “Carbon Black Market” at: https://www.marketindustryreports.com/pdf/53 In 2018, Asia Pacific accounted for the major share of the market pie. It is projected to maintain its dominance throughout the forecast period. India and China are the driving force behind the growing Asia Pacific carbon black market. The market is witnessing growth owing to rapid industrialization, urbanization, growing automotive industry and infrastructural development. Furthermore, owing to low labor cost and favorable government policies, the major companies are shifting their tire manufacturing base in emerging economies such India, Vietnam and China. Moreover, rising foreign investments is another factor spurring the market growth.
Carbon Black Market by Demand, Growth, Strategic Opportunities and Leading Players Forecast To 2030
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