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The North America carbon black market is estimated to project a CAGR of 2.71% during the forecasted period. The increasing demand for high-performance coatings, tire, rubber, etc. from several end-users is set to drive the market growth in the region.
The North American region, with regard to carbon black, is segregated into Canada and the United States. The region is undergoing advancements in terms of technology, which will aid in the growth of the carbon black market. The revival of the automotive sector is set to impact the growth of the market in the region. The region of Canada is predicted to showcase a stable growth with regard to the carbon black market, during the estimated period. The Canadian region boasts of a well-developed mixed economy. The manufacturing industries are witnessing growth at a steadfast rate. This is due to the favorable business policies, and a firm R&D infrastructure in the country. At the same time, the increasing production of tires is expected to aid market growth immensely. The construction industry in Canada is on the path of development, which will result in surging demands for paints and coatings and plastics. This will result in increased demand and growth of the carbon black market in Canada.
Tokai Carbon Corp Ltd., Himadri Chemicals Ltd., Mitsubishi Chemical Holdings Corporation, Cabot Corporation, Imerys SA, etc. are among the prominent companies in the market.
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