The Latin America carbon black market attained a production volume of almost 0.6 million metric tons in 2018. It is expected to grow further in the forecast period of 2019-2024 and will aid the growth of the global industry. The global market is projected to grow at a CAGR of 4.3% between 2019 and 2024.

Although the share of Latin America in the industry is comparatively smaller as compared to Asia Pacific, Europe, and North America, the industry is expected to grow at a steady pace in the coming years driven by the region’s recovering automobiles industry. The region also exports significant quantities of low-cost carbon black from China to meet the rising local demand. Brazil, especially, is a growing market for the substance due to its thriving automobiles industry. The expanding plastic and rubber industries in the industry is also propelling the market forward. Mexico is another significant market in the Latin American region.

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