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The Asia Pacific carbon black market is expected to grow at CAGR of 6.0% in the forecast period of 2022 and 2027 to reach a value of USD 13.24 billion by 2027.
The Asia Pacific is the leading regional market for carbon black, accounting for nearly half of the total global production. China stands as one of the largest markets in the Asia-Pacific region and the leading manufacturer of the product. China and India together produce more than half of the carbon black globally. China is also the biggest consumer in the region, followed by India and Japan. The rapid growth of the tyre industry in the region is leading to the development of the Asia Pacific market. The global tyre market is dominated by the Asia Pacific region, with key players moving their manufacturing plants to East and South Asia. The rapidly growing automotive market in the region is also supporting the carbon black market growth. Ford Motor Company (NYSE: F), one of the major automotive companies, is expanding into the region, which, in turn, is helping the growth of carbon black industry.
With growing consciousness among the consumers and producers about environment pollution, many key players are trying to make their production process more sustainable. In 2020, Birla Carbon, one of the key players in the Asia Pacific carbon black market, released its seventh annual sustainability report titled “Evolving Sustainability, Together.” The report concentrates on sustainability operations used to manufacture products without causing much damage to the environment. Their purpose is to create products with minimum impact on the environment.
Market Breakup by Product, Grade, End-Use, and Regions:
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The major players included in the Asia Pacific black carbon market are Birla Carbon, Phillips Carbon Black Limited, Jiangxi Blackcat Carbon Black Inc., Tokai Carbon Co., Ltd., Longxing Chemical Industry Co., Ltd., Mitsubishi Chemical Holdings Corporation, Nippon Steel & Sumikin Chemical, OCI Company Ltd., Shandong Huadong Rubber Materials Co., Ltd, Others. This comprehensive report by EMR covers the market share, capacity, and latest developments like mergers, acquisitions, plant turnarounds and capacity expansions of these major players.
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