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.
Full Research Report On Carbon Black Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/carbon-black-market
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
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/carbon-black-market/request/rs1
Grand View Research has
segmented the global carbon black market on the basis of application and
region:
Carbon Black
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Tire
- High-performance Coatings
- Plastics
- Others
Carbon Black
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- UAE
About Grand View Research
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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