North America Carbon BlackCompanies (2024 - 2029)

North America Carbon Black Market Companies Summary

The North American carbon black market faced a significant setback due to the COVID-19 pandemic, which led to the closure of production facilities and supply chain disruptions in the tire and rubber industry. However, the market has been recovering well since restrictions were lifted, with a boost from the rise in automotive production. Despite challenges such as environmental concerns related to carbon black manufacturing, volatility in raw material prices, and the availability of silica substitutes, the market is being driven by factors such as the growing tire industry and increasing penetration of specialty carbon black. In the tire industry, carbon black plays a crucial role due to its effect on the mechanical and dynamic properties of tires. It is used in various formulations with different rubber types to customize the performance properties of tires. The United States, having one of the world's largest and most advanced tire markets, is expected to dominate the carbon black market and witness the highest growth rate during the forecast period. The tire industry in Mexico is also expected to receive a significant boost due to considerable investments from leading global tire manufacturers. With the increasing demand for lightweight and electronic vehicles, the demand for carbon black is expected to rise further.