Carbon Black Market to Skyrocket by 2032

The global carbon black market is poised for a 50% growth, expected to reach USD 42 billion by 2032, according to the Asia-Pacific Carbon Black Confederation. This growth is driven mainly by the Asia-Pacific region, with India playing a key role in the tyre industry's expansion.

The global carbon black market is set to expand by 50% to reach USD 42 billion by 2032, as reported by the Asia-Pacific Carbon Black Confederation (APCBC) on Wednesday.

Currently valued at around USD 28 billion, the industry is expected to witness significant opportunities, particularly in the Asia-Pacific region, which remains a primary growth driver, according to Amit Choudhary, Chairman of the International Advisory Committee at APCBC.

Choudhary, also the Executive Director of Himadri Speciality Chemical, noted that the global tyre industry plans to invest USD 27.3 billion between 2023 and 2028, with India contributing USD 1 billion through new initiatives. He highlighted India's increased exports to the EU and North America to compensate for reduced Russian supplies.

(With inputs from agencies.)