ABU DHABI, UAE -
July 20, 2022 -
PRLog -- A large volume of carbon black is utilized in rubber applications. It provides reinforcement and improves resilience, tear-strength, conductivity, and other physical properties. Due to these factors, carbon black is a widely utilized and cost-effective rubber reinforcing agent in tire components, mechanical rubber goods, industrial rubber goods, membrane roofing, automotive rubber parts, and other rubber goods. Therefore, with increasing demand for such products, demand for carbon black eventually increases to support and suffice the requirement of the growing end-use industry. Further, carbon black is also used in protective coatings, plastics, and resistors for electronic circuits. However, the industry witnessed severe challenges in 2020 due to COVID-19, which resulted in the declining demand from the rubber manufacturing industry. For instance, in 2019, the global original equipment manufacture passenger car and light truck tire market stood at around 422 million units which fell to 351 million units in 2020. The most severe impact had witnessed in the South American region where demand dropped by 31% in 2020. This fall in tire sales reduced the demand for synthetic rubber, and so does the carbon black.
For more informative information, please visit us – https://univdatos.com/report/carbon-black-market/According to
UnivDatos Market Insights (UMI)' research report
"Global Carbon Black Market", the market is expected to showcase a growth of around 5% during the forecast period. The large base of the application area and growing end-use industries are some of the key attributable factors to the growth of the market.
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