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.
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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 Strategic Insights
Strategic insights for the North America Carbon Black provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Klean Industries Inc
Delta Energy LLC
Imerys SA
Cabot Corp
Tokai Carbon Co Ltd
Orion Engineered Carbons SA
North America Carbon Black Regional Insights
The geographic scope of the North America Carbon Black refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
