India, Nov. 6 -- The global carbon black market is projected to grow from USD 27.88 billion in 2024 to USD 44.77 billion by 2034, expanding at a compound annual growth rate (CAGR) of 4.85 percent between 2025 and 2034, according to a new report by Towards Chemical and Materials, a research arm of Precedence Research.

The study estimates that the global market volume will rise from around 15.15 million tonnes in 2025 to 21.83 million tonnes by 2034, growing at a CAGR of 4.14 percent, driven primarily by increasing demand for tyres, automotive components and high-performance plastics.

Carbon black - a fine black powder made through the incomplete combustion of hydrocarbons - is a critical material used to reinforce rubber in tyre producti...