Carbon Black Market Is Likely To Up Demand At A USD 31.04 Billion By 2030
San Francisco, 23 Jan 2024: The Report Carbon Black Market Size, Share & Trends Analysis Report By Type, By Application (Tire, Non- Tire Rubber, Plastics, Inks & Coatings, Other), By Grade, By Region, And Segment Forecasts, 2024 - 2030 The global carbon black market size is expected to reach USD 31.04 billion by 2030, registering a CAGR of 4.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing tire production on accounted of growing transportation industry is driving the product demand. Carbon black is a highly regulated industry as the manufacturing process is considered harmful owing to the toxic emissions, which have adverse effects on the environment and health. In February 2003, it was added to the California Office of Environmental Health Hazard Assessment (OEHHA) list of substances known to the State that cause cancer. Major companies in the market are focusing on R&D activities to develop new manufacturing techniques to reduce