Carbon black is one of the reinforces that frequently used in tire industry owing to its effect on mechanical and dynamic properties of tires. It provides flex strength in such products.- Owing to the COVID-19 outbreak, the production of synthetic rubber dropped by 7.3% in February 2020 from that of January 2020, where it had declined by 4.7% from that of December 2019. The global carbon black market size was estimated at USD 17.22 billion in 2018 and is projected to expand at a CAGR of 6.0% from 2019 to 2025. China’s tire production and sales volume recorded the continuous drops in the past 2-3 years, owing to the negative trends in local automotive industry. China is also the global largest exporter of carbon black. The global carbon black market was valued at $17.5 billion in 2018, and is projected to reach $23.0 billion by 2026, growing at a CAGR of 3.5% from 2019 to 2026. It is used in various formulations with different rubber types to customize the performance properties of tires.- Global tire production in 2019 is estimated to reach 255 million units, which is a 5% increase from 2018 (where it posted growth of 6% from 2017). Also, the plastics industry in China is the world’s largest, accounting for nearly 30% of the global production.- Such increasing demand from various end-user in the country is, in turn, boosting the demand for the market studied.- The COVID-19 has presented a problematic situation for carbon black in the country. This challenging scenario is expected to continue in the short-term future.China to Dominate the Market in Asia-Pacific Region- China contributes nearly 43 % of the global carbon black production, with a volume of almost 5.7 million tons. The global carbon black market is a consolidated market, where the top seven players contribute to about 53% of the market share. However, the condition is better now, which concreted the probability of market recovery over the forecast period.Competitive LandscapeThe global carbon black market is a consolidated market, where the top seven players contribute to about 53% of the market share. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________, https://www.reportlinker.com/p05778219/?utm_source=GNW, Karabakh rivals adjust to life along new borders, Iran accuses Israel of assassinating scientist and seeking 'chaos', US navy denies carrier group moved into Gulf after any 'threats', Review: Blue Aeris featuring Peter Reckell charm on 'Under The Mistletoe', Trump loses another election court challenge, OPEC and the pandemic has broken the U.S. shale market, JLJ Media to premiere new holiday audio drama 'Mistletoe Road', Canada's COVID-19 'Atlantic Bubble' is now on life-support, Iran assassination could undercut Biden's diplomatic options, Marc Anthony Samuel talks 'Enter Exit,' GH Fantasy virtual event. It is used in various formulations with different rubber types to customize the performance properties of tires. It is used in various formulations with different rubber types to customize the performance properties of tires.- Growth in the adoption of electric cars and self-driving cars is likely to act as an opportunity in the future.- Asia-Pacific dominated the market across the globe with the largest consumption from the countries such as China and India.Key Market TrendsIncreasing Application for Tires and Industrial Rubber Products- The tires and industrial rubber products application is the largest application segment of the carbon black market with more than 80% of the market share.- Carbon black is used in the tires of automotive vehicles. New York, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carbon Black Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05778219/?utm_source=GNW Declining automotive industry expected to hinder the growth of the market studied.- Tires and industrial rubber products application dominated the market and is expected to grow during the forecast period.

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