According to the report, the global carbon black market attained a value of USD 16723.6 million in 2022. Aided by the growing demand for rubber products and the expanding automotive industry, the market is projected to further grow at a CAGR of 5.7% between 2023 and 2028 to reach a value of USD 23371.79 million by 2028.
Read MoreThe U.S. in North America is expected to witness significant growth in the demand for bio-based elastomers. This is due to the fact the country hosts a number of conventional elastomer manufacturers such as Avient Corporation, Huntsman International LLC, The Lubrizol Corporation, Trinseo, and Dow that are now engaged in the development of bio-based elastomers.
Read MoreKey manufacturers in the market offer a wide range of products to sustain the harsh competition in the market. Companies such as Sika AG, Wacker Wacker Chemie AG, The Dow Chemical Company, Guardian Glass, YKK Corportaion offer a wide range of silicon sealant and adhesive, glass, metal brackets and others.
Read MoreThe automotive silicone market is projected to reach USD 3.4 billion by 2028, at a CAGR of 7.3% from USD 2.4 billion in 2023. The growing automotive industry is a key catalyst for the expansion of the automotive silicone market according to ReportLinker. This demand surge is primarily propelled by factors like the growth of industries, increased investments in infrastructure projects, smart cities, and advancements in technology. Additionally, increasing global population, rising middle-class incomes, and changing consumer preferences for durable goods contribute to the growing demand for automotive silicone in automotive sector.
Read MoreThe European Tyre and Rubber Manufacturers’ Association (ETRMA) has reported Q2 2023 replacement tire figures , showing negative evolution in all segments, with demand stifled by global economic insecurity and rising costs, resulting from inflation.
Read MoreThe global industrial rubber market is estimated to be valued at US$ 36.3 billion in 2023 and is expected to grow at a CAGR of 5.5% during the forecast period of 2023-2033 according to Fact.MR.
Read MoreThe global low rolling resistance tire market share forecast with a CAGR of 11.3% across the forthcoming decade with value of 54 billion by the year 2033 according to Future Market Insights.
Read MoreIn the current year 2023, the net worth of the global EV tires market size is estimated to be around US$ 9.44 Billion. As per the market analysis report projections, EV tire sales are to grow at a CAGR of 26.6% during the next 10 years. This report also predicts that the total valuation of the market would be around US$ 100 billion by 2033 according to Future Market Insights.
Read MoreSales of the rubber testing equipment market have likely documented a Y-o-Y growth rate worth 4.6% in 2022 as compared to 2021. By 2022-end, the market was poised to reach US$ 13.7 Billion. As of 2021, rubber testing equipment demand was valued at US$ 13.1 Billion. From 2022-2032, a CAGR of 3.3% has been anticipated, with an expected closing value of US$ 19 Billion according to Future Market Insights.
Read MoreFuture Market Insights projects that the market for FKM elastomers will reach a value pool of US$ 1.6 billion. The market for FKM elastomers is anticipated to increase globally, reaching US$ 2.5 billion in 2033 at a CAGR of 4.6%.
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