Market Dynamics:
The major drivers fueling the growth of the carbon black market are rising demand from tire and rubber industries as carbon black helps to improve the strength and durability of tires. According to Coherent Market Insights analysis, the global tire market was valued at US$ 315.6 Bn in 2023 and is expected to grow at a CAGR of 4.5% during the forecast period. Thus, the increasing tire production is expected to propel the demand for carbon black. Another factor fueling the market growth is the rising use of carbon black in plastics where it helps to improve the tensile strength and resistance of plastics. Carbon black enhances the conductivity and appearance of plastics without altering its mechanical properties. The increasing use of plastics in packaging, automotive, consumer goods and other industries is further augmenting the demand for carbon black. However, stringent regulations pertaining to carbon black emissions during production may hamper the market growth.

Key Takeaways:

The Global Carbon Black Market Size is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing demand from the automotive and rubber industries. Growing vehicle ownership, industrialization, and infrastructural developments in emerging economies are fueling market growth.

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