The North America carbon black market is expected to grow from US$ 2,094.67 million in 2022 to US$ 2,761.87 million by 2028. It is estimated to grow at a CAGR of 4.7% from 2022 to 2028.
Growing Automotive Tire Sector is Driving North America Carbon Black Market
Carbon black plays a significant role in developing high-performance electrical and mechanical properties for tough elastic polymeric substances such as rubber. Thus, carbon black is widely used to manufacture reinforcing and pigment phases in automobile tires due to its ability to increase tire life by reducing thermal damage. Materials used in manufacturing car tires are considered as a major factor in the comfort and safety aspects of automotive design. Carbon black is an additive in the rubber used to manufacture tires that significantly improves tensile strength and abrasion resistance when compounded into the polymer matrix. With the rising number of automobiles across the world and continuous improvements in their performance, the demand for carbon black is increasing for rubber and automotive tire manufacturing. Increasing automobile production boosts the demand for tires, which ultimately propels the growth of the carbon black market.
North America Carbon Black Market Overview
The US, Canada, and Mexico are among the major economies in North America. Increasing automotive production in the region is a major factor affecting the growth of carbon black market. According to American Automotive Policy Council (AAPC), ~18 million units of motor vehicles were produced in 2021, which is the highest percentage of production in last 10 years. Carbon black is a rubber-reinforcing additive used in various rubber products. In the automotive industry, the rising tire production in the region is creating lucrative opportunities for the carbon black market, as the product is used to manufacture tires. In North America, there are more than 425 brands of tire with the US being the most attractive market in the region. Further, the number of tire manufacturers in the US is growing due to the increase in the entry of new players and a rise in requirement of tires from the automotive industry, which is fueling the carbon black market growth in North America.
North America Carbon Black Market Revenue and Forecast to 2028 (US$ Million)
North America Carbon Black Market Segmentation
The North America carbon black market is segmented into type, grade, application, and country.
Based on type, the North America carbon black market is sub segmented into acetylene black, channel black, furnace black, thermal black, and others. The furnace black segment held the largest market share in 2022.
Based on grade, the North America carbon black market is segmented into standard grade and specialty grade. The standard grade segment held the larger market share in 2022.
Based on application, the North America carbon black market is segmented into tire, non-tire rubber, plastics, inks & coatings, and others. The tire segment held the largest market share in 2022.
Based on country, the North America carbon black market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
Klean Industries Inc; Delta Energy LLC; Imerys SA; Cabot Corp; Tokai Carbon Co Ltd; and Orion Engineered Carbons SA are the leading companies operating in the North America carbon black market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,094.67 Million |
| Market Size by 2028 | US$ 2,761.87 Million |
| CAGR (2022 - 2028) | 4.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Carbon Black Market is valued at US$ 2,094.67 Million in 2022, it is projected to reach US$ 2,761.87 Million by 2028.
As per our report North America Carbon Black Market, the market size is valued at US$ 2,094.67 Million in 2022, projecting it to reach US$ 2,761.87 Million by 2028. This translates to a CAGR of approximately 4.7% during the forecast period.
The North America Carbon Black Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Carbon Black Market report:
The North America Carbon Black Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Carbon Black Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Carbon Black Market value chain can benefit from the information contained in a comprehensive market report.
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