Carbon Black Market Share

The market growth is driven by the increased use of carbon black in the automotive and cosmetic industries.

WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ -- According to a report by Allied Market Research, the global carbon black market was worth $17.50 billion in 2018 and is projected to reach $23.0 billion by 2026, with a Compound Annual Growth Rate (CAGR) of 3.5% from 2019 to 2026.

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The market growth is driven by the increased use of carbon black in the automotive and cosmetic industries. However, stringent guidelines on the use of carbon black hinder market growth. The need for green alternatives presents opportunities for growth in the coming years.

The market is segmented based on process, grade, application, and geography. The furnace black segment is expected to register the fastest CAGR of 4.2% during the forecast period. Specialty grade carbon black is anticipated to portray the highest CAGR of 3.6%. In terms of application, tires and coatings account for a significant share of the market.

The Asia-Pacific region contributed to three-fifths of the market in 2018 and is projected to register the fastest CAGR of 4.0% during the forecast period.

Key players in the global carbon black market include SABIC, Asahi Carbon Co., Ltd., Cabot Corporation, Dow Inc., Birla Carbon Public Company Limited, Nouryon, Mitsubishi Chemical Holdings, Dominion Colour Corporation, Phillips Carbon Black Limited, and BASF SE.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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