Carbon Black Market is Booming with Strong Growth Prospects | Phillips Carbon Black Limited, Mitsubishi Chemical Holdings, Birla Carbon Public Company Limited, Cabot Corporation, Tokai carbon co. Ltd.

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Carbon Black Global Market Report 2023 identifies growing automotive industry as the major driver for the carbon black market's growth in the forecast period. Black carbon is widely used for making the inner liners, sidewalls, and treads of tires as it increases the strength and longevity of tires. Carbon black is used in the automobile industry to improve the processing, strength, and durability of tires and also improve tire performance.
The global carbon black market size grew from $16.5 billion in 2022 to $17.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The carbon black market size is expected to grow to $23.39 billion in 2027 at a CAGR of 6.9%.

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Major competitors in the carbon black market are Phillips Carbon Black Limited, Mitsubishi Chemical Holdings, Birla Carbon Public Company Limited, Cabot Corporation, Tokai carbon co. Ltd., Omsk carbon Group, Jiangxi Black Cat Carbon Black Co. Ltd., BASF SE, Dow Inc., Nouryon, DCL Corporation, Asahi Carbon Co. Ltd., OCI Company Ltd., China Synthetic Rubber Corp., Sid Richardson Carbon & Energy Co., Himadri Speciality Chemical Limited, and Asahi Carbon Co. Ltd.

A key trend in the carbon black market includes Strategic partnerships. The companies operating in the black carbon market are collaborating on the production of black carbon for their industrial uses. For instance, in December 2021, Monolith, a US-based firm that manufactures carbon black products, partnered with Goodyear, a US-based company manufacturing tires and rubber. With this partnership, Monolith aims to start its construction on the expanded Olive Creek facility and will produce 194,000 tons of cleanly made carbon black by 2025. Furthermore, in April 2022, Origin Materials Inc., a US-based carbon-negative materials company, partnered with Mitsubishi Chemical Holdings Group (MCHG), a Japan-based company manufacturing carbon black. This collaboration creates cutting-edge carbon materials for tire manufacture, allowing for the adoption of the original technology and assisting in the shift to sustainable materials in the automobile sector.

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The carbon black market is segmented -
• By Type: Furnace Black, Channel Black, Thermal Black, Acetylene Black, Other Types
• By Grade: Standard Grade, Specialty Grade
• By Application: Tire, Non-Tire Rubber, Inks and Coating, Plastic, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the carbon black market.

The Business Research Company's "Global Carbon Black Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Carbon Black Market Include:
1. Executive Summary
2. Carbon Black Market Characteristics
3. Carbon Black Market Trends And Strategies
4. Carbon Black Market - Macro Economic Scenario
5. Carbon Black Market Size And Growth
…………….
26. Africa Carbon Black Market
27. Carbon Black Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Carbon Black Market
29. Carbon Black Market Future Outlook and Potential Analysis
30. Appendix

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