Carbon Black Market - Forecast(2021 - 2026)
Carbon Black Market Overview: According to the International Trade Centre (ITC), the global trade of tires was gauged to be $82.214 billion in 2018, with an annual growth rate of 7% between 2017 and 2018. Carbon black is used as a filler in tires as it is a rubber reinforcing agent. The growing trade of tires worldwide is offering opportunities to the players in the carbon black market that observed a lucrative valuation of $15.56 billion as of 2018. Furthermore, the application of carbon black in various products for rubber reinforcement and coloring is estimated to escalate at a healthy CAGR of 5.65% during the forecast period 2019-2025. Request Sample Owing to the growth of the automotive industry in APAC countries such as China, India, and Indonesia, the carbon black market is observing lucrative prospects in the region. China houses the world's largest automotive industry, which becomes a major carbon black marketplace. Furthermore, the construction industry in India is witne