Market Size of Asia-Pacific Carbon Black Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 9.41 Million tons |
| Market Volume (2029) | 11.12 Million tons |
| CAGR (2024 - 2029) | 3.40 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Carbon Black Market Analysis
The Asia-Pacific Carbon Black Market size is estimated at 9.41 Million tons in 2024, and is expected to reach 11.12 Million tons by 2029, growing at a CAGR of 3.40% during the forecast period (2024-2029).
The market was negatively impacted due to COVID-19. Owing to the pandemic scenario, several countries in Asia-Pacific went into lockdown to curb the spread of the virus. The shutdown of numerous companies and factories disrupted worldwide supply networks and harmed production, delivery schedules, and product sales. Currently, the market recovered from the COVID-19 pandemic and is increasing significantly.
- Major factors driving the market studied are growing application in fiber and textile industries, increasing market penetration of specialty black, and surge in demand from the tire industry.
- Volatile raw material prices and the rising prominence of green tires are expected to hinder the studied market's growth.
- Growth in the adoption of electric and self-driving cars and the surge in demand for carbon black in printing applications will likely create opportunities for the market in the coming years.
