Market Size of North America Carbon Black Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Carbon Black Market Analysis
The North American carbon black market is expected to reach over USD 2,950 million by the end of this year and is projected to register a CAGR of over 2.5% during the forecast period.
COVID-19 negatively impacted the North American carbon black market in 2020 due to the shutting down of production units and disruptions in the supply chain of the tire and rubber industry. However, the sector is recovering well since restrictions were lifted. The rise in automotive production from 2021 is expected to impact the studied market positively.
- Over the short term, the growing tire industry and increasing penetration of specialty carbon black are some factors driving the market demand in North America.
- Environmental concerns associated with the manufacturing of carbon black, volatility of raw material prices, and availability of silica substitutes may hinder the market's growth.
- The growing adoption of electric cars and increasing demand and usage in the paints and coating industry will likely create opportunities for the market in the coming years.
- The United States is expected to dominate the market and will also witness the highest CAGR during the forecast period.
