Global Carbon Black Market size was valued at around USD 13.45 billion in 2021 and the industry is projected to grow about USD 21.85 billion by 2030, growing at a CAGR of 5.5% between 2021 and 2030, reports Global Newswire quoting a report published by Strategic Market Research.
Carbon Black is formed when hydrocarbons like oil and natural gas partially burn or decompose under controlled temperature and pressure. It primarily comprises carbon, with few amounts of oxygen, sulphur, hydrogen, and nitrogen. It is widely used in many industries, like the paint and automotive industries. In tires and other rubber products, it is used as a strengthening agent and filler.
Carbon Black Market Insights:
- On the basis of the process, black furnace segment accounted for the majority of the market share.
- In the year 2021, the standard grade segment ruled the overall carbon black market on the basis of grade.
- On the basis of application, the tire segment will be the fastest-growing market during 2021-2030.
- Geographically, Asia Pacific was the largest regional market in 2021 and contributed for USD 7.15 billion.
Make a Direct Purchase of the latest Carbon Black Market Report published in the month of Sep-2022. Click the below link to initiate the purchase: https://www.strategicmarketresearch.com/buy-now/carbon-black-market
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Source: Globe Newswire