According to the recent study the Carbon Black in Tire Market is projected to reach an estimated $20 billion by 2028 from $15 billion in 2022 at a CAGR of 5% from 2023 to 2028. Growth in this market is primarily driven by strong demand for tires from passenger cars and commercial vehicles.
Browse 107 figures/charts and 68 tables in this 205-page report to understand trends,
opportunities and forecast in carbon black in tire market by application
(passenger car tire, commercial vehicles tire, others), and end user industry
(OEM, replacement), and region (North America, Europe, Asia Pacific, and the
Rest of the World).
“Replacement market is expected to remain the largest segment
during the forecast period.”
Based on end user
industry, the carbon black in tire market is segmented into OEM, replacement.
Lucintel forecasts that the replacement market is expected to remain the
largest segment due to rising average vehicle life and continuous expansion of
automotive vehicle fleet is expected to spur growth for this segment over the
forecast period.
“Within the carbon black in tire market, the commercial vehicles
segment is expected to remain the largest application.”
Based on application the
commercial vehicles segment is expected to witness the highest growth over the
forecast period due to rapid development of the transportation infrastructure
in emerging nation and recovery in global economy.
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Carbon Black in Tire Market
“Asia pacific will dominate the carbon black in tire market in
near future.”
Asia Pacific will remain
the largest region by value and volume, and it is also expected to witness the
highest growth over the forecast period, propelled by higher vehicle production
and shift of tire production to low-cost countries, such as India and China.
Major players of carbon
black in tire market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Birla Carbon, Orion
Engineered Carbon, Cabot Corporation, Omsk Carbon Group, Philips Carbon Black,
China Synthetic Rubber Corporation, Tokai Carbon, Denka Company Limited,
Himadri Specialty Chemical, Imerys Graphite & Carbon, Continental Carbon
Company are among the major carbon black in tire providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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