London, Oct. 27, 2022 (GLOBE NEWSWIRE) — The quest for lasting tires for enhanced performance prevails and carbon black continues to play a pivotal role in the tire reinforcement process. Growing application by tire industry remains the key driving force for healthy expansion of carbon black market. Up from the valuation of around US$17.4 Bn registered in 2018, global carbon black market is likely to rise up to US$23.6 Bn toward the end of 2025. Between the years of forecast, 2021 and 2025, the market is expected to witness nearly 6.5% growth as projected by a recent published report of Fairfield Market Research. The report further highlights significant adoption of carbon black as a preferred black pigment, rheology modifier, insulating or conductive agent, and UV stabilizer. The global e-mobility drive that has been creating a boom around electric vehicles will also contribute heavily toward the growth of carbon black market, says the report.
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Key Research Insights
- Tire replacement contributes more than 2/3rd of the global tire demand
- MRG accounts for around 90% of the global carbon black consumption owing to the cost benefit
- In 2019, more than 13.9 MT carbon black was consumed globally, and specialty carbon black represented nearly 8% of it
Insights into Segmental Analysis
Among the three grades of carbon black that are widely consumed by…
