Automotive Growth and Infrastructure Boom in Asia and South America Driving the Growth of Demand for Carbon Black to Reach 20 million MTs by 2022
Industry Experts has today released the new market research report on carbon black. The new report ‘ Carbon Black – A Global Market Overview ’ reveals that Asia-Pacific is estimated to be the largest market with 7.9 million metric tons and US$8.1 billion in 2016 respectively for volume consumption and market value. The region is also expected to be the fastest growing market with CAGRs for volume and value respectively 6.3% and 6.8% during 2016-2022 while South America closely follows with CAGRs of 5.3% and 5.5% for the same period. Volume demand for carbon black has a direct association with the end use industries, with the automotive industry taking precedence, given that the largest quantity of this material is utilized by tires and other rubber products largely used in automobiles. Any volatility in the production of tires and, to a lower degree, mechanical rubber products has a corresponding effect on demand for carbon black. Tire production, in turn, is heavi...