Global Carbon Black Market to Accrue USD 22.66 Billion by 2032, Facilitated by Growing Demand from Automobile Sector, States Extrapolate

DUBAI, UAE, May 3, 2023 /PRNewswire/ -- As per the latest research report published by Extrapolate, the global Carbon Black Market size was valued at USD 15.05 billion in 2022 and is anticipated to grow to USD 22.66 billion by 2032. During 2023 and 2032, the market is expecting a CAGR of around 4.6% driven by the rising utility in a wide range of end-use industries, including the paint and coating, tire, and rubber industries.

According to data, Asia-Pacific presently produces around 59% of the carbon black produced globally for the tire industry, and by 2027, it is expected to grow to around 61%. Growing demand for high-performance tires is being driven by the developing global automobile sector, which is also boosting the growth of the carbon black market.

Read More: PRNewswireNews - Jornalwebdigital