Carbon Black Market to Reach $13.79 Billion by 2021
Carbon black products usage in several end-use industries.
The carbon black market size is projected to reach $13.79 billion by 2021, at a compound annual growth rate (CAGR) of 4.6% between 2016 and 2021. Carbon black products usage in several end-use industries, including tire, rubber, plastic, inks and coatings, construction, metallurgy, resin coloring, and paint, with Asia-Pacific is estimated to be fastest-growing market according to the statement.
The furnace black segment is projected to witness high growth during the forecast period as well. Reportedly, this segment accounts for almost 80% of the total carbon black produced. Growth in furnace black consumption is suggested to be driven by the growing demand from automobile and tire industries.