According to the business intelligence report titled ‘Asia Pacific Carbon Black Market By Grade, By Process, By Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Asia Pacific carbon black market is estimated to grow substantially between 2021-2027.
 

Booming construction sector with rising demand for sustainable solutions, growing deployment rate in automotive vertical, and usage in producing environment friendly concrete are key factors spurring Asia Pacific carbon black industry growth. Moreover, increasing research & development activities to decrease carbon footprint will aid market proliferation in the upcoming years.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3855676/
 

The report cites that widespread adoption of carbon black in automotive sector for applications like hoses, gaskets, belts, sealing systems, anti-vibration parts, and in-tire components like treads and sidewalls will stimulate industry trends as well.
 

Based on process, Asia Pacific carbon black market sphere is divided into furnace black, acetylene black, thermal black, lamp black, and channel black. Speaking of grade, the industry is bifurcated into N-550, N-762, N-660, N-772, N-990, N-774, N-991, and others.
 

Among these grades, the N-550 carbon black segment held 36% industry share in the past year, owing surging demand from end use verticals because of its dimensional stability, green strength, and high structure grade with low surface area. Moreover, it is used in manufacturing seals, hoses, gaskets, bels, brake diaphragms, non-vibrating mountings, and extrudate profiles.
 

Moving on to application scope, the business space is fragmented into graphite manufacturing, coatings, tires & rubber goods, polymers, electronics, and printing. The report cites that tires & rubber goods sector held 74% of the industry share in the recent past and is anticipated to grow at 6.6% CAGR between 2021-2027. Growing demand for hybrid electric vehicles, luxury cars, and electric vehicles will aid this expansion.
 

Geographically speaking, China captured 33% of Asia Pacific carbon black market share in the past year due to rising investments in automotive sector. Surging demand for battery electric vehicles (BEV) is mainly responsible for this investment. As per the China Association of Automobile Manufacturers, approximately 1 million EV sales were recorded into 2020.
 

Key players influencing Asia Pacific carbon black industry trends are Syrah Resources Limited, Cabot Corporation, Showa Denko K.K., HEG Limited, BTR New Material Group Co. Ltd., Bridgestone Corporation, Birla Carbon, OCI Company Limited, Phillips Carbon Black Limited, Tokai Carbon Co. Ltd., Lianyungang Jinli Carbon Co. Ltd., and Orion Engineered Carbons GmbH.